Cs sought interest that is statutory the contractual price charged by D (29% every month); the Judge rejected Cs’ first rationale (that it was the price C had to spend to borrow funds) and stated this process ought to be limited to commercial instances.

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

Comprehensive judgment text available here: Kerrigan v Elevate

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

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