Aotea Finance (Takanini) Limited; Aotea Finance Limited; Aotea Finance (Panmure) Limited

Three Aotea Finance entities have been warned by the Commission for likely responsible lending breaches under section 9C of the Credit Contracts and Consumer Finance Act 2003. The Commission was of the view that the Aotea Finance entities did not, at all times, exercise the care, diligence and skill of a responsible lender before entering into an agreement to provide credit, and did not make sufficient inquiries so as to be satisfied that borrowers would make the payments under the loan agreements without suffering substantial hardship.