15 Mar 1985
ALLIED CAPITAL RESOURCES LTD v. ROLLER INDUSTRAIES LTD AND OTHERS
- Citation
- ALLIED CAPITAL RESOURCES LTD v. ROLLER INDUSTRAIES LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA5907/1982
The court found on the balance of documentary and oral evidence that Exhibit P11 was a valid joint and several guarantee covering the facilities as increased from time to time; the defendants failed to prove that the guarantee had been returned, rendered ineffective, limited to a $3 million facility, or waived by plaintiff or its Manila parent; plaintiff proved entitlement to the principal sum and contractual interest up to 31 May 1983 and the court fixed interest thereafter at 16% per annum until payment; guarantors are liable for the debt and for recovery costs on a solicitor and own client…