Commission alleged that Avanti Finance was charging debtors an unreasonable estimate of creditor's loss upon full prepayment of their consumer credit contracts, and made misleading representations as to the characteristics of the formula used to calculate the estimate of loss. Avanti Finance found not guilty in District Court in 2009. Commission appealed to High Court on a case stated basis which was dismissed in 2009.
PartiesAvanti Finance Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act ss 51, 54
