Cathryn Barber

Members of Parliament (MPs) are reviewing a petition that seeks to limit loan interest so it never exceeds the original principal, citing the steady rise of unscrupulous lenders with unjustly high repayment charges. The petition, filed by senior lawyer Allen Waiaki Kishore, calls for amendments to the Consumer Protection Act to formally codify the in duplum rule, which already exists in Section 44A of the Banking Act but remains weakly enforced. The in duplum rule is a longstanding legal principle that states if unpaid interest equals the principal, no further interest may accrue until part of the principal is repaid. Historically applied to banks, recent court decisions in Kenya have extended the rule to all lenders, including microfinance institutions, SACCOs, digital lenders, and even private individuals. https://lnkd.in/dXnkZc4W

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At the Association of Independent Insolvency Practitioners (AIIP) Annual Conference, our Chief Executive Tim Beresford outlined AFSA’s vision for a fair, trusted, and high-performing personal insolvency system — and launched our 2025–26 Regulatory Action Statement. His message: to maintain trust in Australia’s $3.6 trillion credit system, we must act with integrity, stay relevant, and reflect the communities we serve. Our focus this year:  • Manipulating personal insolvency proposals and creditor meetings to protect wealth • Cracking down on mismanaged trust accounts  • Addressing harmful and inappropriate advice  • Improving compliance with PPSR discharge obligations We also reinforced the value of positive culture in professional practice — because trust is built not by words, but by actions. Explore the 2025–26 Regulatory Action Statement and learn more about how we’re targeting harm and strengthening confidence in the system: https://lnkd.in/gRQ3JfRt #AFSA #Regulation #Insolvency #Trust #Leadership #Stewardship #Bankruptcy #PPSR #Governance #FinancialServices

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Judgment Just In: May v Costaras [2025] NSWCA 178 The Court of Appeal has dismissed an appeal from the Equity Division. The Court held that the primary judge did not err in finding that the parties held their property on a joint endeavour constructive trust. In a separate concurrence, Bell CJ noted the use of Generative AI by the respondent and emphasised the need for judicial vigilance in the use of Generative AI, especially but not only by unrepresented litigants. Read the judgment here: https://lnkd.in/gjGfxxBC Summary: https://lnkd.in/g8UWdRdM

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𝗟𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 𝘂𝗽𝗱𝗮𝘁𝗲: the High Court of Australia has delivered an unanimous decision in Kain v R&B Investments axing common fund orders for solicitors but confirming the availability of common fund orders at settlement or judgment for litigation funders. Read Brad Woodhouse, Naomi Griffin, Emily Carr and Coby Howell’s full analysis here: https://okt.to/s0AQJt #classactions #litigationfunding #CFOs #Australia

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The New Zealand Law Society Te Kāhui Ture o Aotearoa has published a practice briefing which provides guidance for lawyers on the relevance of tikanga Māori in meeting competence and client service obligations. The practice briefing is intended to provide practical information to help lawyers engage with tikanga effectively, including how they may approach meeting professional obligations in circumstances where tikanga is relevant. Read the practice briefing here https://lnkd.in/gP_h9vKe

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In a landmark decision, the Federal Court has, amongst other things, clarified the lawful use of set-off clauses in employment contracts involving annualised salaries for award-covered employees.   Partners Persephone Stuckey-Clarke, Justin Claude Le Blond, Nicholas Linke, and Managing Associate Jennifer Moran explore the implications of this important decision and outline practical steps for businesses to stay compliant and avoid costly underpayment claims and eye-watering penalties.   Read here: https://lnkd.in/gtF7pZkK   #EmploymentLaw #FairWork #Compliance 

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