Archive for the 'interest' Category

Aurubis Balgaria AD v Nachalnik na Mitnitsa Stolichna – WLR Daily

Please note that we have been experiencing some difficulties linking to WLR Daily case summaries. If you find that a link does not take you to the case you were expecting, you can also find it by using the ‘case search‘ function on the ICLR website.

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.

Companies must pay up undisputed amounts to avoid punitive interest, says Court of Appeal – OUT-LAW.com

“Companies that withhold all payment for goods or services in order to strengthen their hand in negotiations over disputed amounts will have to pay punitive interest on that money, the Court of Appeal has said.”

Full story

OUT-LAW.com, 2nd March 2009

Source: www.out-law.com

Credit card firms agree fairer terms – The Guardian

“Credit card companies will no longer be able to raise interest rates overnight, and will only be able to implement an increase twice a year, under a new government agreement.”

Full story

The Guardian, 12th December 2008

Source: www.guardian.co.uk

Pre-judgment interest on debts and damages – Ministry of Justice

“The government’s response to the Law Commission report on the amount of interest courts should award on debts and damages in court proceedings. ‘Pre-judgment interest’ refers to the interest awarded from the day when payment fell due until judgment is entered or payment made (whichever is earlier).”

Full story

Ministry of Justice, 16th September 2008

Source: www.justice.gov.uk

Sempra Metals Ltd. (formerly Metallgesellschaft Ltd.) v. Inland Revenue Commissioners and Another – The Times

Compound interest is payable in restitution

Sempra Metals Ltd (formerly Metallgesellschaft Ltd) v Inland Revenue Commissioners and Another

“The court had power to make an award of compound interest in a claim for restitution where such an award was necessary to achieve full justice for the claimant.”

The Times, 25th July 2007

Source: www.timesonline.co.uk

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

Analysis: Sempra has rewritten law on debt repayment – The Times

“The House of Lords’ ruling in the Sempra Metals case, while ostensibly about a complicated tax issue, could challenge the foundations of English law on the repayment of debt.”

Full story

The Times, 19th July 2007

Source: www.timesonline.co.uk

Lords defeat could cost Revenue ‘billions’ – The Times

“Revenue & Customs could be forced to repay “billions” of pounds in tax to UK businesses after suffering a devastating defeat in the House of Lords today.”

Full story

The Times, 18th July 2007

Source: www.timesonline.co.uk


July 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  

Categories