Aotea Finance Limited, Aotea Finance (Manukau) Limited, Aotea Finance (Panmure) Limited and Aotea Finance (West Auckland) Limited
The Aotea Finance group of companies has agreed to make payments totalling $2.8 million (less $107,000 already paid) to current and former affected borrowers in relation to 14,442 loan contracts, following a settlement with the Commission. Aotea Finance failed to disclose all key information required under the CCCFA.
Case Details
Parties
Aotea Finance Limited, Aotea Finance (Manukau) Limited, Aotea Finance (Panmure) Limited and Aotea Finance (West Auckland) Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 17
Industry
Financial and insurance services
Status
Closed
Outcome
Settlement
Case Number
Date opened
11 February 2016
Date closed
15 July 2019
Contact person