Second judgment in Motor Trade Finance fees case leaves open further work

Tue, 21 Oct 2014

By Paul McBeth Oct. 22 (BusinessDesk) - The second judgment in the antitrust regulator's case against auto-lender Motor Trade Finance over its loan contracts has been released, and leaves more work for the financier and Commerce Commission to calculate the quantum of fees deemed unreasonable in an earlier ruling. The Dunedin-based company said the High Court judgment, which followed an earlier ruling finding MTF charged unreasonable fees in breach of the Credit Contracts and Consumer Finance Act, sought to apply the 'close relevance test'...

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