12 Feb 1999
Universe Link Industries Ltd. and Another v. Liggars Ltd.
- Citation
- Universe Link Industries Ltd. and Another v. Liggars Ltd.
- Court
- Court of Appeal
- Case number
- CACV182/1998
The loan was an exempted loan under Schedule 1 Part 2 (a loan to a company secured by a mortgage), therefore the lender was not a 'money lender' in respect of that loan; section 23 therefore did not bar recovery and the lender was entitled to recover principal and interest under its security. The alternative construction separating interest from principal was rejected as inconsistent with the statutory scheme.