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Practice – Pre-trial or post-trial judgment relief. The Commercial Court granted the claimant lenders summary judgement on their claim against the defendants for sums outstanding under a syndicated loan facility agreement, along with interest. It ruled that the defendants' counterclaim for damages against the claimants could not provide them with an arguable defence to the claim because the 'no set-off' provisions of the facility agreement, under which the loan had been granted, were not subject to a test of reasonableness, under s 3 of the Unfair Contract Terms Act 1977, but applied with full contractual force.
Practice – Pre-trial or post-trial judgment relief. The Commercial Court granted the claimant lenders summary judgement on their claim against the defendants for sums outstanding under a syndicated loan facility agreement, along with interest. It ruled that the defendants' counterclaim for damages against the claimants could not provide them with an arguable defence to the claim because the 'no set-off' provisions of the facility agreement, under which the loan had been granted, were not subject to a test of reasonableness, under s 3 of the Unfair Contract Terms Act 1977, but applied with full contractual force.
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