The Law Reports (Appeal Cases)
[1992] 2 AC 85
[PRIVY COUNCIL]
IMPERIAL LIFE ASSURANCE COMPANY OF CANADA APPELLANT AND EFFICIENT DISTRIBUTORS LTD. RESPONDENT
[APPEAL FROM THE COURT OF APPEAL OF THE COMMONWEALTH OF THE BAHAMAS]
1992 Feb. 10;
March 9
March 9
Lord Keith of Kinkel, Lord Roskill, Lord Templeman, Lord Jauncey of Tullichettle and Lord Lowry
Bahamas, The
— Mortgage
— Statutory interest restriction
— Loan by lender to borrower at rate of interest within prescribed limit
— Mortgage entitling lender to capitalise arrears of interest
— Borrower in default in monthly instalments of combined principal and interest
— Whether rate of interest on original loan and accumulated arrears of interest exceeding statutory limit
— Validity of mortgage
—
Rate of Interest Act 1948 (No. 25 of 1948), ss. 3, 4