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
- HCA4332/1983
The Facility Letters, read commercially and contra proferentem, reserved the lenders a continuing right to reduce or withdraw facilities and made loans callable after the review dates; implied terms preventing recall without notice or tying repayment to project success were not implied; the prior tort pleading did not constitute an irrevocable election repudiating the loans; several guarantees raised triable issues as to consideration and causation, therefore summary judgment refused for those items; where no triable issue existed judgment for plaintiffs was granted for principal sums.