Interest rate of 15% was not a punishment, rules Court of Appeal –

Posted July 31st, 2009 in company law, contracts, interest, news, penalties by sally

“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, 30th July 2009