Compensatory Rate Of Interest

Compensatory Rate Of Interest

Cs sought statutory interest at the contractual price charged by D (29% each month); the Judge rejected Cs’ first rationale (that this is the price C had to spend to borrow funds) and stated this process must certanly be on a commercial instances.

224: Cs’ second argument had been that Cs could have utilized the extra funds to settle other HCST loans – there could be more merit to that particular argument, nonetheless it will be better explored from the facts of the case that is particular.

Comprehensive judgment text available right here: Kerrigan v Elevate

Overview by Ruth Bala, counsel for the creditor.

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