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
- HCA4318/1983
The Facility Letters, properly construed, reserved to the bank the right to reduce or withdraw facilities and to call loans (loans could be called in on demand after review dates); the bank's earlier tort pleadings did not amount to an irrevocable election to repudiate the loan contracts; triable issues exist in respect of loans made to purchase Paliburg shares and as to consideration for various guarantees; where no triable issue exists the court will grant summary judgment and will not grant leave to defend merely because of publicity or asserted harsh conduct.