Release of Draft Updated Credit Fees Guidelines

As a result of the Supreme Court’s decision in Sportzone Motorcycles Limited (in liquidation) and Motor Trade Finances Ltd v Commerce Commission [2016] NZSC 53, the Commerce Commission has released an updated version of its draft guidelines for credit fees under the Credit Contracts and Consumer Finance Act 2003 (CCCFA). The updated guidelines are designed to [...]

October 13th, 2016|Categories: Legal Developments|Tags: , , |

A Warning for Directors to Exercise Caution

Ravensdown Fertiliser Co-Operative v Eveleigh (HC, 4/4/2012) issues a warning for company directors to be cautious when required to sign an application to extend a credit facility. R claimed it had a personal guarantee from both M and D Eveleigh for outstanding debts owed by them to R. M and D signed the extended credit [...]

August 1st, 2012|Categories: Legal Developments|Tags: , |