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
- HCA4324/1983
The Facility Letters were properly construed as term loans subject to an express reservation allowing the lenders at their sole discretion to reduce or withdraw the facility and, after review dates, loans could be called in on demand; defendants failed to raise triable issues from express or implied terms except in relation to loans connected to Paliburg share acquisitions and questions of consideration for guarantees, and therefore summary judgment was appropriate in the specified actions while unconditional leave to defend was granted where triable issues exist.