Gloriavale has taken a knock in its battle to maintain access to banking services
Gloriavale has taken a knock in its battle to maintain access to banking services
27 June 2024
The Court of Appeal has allowed BNZ to challenge an interim injunction which requires the bank to keep Gloriavale's accounts open.
Currently, a trial has to determine if BNZ can terminate its relationship.
BNZ will be able to close the accounts, if it wins the challenge.
The outcome of the case could set a legal precedent which clarifies if banks can choose who they do business with.
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