Compensatory Interest

Compensatory Interest

Cs sought interest that is statutory the contractual price charged by D (29% every month); the Judge rejected Cs’ first rationale (that this is the price C had to spend to borrow cash) and stated this process should really be limited to commercial instances.

224: Cs’ second argument had been that Cs could have utilized the surplus funds to settle other HCST loans – there could be more merit compared to that argument, however it will be better explored in the facts of the specific situation.

Complete judgment text available right right here: Kerrigan v Elevate

Overview by Ruth Bala, counsel when it comes to creditor.

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“The frontrunner with its field,” Gough Square Chambers may be the definitive customer legislation set.

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