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
- HCA4316/1983
The Facility Letters, construed commercially and contra proferentem, reserved to the lenders the right to reduce or withdraw facilities and to call loans (they became callable/overdrafts after review dates); the implied terms contended by defendants were inconsistent with the express terms and not necessary for business efficacy; the earlier fraud action did not constitute an election to repudiate the loan contracts; triable issues exist concerning loans made for Paliburg share purchases and consideration for guarantees, therefore summary judgment was refused in those matters; where no triabl…