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Bank – Bank loan. The claimant bank issued the proceedings for repayment of a loan partner capital subscription loan made to the defendant, together with interest. The Commercial Court, in allowing the application, dismissed the defendant's defences that: (i) he had undertaken no obligation to repay the loan; (ii) the loan agreement was unenforceable as a sham; (iii) he had never received the loan proceeds; (iv) the bank had made a misrepresentation; and (v) the loan agreement had given rise to an unfair debtor-creditor relationship. It further rejected his counterclaim that the bank had been negligent and found that the firm had made no repayments on his behalf.
Bank – Bank loan. The claimant bank issued the proceedings for repayment of a loan partner capital subscription loan made to the defendant, together with interest. The Commercial Court, in allowing the application, dismissed the defendant's defences that: (i) he had undertaken no obligation to repay the loan; (ii) the loan agreement was unenforceable as a sham; (iii) he had never received the loan proceeds; (iv) the bank had made a misrepresentation; and (v) the loan agreement had given rise to an unfair debtor-creditor relationship. It further rejected his counterclaim that the bank had been negligent and found that the firm had made no repayments on his behalf.
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