15 Sept 1983
LLOYDS BANK INTERNATONAL LTD AND ANOTHER v. DERICOURT INVESTMENTS LTD AND OTHERS
- Citation
- LLOYDS BANK INTERNATONAL LTD AND ANOTHER v. DERICOURT INVESTMENTS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA4313/1983
Facility Letters were to be construed as granting term loans subject to a reserved right to reduce or withdraw at lender's discretion such that loans could be called in on demand after review dates; no implication of terms preventing calls or giving borrowers a right to repayment only upon project success; earlier fraud proceedings did not constitute an irrevocable election to repudiate; triable issues existed concerning the Paliburg share transactions and consideration for certain guarantees; summary judgment awarded where no triable issue and leave to defend granted where genuine issues rai…