Humm Group Limited (ASX: HGM) today announced a significant development in ongoing proceedings before the Takeovers Panel, revealing that an application for review of the Panel’s previous orders has been lodged. The company, an Australian financial services provider known for its buy now, pay later solutions and various credit card products, is at the centre of a review initiated by Mr Andrew Abercrombie. This application directly challenges the initial Panel’s decision to issue orders, as detailed in a prior announcement referenced as TP26/017.
Mr Abercrombie’s application seeks a review of the Takeovers Panel’s earlier decision to make orders concerning Humm Group. This latest development follows a previous application by Mr Abercrombie for a review of the initial Panel’s declaration of unacceptable circumstances relating to the company (TP26/012). Both review applications are slated to be heard by the same review Panel, indicating a consolidated approach to the matters at hand. The review Panel has stated it makes no comment on the merits of this new application at this stage.
To maintain the current status quo while the review application is considered, the review Panel has issued interim orders. These orders effectively stay the orders made by the initial Panel, meaning they will not come into effect for the time being. The interim orders specify that the initial Panel’s orders will remain stayed until the earliest of a further order by the review Panel, the determination of the proceedings, or two months from the date the interim orders were issued, which was 14 April 2026. This action ensures that the previous orders are paused pending the outcome of the review process.
