The Takeovers Panel has granted Humm Group (ASX:HUM) Founder Andrew Abercrombie a stay on orders to divest a multi-million-dollar stake in the non-bank lender.
The interim order halts the forced sale of approximately 15 million shares, valued at roughly $9.6 million, while a formal review of the initial proceedings is conducted.
The controversy stems from a December 2025 acquisition by Abercrombie's family office, The Abercrombie Group.
The panel originally ruled that the 3% interest was obtained under circumstances "contrary to an efficient, competitive and informed market".
Central to the dispute is a Humm Group market announcement on Dec. 17, 2025, which stated the board was "carefully evaluating" a takeover proposal from Credit Corp. (ASX:CCP).
However, the panel revealed that Credit Corp had actually been informed weeks earlier, on 28 November 2025, that its offer would not receive board recommendation—leading the regulator to label the disclosure misleading.
The initial penalty required the shares to be vested with the Commonwealth for ASIC to sell on the open market.
Under the new stay, this divestment is paused until a final determination is reached or two months have elapsed.
At the time of reporting, Humm Group’s share price was $0.65.