The court was asked whether an agreement by the defendant solicitors under a personal injury litigation funding scheme, to discharge a client’s ‘remaining liability’ under a loan agreement applies on its true construction where the loan agreement is unenforceable by virtue of the Consumer Credit Act 1974.
Held: In the context of the panel solicitor’s agreement in question, ‘remaining liability’ imported something which was enforceable. The creditor had no right of recovery against the solicitors.
Judges:
Lawrence Collins LJ
Citations:
[2008] EWCA Civ 841, [2009] CCLR 4
Links:
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – McGuffick v The Royal Bank of Scotland Plc ComC 6-Oct-2009
Requirements for Enforcing Consumer Loan Agreement
The claimant challenged the validity of a loan agreement with his bank as a regulated consumer credit agreement. After default, the lender failed to satisfy a request for a copy of the agreement under section 77. The bank said that though it could . .
Lists of cited by and citing cases may be incomplete.
Legal Professions, Costs, Consumer
Updated: 17 July 2022; Ref: scu.270892