This post is in reaction to the Wall Street Journal article 'Financing Programs Aim to Help Franchisees' regarding Franchisors providing 'Lease to Buy' programs and similar arrangements to potential Franchisees who are unable to secure traditional loans.
Justice Foster of Australia's Federal Court declared today that Allphones and its executives are to pay a total of A$3 million in damages for engaging in the following practices with current and past franchisees:
In December 09, the ACCC initiated proceedings against Master Franchisor Mailpost Australia Limited (MPA), CEO & Director Peter Kritas and Sydney Sub-Franchisor Mailpost Postie Network Sydney (MPNS), of whom Mr Kritas is Secretary.