Cs sought statutory interest at the contractual price charged by D (29% each month); the Judge rejected CsвЂ™ first rationale (that it was the price C needed to spend to borrow cash) and said this method is limited to commercial situations.
224: CsвЂ™ second argument had been that Cs might have utilized the surplus funds to settle other HCST loans вЂ“ there could be more merit to this argument, however it will be better explored regarding the facts of a case that is particular.
Comprehensive judgment text available right here: Kerrigan v Elevate
Overview by Ruth Bala, counsel for the creditor.
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