Budget Loans Limited and Evolution Finance Limited
In May 2018, Finance companies Budget Loans Limited and Evolution Finance Limited were fined $720,000 in the Auckland District Court on 125 charges under the Fair Trading Act. They were also ordered to pay a total of $53,000 emotional harm reparations to nine victims, and approximately $41,000 in refunds and credits to borrowers. In February 2019, the High Court dismissed the companies’ appeal against sentence.
Case Details
Parties
Budget Loans Limited and Evolution Finance Limited
Category
Consumer
Sub-category
Act/Section
Fair Trading Act 13(e), 13(i)
Industry
Financial and insurance services
Status
Closed
Outcome
Judgment
Case Number
Date opened
11 April 2017
Date closed
18 February 2020
Contact person
This page was published 3 weeks ago