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Unconscionable conduct and the 'bookup' system of credit score. – jj

Unconscionable conduct and the 'bookup' system of credit score.

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.

This lecture is co-hosted by the Melbourne Law School’s Centre for Corporate Law and Obligations Group.



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