18 May 2018
COMMERCE COMMISSION v HARMONEY LTD [2018] NZHC 1107
- Citation
- [2018] NZHC 1107
- Court
- High Court
The Loan Contract together with the Loan Disclosure constitute the credit contract; investors, Harmoney and HITL are creditors because Harmoney is the undisclosed principal/controlling party exercising effective control and terminating power over HITL while HITL performs trustee functions via Harmoney; accordingly the Platform Fee, being payable from loan proceeds and for the benefit of the creditor(s) in connection with the credit contract, is a credit fee under the CCCFA.