Justice John Gilmour

The Australian Securities and Investments Commission has narrowly lost its High Court appeal of a ruling that found the owner of a South Australian outback general store had not acted unconscionably by selling used cars through a “book-up” system.

The corporate watchdog has won special leave to appeal to the High Court a ruling that found a general store owner in outback South Australia who sold cars by “book up” had not acted unconscionably.