ACCC v ANZ Ltd

[2015] FCAFC 103 (31 July 2015) (Appeal)
[2013] FCA 1206 (18 November 2013) (Trial)

Snapshot

Federal Court of Australia

APPEAL

Year
2015
(appeal lodged 10 Dec 2013)
(decision 31 July 2015)

Citation
[2015] FCAFC 103

Judges
Chief Justice Allsop
Justice Davies
Justice Wigney

Issues
Price fixing

Hearing
14-15 August 2014

File number and registry
QUD818/2013

Legal rep for ANZ
Herbert Smith Freehills

Legal rep for ACCC
Australian Government Solicitor

TRIAL

Year
2013

Citation
[2013] FCA 1206

Judge
Justice Dowsett

Issues
Price fixing

Counsel for Applicant
Mr S Couper QC
Ms M Brennan

Solicitor for Applicant
Australian Government Solicitor

Counsel for Respondent
Mr A Archibald QC
Dr M Collins SC

Solicitor for Respondent
Herbert Smith Freehills

Copyright

 

Summary

The ACCC alleged that, in 2004, ANZ had required Mortgage Refunds Pty Ltd to agree to limit the amount of refund it could provide in respect of arranging ANZ home loans and that this, as a result, 'ANZ made and gave effect to an agreement where it would only allow Mortgage Refunds to continue to be accredited to offer ANZ mortgage products if it agreed to limit any refund it paid to its customers to $600, which would allow ANZ branches to match the deal if they chose to waive the ANZ loan establishment fee.' This, the ACCC alleged, constituted price fixing under s 45 (with aid of s 45A) of the then Trade Practices Act 1974 (now Competition and Consumer Act 2010), because 'ANZ and Mortgage Refunds were competitors in the market for the provision of loan arrangement services.' (see ACCC press release)

The Federal Court dismissed this claim, finding that ANZ and Mortgage Refunds were not competitors and, as a result, the conduct did not constitute price fixing.

Note: compare the decision in ACCC v Flight Centre.

Case links

Appeal

ACCC v Australia and New Zealand Banking Group Limited [2015] FCAFC 103 (31 July 2015) (Federal Court)

ACCC v Australia and New Zealand Banking Group Limited [2015] FCAFC 103 (31 July 2015) (AustLII)

ACCC v Australia and New Zealand Banking Group Limited [2015] FCAFC 103 (31 July 2015) (Jade)

Decision at first instance

ACCC v ANZ Ltd [2013] FCA 1206 (AustLII)

ACCC v ANZ Ltd [2013] FCA 1206 (Jade)

 

Judgment

 

Full Federal Court

Dismissed appeal

Federal Court

Dismissed cartel claim as a result of finding ANZ and Mortgage Refunds were not competitors.

Media and commentary

Text

 

Journal articles

ACCC media releases

Law firm commentary

On appeal decision

Gilbert + Tobin

Gilbert+Tobin, 'Federal Court green lights dual distribution models: wins for Flight Centre and ANZ against ACCC price fixing allegations' (31 July 2015)

On decision at first instance

Clayton Utz

Alexia Smyth-Kirk and Michael Corrigan, 'Court dismisses ACCC's price fixing case against ANZ' (Clayton Utz Insights, 5 December 2013)

Gilbert + Tobin

Luke Woodward, Elizabeth Avery, Simon Snow, Charles Coorey and Genevieve Rahman, 'Dual distribution models at a crossroad: where do the ANZ and Flight Centre cases leave us?' (Glibert + Tobin update, December 2013)

Other media

On appeal decision

Last updated: 8 August 2020