IMF Bentham Provides Update on ANZ Bank Fees Case

  • Dec 07, 2019 AEDT
  • Team Kalkine

IMF Bentham Limited (ASX: IMF) has reported that the Federal Court of Australia has gi#en the final judgement in the Bank Fees litigation case funded by IMF, for around 50k Australia And New Zealand Banking Group Limited (ASX: ANZ) customers.

  • IMF is liable to pay net ad#erse cost to ANZ amounting to $13 million.
  • IMF has $12 million in pro#ision for the case, and an impact of $1 million would be recognised in FY20.

 

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