In a presentation hosted by Level Twenty Seven Chambers the speakers address the issues in ASIC v Kobelt in the form of a court submission. They provided the context of the case and identified issues that are open to future litigation. Some topics addressed included:
- The High Court’s characterisation of the book-up credit system & the manner in which it was offered.
- Relevance of the Anangu customers’ perception of the credit system, reflecting aspects of Anangu culture not found in mainstream Australian society.
- Voluntariness in the context of the system of conduct in question, including the customers’ vulnerability and the cultural impacts.
- Relevance of “moral obloquy” in determining unconscionable conduct within the meaning of s 12CB ASIC Act.
- An examination of the majority and minority reasons and the application of Kobelt in recent cases.
- Hypothesising the potential reach of the High Court’s decision.
Who should watch?
Litigation teams with competition and consumer law practices, class actions lawyers, government lawyers, teams at regulatory bodies and in house counsel.