Published: September 12, 2019
Asic has appealed its loss in a responsible lending lawsuit brought against Westpac
Government MPs have launched an extraordinary attack on the corporate regulator Asic for deciding to appeal a responsible lending case it lost against Westpac which has become known as the “wagyu beef and shiraz” judgment.
During an at-times fiery parliamentary hearing on Friday morning, Victorian senator, James Paterson, New South Wales lower house member, Jason Falinski, and Queensland LNP MP, Bert Van Manen, repeatedly questioned Australian Securities and Investments Commission officers about why the regulator decided to appeal the judgment to the Full Court of the Federal Court.
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