The Supreme Court of Victoria has allowed the owners of a Bank of Queensland branch in Victoria to regain control of it after being kicked out by BOQ.
Mark Ellis and Heath Macfadyen, the owner-managers of the BOQ branch in Newtown, Geelong, had their "agency agreement" with the bank torn up and were escorted off the premises by security on Monday. The branch was taken over by BOQ and the locks were changed.
But the pair went to the Supreme Court of Victoria on Tuesday, where they won an injunction to be allowed to reclaim the branch.
The dispute comes ahead of BOQ's annual meeting in Brisbane on Wednesday.
BOQ confirmed it had terminated the branch's agency agreement but did not comment further. The injunction applies until December 5, with the parties due back in court next week.
"Given legal action, we are unable to provide further detail about why we've had no choice but to take steps to terminate the agency agreement with the owner-managers of the Pakington Street branch," BOQ said.
"We can say, however, that the issues are specific to this particular branch and its owners."