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Supreme Court Ruling on Compound Interest by Simushi Simushi is a document available to read on EtoBox.
What is Supreme Court Ruling on Compound Interest about?
This document summarizes a Supreme Court case regarding a dispute over interest charged on a defaulted loan. 1) The appellants defaulted on a loan from the respondent bank, secured by a mortgage. The bank charged commercial interest which was compounded. 2) The court ruled the bank could continue charging commercial compound interest indefinitely, even after receivership and liquidation. 3) On appeal, the Supreme Court reversed, finding commercial compound interest could not continue indefinitely afte
- Author
- Simushi Simushi
- Language
- EN