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
- HCA6513/1983
Facility Letters were construed as term loans subject to an express contractual reservation allowing the lenders, after the review date, effectively to treat the facilities as repayable on demand; no term was to be implied preventing the bank from calling loans or requiring reasonable notice; the plaintiffs' earlier fraud action did not constitute an irrevocable election to repudiate the loans absent clear inconsistent conduct; triable issues existed in relation to loans for acquisition of Paliburg shares and as to consideration for guarantees, so summary judgment was refused on those issues…