International Finance Corporation v Punj Lloyd Ltd and another company

Practice – Pre-trial or post-judgment relief. The Commercial Court granted summary judgment to the claimant company on its claim for principal sums due under two loan agreements and under a guarantee agreement. In relation to the principal claim under the loan agreements, the claimant had made good its entitlement to receive the full amount claimed, subject to an amount overcharged in default rate interest. Further, the claimant was entitled to payment from the first defendant guarantor under the terms of the guarantee. In those circumstances, there was no real prospect that the claimant's claims could be successfully defended.

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