Campbelltown. BoQ wins in Federal Court

The Federal Court has dismissed the claim by Leicester and Kim Ramsey’s company Astram Financial Services, which held the franchise of the Bank of Queensland (BoQ) branch, at Campbelltown. The claim was the BoQ misrepresented the owner-manager into believing he could achieve a monthly turnover of $4 million within a year of opening the branch. Astram’s five-year contract with BoQ involved an upfront fee of $80,000 and a monthly licence of $1000 after the first year.