26 Apr 2022
Real Finance admitted it charged establishment, administration and default fees that did not meet the transaction-specific cost requirement of s 41 CCCFA as articulated in Sportzone; because the admissions and settlement made declaratory relief useful for public guidance and deterrence, the Court granted declarations that the fees were unreasonable for the stated period.
14 Sept 2021
Given Harmoney's admissions and the public interest in a court declaration to deter similar conduct and provide public clarity, the Court granted a declaratory order that Harmoney Ltd and Harmoney Investor Trustee Ltd breached s 41 CCCFA by charging unreasonable establishment fees on consumer credit contracts between 26 August 2014 and 12 February 2020.
31 May 2017
The Court held that the Commission is entitled to use the case stated procedure under s100A as imported by s113(g) CCCFA to obtain determinations on questions of law arising in its matters; questions 1 (which documents comprise the credit contract), 3 (which entity is creditor) and 4 (whether the platform fee is a credit fee) are legally identifiable questions appropriate for a case stated (questions 3 and 4 to be prefaced 'on the basis of the documents and the factual summary'); questions 2 (whether the transaction is in substance a credit contract under s7(2)) and 5 (whether the platform fe…
8 Feb 2010
Court held consideration was sufficient because Dorchester's advance to TWVHL conferred a real benefit in the commercial context; trustees identified as borrowers bound the trust where a majority of trustees validly authorised the contract under s227 so those trustees were personally liable; two Opepe trustees (Biel and Rameka) had arguable s227(6) written dissent defences so summary judgment against them was declined; other trusts where majority did not sign could not be bound and summary judgment was dismissed as to those trustees; unconscionability, non est factum and Fair Trading Act defe…