BRIEF-Bentham IMF says judgment delivered in matter of Paciocco v ANZ Banking Group

Feb 5 (Reuters) - Bentham IMF Ltd IMF.AX :

* Imf Australia Ltd - bank fees update - anz judgment IMF.AX

* Says justice gordon has delivered judgment in the matter of Paciocco v ANZ banking group ltd in the Victorian registry of the Federal Court

* Key findings are that late payment fees constitute a penalty at law and equity

* Will seek to expedite recoveries in respect of late fees from ANZ and all the other banks

* Another finding is that other fees paid including honour fees and dishonour fees on bank accounts, and over limit fees on credit cards, were not penalties, nor did they breach other statutory provisions

* Says another finding is that certain inter account exception fees were charged in breach of contract

* Says IMF believes that late payment fees represent approximately 25% in value of all claims brought by class action members of ANZ

* Source text for Eikon News Search ID:nASX1gh3qd

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