Humm Group Limited (ASX: HUM), a diversified financial services company that provides instalment plans enabling businesses and consumers to make large purchases, operating in Australia, New Zealand, Ireland, Canada, and the United Kingdom, has announced it has been named as the Third Defendant in proceedings filed in the High Court of Australia. The proceedings, lodged on 6 May 2026, by Mr Andrew James Abercrombie, a director of hummgroup, and The Abercrombie Group Pty Ltd, challenge a recent decision by the Takeovers Panel.
The plaintiffs are seeking constitutional writs, including certiorari, to quash the Takeovers Panel’s declaration of unacceptable circumstances made on 17 April 2026 and its subsequent orders dated 24 April 2026, which notably include a Voting Restriction Order. They also seek a writ of mandamus compelling the Panel to provide written reasons for its orders and declarations that these decisions are invalid. The grounds of challenge include allegations that the Panel’s declaration was irrational, beyond its power under the Corporations Act, and that the Voting Restriction Order constitutes an acquisition of property without just terms under the Constitution.
Additionally, an interlocutory application requests that Humm’s Extraordinary General Meeting (EGM), currently scheduled to resume on 13 May 2026, be further adjourned until 14 days after the final determination of the proceedings. The proceedings also seek a stay of the Takeovers Panel’s orders. The background to these proceedings involves The Abercrombie Group Pty Ltd’s acquisition of 15 million Humm shares, leading to the Takeovers Panel imposing a voting restriction on these shares for six months. Humm Group notes it is currently considering its position and will not comment on the merits of the proceedings at this time, confirming the EGM remains on schedule unless otherwise ordered by the Court.
