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ANZ Bank New Zealand Files Appeal Against New Zealand High Court Class Action Lawsuit Judgement

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ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said ANZ Bank New Zealand filed an appeal in the Court of Appeal on Friday against the High Court of New Zealand's judgment against the bank in class action proceedings, according to same-day filings with the Australian and New Zealand bourses.

The High Court ruled that ANZ Bank New Zealand breached the Credit Contracts and Consumer Finance Act 2003 in class action proceedings served in September 2021. The court held that the representative plaintiffs are entitled to payment of the costs of borrowing for the period of breach, or NZ$32,728.42.

The bank's shares rose over 1% in recent trading on the Australian bourse on Friday, and nearly 1% on the New Zealand bourse.

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