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AAP

National

Rex Martinich

High Court rebuffs high-fee lenders

ASIC Federal Court Gold Gold Coast

Two Gold Coast lenders have lost a High Court bid to appeal a finding against them. (Dean Lewins/AAP PHOTOS) (AAP)

Two Queensland companies have failed to overturn the financial regulator's injunction for illegally offering expensive short-term loans to thousands of people a week.

In September 2020, the Australian Securities and Investments Commission sought injunctions against Cigno Pty Ltd and BHF Solutions Pty Ltd for using a business model that claimed to employ a legal exemption to lend money without an Australian credit licence.

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