Archive for the 'interest' Category

Aurubis Balgaria AD v Nachalnik na Mitnitsa Stolichna – WLR Daily

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Aurubis Balgaria AD v Nachalnik na Mitnitsa Stolichna (Case C-546/09); [2011] WLR (D) 123

“Interest on arrears in relation to customs duties still to be recovered could only be charged pursuant to article 232(1)(b) of Regulation 2913/92, as amended, in respect of the period falling after the deadline by which those duties were to be paid.”

WLR Daily, 31st March 2011

Source: www.iclr.co.uk

Please note that once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Ministers consider rates cap on legal loan sharking – The Guardian

“Ministers are to consider capping interest rates as a campaign launches demanding action to stamp out legal loan sharking.”

Full story

The Guardian, 2nd August 2010

Source: www.guardian.co.uk

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another – WLR Daily

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another [2010] UKSC 32; [2010] WLR (D) 175

“A credit broker administration fee and the interest payable on it were properly included in the charge for credit within the meaning of the Credit Consumer Act 1974 and the Consumer Credit (Total Charge for Credit) Regulations 1980, and accordingly, since those items did not form part of the amount of credit as set out in a loan agreement made between parties in 2005, that amount was correctly stated and the agreement was enforceable.”

WLR Daily, 8th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Contractual interest on damages does contribute to capped sum, rules High Court – OUT-LAW.com

“A contract’s liability cap applies to interest on payments that is part of that contractual agreement but does not apply to statutory interest applied by a court, the High Court has said.”

Full story

OUT-LAW.com, 4th March 2010

Source: www.out-law.com

Interest rate of 15% was not a punishment, rules Court of Appeal – OUT-LAW.com

“An interest rate of 15% agreed in a contract between two companies was not a penalty and was justified, the Court of Appeal has said. The interest, which had been ruled unlawful, can be charged, said the Court.”

Full story

OUT-Law.com, 30th July 2009

Source: www.out-law.com

Ruttle Plant Hire Ltd v Secretary of State for Environment Food and Rural Affairs (No 3) – Times Law Reports

Ruttle Plant Hire Ltd v Secretary of State for Environment Food and Rural Affairs (No 3)

Court of Appeal

“Mistakes in a supplier’s invoice did not enable the paying party to avoid late payment interest penalties.”

The Times, 4th March 2009

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 from the date of publication.

Ruttle Plant Hire Ltd v Secretary of State for Environment Food & Rural Affairs (No 3) – WLR Daily

Ruttle Plant Hire Ltd v Secretary of State for Environment Food & Rural Affairs (No 3) [2009] EWCA Civ 97; [2009] WLR (D) 75

A ‘notice of an amount of the debt’ within the meaning of s4(5) of the Late Payment of Commercial Debt (Interest) Act 1998 did not have to be correct before the court could award interest for late payment of an invoice.”

WLR Daily, 2nd March 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.


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