Trading Place Limited

The Commission filed civil proceedings in the High Court against Trading Place Limited alleging breaches of the Credit Contracts and Consumer Finance Act for failing to assist borrowers to reach an informed decision as to whether or not to enter the loan and be reasonably aware of the full implications of doing so. In addition, we alleged that Trading Place Limited failed to keep adequate records of the inquiries it made to ensure its borrowers could make payments without suffering substantial hardship. We are seeking declarations and pecuniary penalties.