Cs sought interest that is statutory the contractual price charged by D (29% each month); the Judge rejected CsвЂ™ first rationale (that it was the price C needed to spend to borrow cash) and said this process must certanly be limited to commercial situations.
224: CsвЂ™ second argument had been that Cs might have utilized the extra funds to repay other HCST loans вЂ“ there could be more merit to that particular argument, however it could be better explored regarding the facts of the specific situation.
Comprehensive judgment text available right right right here: Kerrigan v Elevate
Overview by Ruth Bala, counsel when it comes to creditor.
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