ANZ's Suncorp appeal will be the tribunal's most complex case yet
ANZ's appeal of the competition regulator's decision to block its $4.9 billion bid for Suncorp Bank will face an extended timeline due to its complexity.
In the first hearing of ANZ's appeal of the competition regulator's decision to block its Suncorp Bank bid on Tuesday, Federal Court of Australia Judge Michael O'Bryan confirmed what many expected: the review will run to an extended timeline.
The Australian Competition Tribunal has 90 days to review the matter from the day it was lodged last Friday.
That time frame can be extended 30 days or even 90 if it is considered "complex". Competition law experts said last week they weren't expecting a decision until February or March next year.
O'Bryan confirmed a decision wouldn't be made until Feb. 20, with hearing days expected to run Dec. 4-15.
