25 Jun 2009
THE DOCKS LIMITED V LIU HC AK CIV-2008-404-1435
- Citation
- openlaw-1f77f316_865f_42da_b516_87b97f6d063f.pdf
- Court
- High Court
The contractual interest provision was not a penalty: it was a bona fide pre-estimate of loss when judged against evidence of the plaintiff's actual high-cost financing (27.1%) and attendant financing costs; the underwrite fee was a genuine, proved loss paid to a third party and recoverable; accordingly judgment for the plaintiff in the sum claimed was entered.