Australian Securities and Investments Commission v Ferratum Australia Pty Limited (in liq)

The Australian Securities and Investments Commission brought an action against Ferratum Australia Pty Limited (in liquidation), alleging contraventions of the National Consumer Credit Protection Act 2009 and the National Credit Code. The case involved the respondent's operation of a business providing small amount credit contracts (SACCs) under an Australian Credit Licence. The primary issues for determination were whether the respondent had entered into SACCs that imposed impermissible fees and charges, and whether the respondent engaged in activities relating to SACCs efficiently, honestly, and fairly as required by section 47(1)(a) of the Act. The court found that the respondent had contravened the Act by imposing impermissible fees and charges and by failing to engage in activities efficiently, honestly, and fairly. This hearing was limited to determining liability, with further hearings to address appropriate final orders.

The court considered the appropriate duration for non-publication orders under section 37AF of the Federal Court of Australia Act 1976. The relevant statutory provision, section 37AJ, requires that suppression and non-publication orders operate for no longer than reasonably necessary and must specify a fixed or ascertainable period or a future event. The court examined conflicting authorities on whether orders expressed to operate "until further order" comply with these requirements. While the predecessor provisions did not mandate a specific period, the current statutory framework does. The court found that while an order may be vacated if no longer necessary, it must specify a period that is reasonably necessary. The court ultimately decided on a specified duration for the orders.

The court issued non-publication orders prohibiting the publication of personal information of consumers until their deaths. The orders specified the types of information to be protected, including residential addresses, email addresses, telephone numbers, dates of birth, and bank account details. The court ordered the applicant to file and serve short minutes of the final orders by a specified date, and scheduled a case management hearing to set a timetable for a hearing on the appropriate final orders. The court also corrected the name of the respondent to Ferratum Australia Pty Limited (in liquidation).