Compensatory Rate Of Interest

Compensatory Rate Of Interest

Cs sought statutory interest at the contractual price charged by D (29% per month); the Judge rejected Cs’ first rationale (that this is the price C needed to pay to borrow funds) and stated this method ought to be limited to commercial cases.

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 on the facts of the case that is particular.

Complete judgment text available right here: Kerrigan v Elevate

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

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“The frontrunner in its field,” Gough Square Chambers may be the consumer that is definitive set.

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