Mahtani & Anor v Billington [2003] EWHC 3127 (QB) (18 December 2003)

Mahtani & Anor v Billington [2003] EWHC 3127 (QB) (18 December 2003)

The loans were made personally by the first Claimant to the Defendant; compound interest was payable; limitation does not bar the claim due to part payments; the Defendant's arguments regarding illegality and limitation fail.

Citation
[2003] EWHC 3127 (QB)
Parties
Claimant: Parshotam Mahtani; Claimant: Sterling Bureau de Change Ltd; Defendant: Keith Billington
Jurisdiction
England and Wales
Judgment Date
18 December 2003
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for the first Claimant
Legal Topics
Loan Agreements, Compound Interest, Limitation Period, Illegality Under Foreign Law
Contract Law Foreign Law Limitation Loan Agreements Compound Interest Limitation Period Illegality Under Foreign Law

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Parties

Parshotam Mahtani

Claimant

Sterling Bureau de Change Ltd

Claimant

Keith Billington

Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Was the agreement of 16 January 1995 made with the first or the second Claimant?
  2. 2 If with the second Claimant, was it unenforceable by reason of Zambian law?
  3. 3 Did the agreement give rise to simple or compound interest?

Ratio Decidendi

The loans were made personally by the first Claimant to the Defendant; compound interest was payable; limitation does not bar the claim due to part payments; the Defendant's arguments regarding illegality and limitation fail.

Court Disposition

Judgment for the first Claimant

Orders

  • Principal sums and compound interest payable to the first Claimant
  • Total sum to be agreed or liberty to apply