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
- HCA4300/1983
Facility Letters construed as offering term loans subject to an express reservation allowing the lenders at their sole discretion to reduce or withdraw the facility at or after the review date, making loans callable; defendants did not establish triable issues from express or implied terms or election defence generally; triable issues do exist concerning loans made to acquire Paliburg shares and as to consideration for certain guarantees; where no triable issue exists plaintiffs entitled to summary judgment for principal sums claimed and default judgments are set aside only where appropriate.