Ann: Ceasing to be a substantial holder, page-15

This ca really is going to be a legal litmus test on many levels.

Basically, we just had a bank royal commission that came out recommending brokers should be paid for by the borrower to remove conflict of interest. This case relies on the fact that broker fees should be counted as part of the total interest calculation and limit of 48% (i.e meaning the lender is effectively paying for the broker again)

So a company that seperated the broker cost clearly and transparently, and indeed was a seperate company, is getting hauled over the coals for effectively doing so.  I almost feel a little sorry for finance companies trying to work through the current mine fields and make a profit. Its not like ccv has been making huge profits for a very long time.

Anyway a negative result will ripple through to a lot more ca action on a lot more finance lenders in this market. Having read the claims and responses, but NOT being a lawer, it feels like It will be a very anti business result if it goes against them.