- Front Page
- Biz Tools
The Franchise Owner's most trusted news source
Justice Buchannan in the Brisbane Federal Court of Australia has dismissed a claim by a former Bank of Queensland franchisee who alleged the bank misrepresented branch turnover. The bank suggested he was a poor performer.
Garry Allsopp said if you do $4 million per month which is achievable with the size of mortgages in New South Wales, you will cover your operational expenses and borrowings and give a good return on investment. Bank of Queensland franchisee loses case
Leicester Ramseyclaimed he had used the Bank’s misrepresentation as the basis for his business plan. While the judge found in favor of the franchisor;
He [Justice Buchanan] said BoQ almost had a ''split personality'' with some insiders wanting to help the branch while others were ''equally intent on imposing every conceivable form of legal obstacle to any possible disadvantage or future prejudice to the bank's position''. Liam Walsh
BoQ simply stated in an ASX media release that the franchisee’s claims had all been dismissed and the franchisor’s counter-claims had all been upheld. However, what was not mentioned was that there were a number of litigant franchisees waiting in line.