Compensatory Rate Of Interest

Compensatory Rate Of Interest

Cs sought interest that is statutory the contractual price charged by D (29% each month); the Judge rejected Cs’ first rationale (that it was the price C needed to pay to borrow funds) and stated this method must be on a commercial situations.

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

Comprehensive judgment text available right right here: Kerrigan v Elevate

Overview by Ruth Bala, counsel for the creditor.

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