Australian Competition and Consumer Commission v Australia and New Zealand Banking Group Limited [2013] FCA 1206

FEDERAL COURT OF AUSTRALIA

Australian Competition and Consumer Commission v Australia and New Zealand Banking Group Limited [2013] FCA 1206 Citation: Australian Competition and Consumer Commission v Australia and New Zealand Banking Group Limited [2013] FCA 1206

Parties: AUSTRALIAN COMPETITION AND CONSUMER COMMISSION v AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED ACN 005 357 522

File number: QUD 252 of 2007

Judge: DOWSETT J

Date of judgment: 18 November 2013

Corrigenda: 6 February 2014 21 November 2013

Catchwords: COMPETITION – whether respondent bank engaged in conduct that had purpose or effect, or was likely to have purpose or effect, of fixing a rebate – where mortgage broker, Mortgage Refunds Pty Ltd offered refunds to borrowers based on value of loan if successful in applying for loan – respondent bank wrote to finance aggregator to prevent Mortgage Refunds Pty Ltd to limit amount of refund offered on the bank's loans – whether conduct had effect of lessening competition between respondent bank and mortgage brokers – whether respondent bank's mortgage division was in competition with mortgage brokers – where market pleaded by ACCC was for the provision of "loan arrangement services" – whether mortgage brokers and respondent bank both provided loan arrangement services and thus competed in the same market – consideration of features of mortgage broking business model COMPETITION – indicia of competition between banks and mortgage brokers – consideration of hypothetical monopolist test (small but significant non-transitory increase in price, "SSNIP") – whether banks and mortgage brokers engaged in rivalrous behaviour – whether banks and mortgage brokers believed themselves to be in competition