Unconscionable conduct and the 'bookup' system of credit 10.07.2019
'Unconscionable conduct and the 'bookup' system of credit' was co-hosted by Melbourne Law School and the Centre for Corporate Law and Obligations Group, 10 July 2019.
Event synopsis
On 12 June, the High Court of Australia handed down its decision in Australian Securities and Investments Commission against Kobelt.
In this decision, the majority of the High Court held that an informal, expensive and largely undocumented credit scheme known as 'bookup' provided by Mr Kobelt to the Indigenous residents of the remote APY Lands in South Australia was not unconscionable under the ASIC Act. This decision generated considerable interest, and discussions regarding the need for greater rules and regulations to protect customers against exploitation.
Presenters
- Nathan Boyle, Senior Analyst, ASIC Indigenous Outreach Program
- Gerard Brody, Chief Executive Officer, Consumer Action Law Centre
- Professor Jeannie Marie Paterson, Melbourne Law School
- Professor Ian Ramsay, Melbourne Law School (chair)
- Dr Michelle Sharpe, Barrister, Castan Chambers
This lecture is co-hosted by the Melbourne Law School's Centre for Corporate Law and Obligations Group.