BNZ wants to terminate its 40-year banking relationship with the reclusive Christian sect on the West Coast, arguing the community breached the bank's human rights policy after an Employment Court ruling in 2022 that the sect used child labour.
The High Court granted Gloriavale an interim injunction preventing BNZ from shutting the accounts, which was appealed.
In February last year, the Employment Court heard evidence about working conditions at Gloriavale, in a case brought by Daniel Pilgrim, Hosea Courage and Levi Courage, who sought a declaration they were employees, not volunteers.
In an Employment Court decision, Chief Judge Christina Inglis found all three men were employees from the age of six until they left Gloriavale.
They worked regularly and for long hours, under strict control, primarily for the benefit of Gloriavale's commercial businesses.
Judge Inglis found the work they did between the ages of six and 14 could not be described as "chores" because of the commercial nature of the tasks, they were done over an extended period of time and they were "strenuous, difficult and sometimes dangerous".
At a High Court hearing in May last year, BNZ lawyer Will Irving said that Employment Court case warranted cutting ties with Gloriavale.
The Court of Appeal has ruled in BNZ's favour and set aside the injunction.
It says BNZ has agreed to continue providing banking services for three months.
