ASIC has won orders declaring that Gold Coast-based BHF Solutions and Cigno needed a credit licence to issue loans to hundreds of thousands of customers, after the High Court tossed a challenge by the payday lenders.
Texas oil giant Tri-Star has lost its bid for a referral in a dispute with natural gas exporter Australia Pacific LNG over several coal seam gas fields in Queensland and $7.6 billion in share acquisitions.
The High Court won’t hear an appeal by payday loan providers Cigna and BHF seeking to challenge a Full Court judgment that found they can’t dodge the obligations contained in the National Credit Code through their lending model.
Payday lenders BHF Solutions and Cigno are fighting ASIC’s bid for an injunction barring them from breaching consumer credit laws, with BHF claiming it should not be exposed to contempt.
The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.
Payday lenders Cigno and BHF have filed High Court challenges to a judgment which found they could not bypass lender obligations contained in the Credit Code, warning the judgment could subject buy now, pay later schemes to the Code.
Clive Palmer-owned Queensland Nickel Sales has lost its bid to bring a breach of trust lawsuit against the liquidators of Queensland Nickel to recoup $102 million transferred after the billionaire suffered a courtroom defeat last year.
The High Court has declined a special leave application by Clive Palmer-owned mining firms challenging a judgment which ordered the billionaire to repay a $102 million loan taken out from Queensland Nickel prior to its collapse in 2016.
An appeals court challenge by a group of small businesses seeking coverage under business interruption insurance policies for losses flowing from COVID-19 restrictions has largely failed.
In rejecting a bid by The Star Entertainment Group to recoup losses stemming from the COVID-19 pandemic, the Federal Court’s Chief Justice did “real and unexplained violence” to the construction of a business interruption policy the casino giant had taken out with Chubb, the Full Court has heard.