18 Jun 1998
LIGGARS LTD. v. DC FINANCE (HOLDINGS) LTD. and Another
- Citation
- LIGGARS LTD. v. DC FINANCE (HOLDINGS) LTD. and Another
- Court
- Court of First Instance
- Case number
- HCA11787/1997
The definition of 'money lender' in s2(1) of the Money Lenders Ordinance must be read in full; a person who makes a loan to a company secured by a registrable encumbrance falls within the Schedule 1 Part 2 exemption and is excluded from the definition 'as respects' that loan; therefore the provisions rendering agreements illegal and unenforceable (ss22, 23 and 27) do not apply to the Loan Agreement and the loan and mortgage are enforceable.
- Definition of 'money lender' under money lenders ordinance
- Exempted loans (schedule 1 part 2)
- Illegality and unenforceability of loan agreements
- Statutory construction
- Unconscionability
- Strike out (scandalous, frivolous and vexatious)