2 Oct 1986
NEW JAPAN SECURITIES INTERNATIONAL (H.K.) LTD. v. LIM YIONG LIN
- Citation
- NEW JAPAN SECURITIES INTERNATIONAL (H.K.) LTD. v. LIM YIONG LIN
- Court
- Court of First Instance
- Case number
- HCA1466/1983
First five rolled-over loans, though treated as fresh advances, incorporated accrued unpaid interest added to principal and thus operated as compound interest contrary to s22(a) and were illegal and unenforceable; the sixth loan was not rolled over and, despite plaintiff's failure to comply with s18 formalities, the court exercised its discretion under s18(3) in favour of the plaintiff and granted judgment for that loan; margin account advances were made in the ordinary course of the plaintiff's stockbroking business and were exempt under First Schedule Part II para 5, so judgment was entered…