Regulator smacks company on special deal
Australia’s competition regulator, the Australian Competition and Consumer Commission (ACCC), has moved against a mortgage franchiser who claimed he had a special relationship with the regulator.
The ACCC said that it had commenced proceedings against Refund Home Loans Pty Ltd and its managing director and founder, Wayne Rodney Ormond, alleging they made false and misleading representations in breach of the Trade Practices Act about having a special relationship with the ACCC.
The regulator said it was being alleged that Ormond made statements over a number of years to current and former franchisees to the effect that the ACCC advised Refund Home Loans and Mr Ormond about their conduct towards franchisees and approved action taken by Refund Home Loans, in respect of franchisees and former franchisees with whom it was in dispute.
The ACCC said that it was seeking declarations in the Federal Court that the alleged statements breached the Act, injunctive relief, publications orders, the institution of a compliance program by Refund Home Loans, personal training in the Trade Practices Act for Ormond, and costs.
AUTHOR
Mike Taylor
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