Derek Wong of Alinea Chambers appeared in a landmark case on responsible lending. The proceedings focused on the way Westpac conducted its serviceability assessments for certain home loans entered into between December 2011 and March 2015. In a decision delivered on 13 August 2019, Justice Perram found in favour of Westpac and dismissed ASIC’s proceedings with costs. Derek appeared for Westpac, and was led by Jeremy Kirk SC and Justin Williams, and briefed by Moira Saville of King & Wood Mallesons.
The decision is ASIC v Westpac Banking Corporation (Liability Trial) [2019] FCA 1244, and can be found here [https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2019/2019fca1244
