PROMONTORIA (HENRICO) LIMITED AGAINST THE FIRM OF PORTICO HOLDINGS (SCOTLAND) AND LINDA ARTHUR [2018] ScotSC 5 (24 August 2017)

The court found that the pursuer had established the defenders' liability under the guarantee and loan agreement, and that the assignation of rights to the pursuer was valid and enforceable.

Citation: [2018] ScotSC 5
Parties: Pursuer: Promontoria (Henrico) Limited; Defender: The Firm of Portico Holdings (Scotland); Defender: Linda Arthur
Jurisdiction: Scotland
Judgment Date: 24 August 2017
Procedural Posture: Civil / Judgment
Outcome: decree granted for the pursuer
Legal Topics: Loan Enforcement, Guarantee Liability

Commercial Law Debt Recovery Loan Enforcement Guarantee Liability

Case Brief

Summary, issues, holding and outcome

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Parties

Promontoria (Henrico) Limited

Pursuer

The Firm of Portico Holdings (Scotland)

Defender

Linda Arthur

Defender

Procedural Posture

Civil / Judgment

Legal Issues

1 Whether the defenders are liable to the pursuer for the outstanding loan amount under the terms of the guarantee and loan agreement

Ratio Decidendi

The court found that the pursuer had established the defenders' liability under the guarantee and loan agreement, and that the assignation of rights to the pursuer was valid and enforceable.

Court Disposition

decree granted for the pursuer

Orders

Defenders to pay the sum due under the loan agreement to the pursuer
Interest awarded as per the contractual rate