Appeal Court Judgment: Consolidated Finance v Collins

Financing and refinancing in s11 of the Consumer Credit Act 1974: Consolidated Finance Ltd v Collins [2013] EWCA Civ 475

In a judgment handed down on 8th May 2013, the Court of Appeal has adopted a broad interpretation of the meaning of “refinance” in s11 of the Consumer Credit Act 1974 (“the Act”).  In the present four appeals, the interpretation of section 11 was critical to the issue of whether numerous standard form credit agreements were exempt and enforceable or regulated and unenforceable.

Julia Smith of Henderson Chambers represented the Office of Fair Trading, which intervened.

Read the Alerter by Thomas Evans here.