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Cs sought interest that is statutory the contractual price charged by D (29% every month); the Judge rejected CsвЂ™ first rationale (that it was the price C had to spend to borrow funds) and stated this process must be limited to commercial situations.
224: CsвЂ™ second argument had been that Cs could have utilized the surplus funds to settle other HCST loans вЂ“ there could be more merit to that particular argument, nonetheless it could be better explored in the facts of the specific instance.
Full judgment text available right right right here: Kerrigan v Elevate
Overview by Ruth Bala, counsel when it comes to creditor.
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