Motor Trade Finance plans to appeal High Court ruling that loan contracts were unreasonable

Tue, 08 Oct 2013

By Tina Morrison Oct. 8 (BusinessDesk) – Motor Trade Finance, which has a lending book of about $460 million, said it intends to appeal a High Court judgement that some fees in its loan contracts were unreasonable. “Motor Trade Finance is disappointed with the decision that some fees were considered unreasonable and considers that the court’s narrow basis for that finding does not recognise normal commercial practice,” the Dunedin-based company said in a statement. “The court’s finding did not acknowledge that borrowers would have paid highe...

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