Where a local authority entered into a loan agreement outside its powers, the agreement was void ab initio, not merely voidable, and all moneys paid could be reclaimed.
Citations:
Gazette 18-Mar-1998, Gazette 01-Apr-1998, Times 02-Mar-1998, [1998] EWCA Civ 294, [1998] 2 All ER 272, [1999] QB 215
Links:
Jurisdiction:
England and Wales
Cited by:
Cited – Kommune and Another v DEPFA Acs Bank ComC 4-Sep-2009
Local authorities in Denmark sought to recover sums paid to the defendant banks for swap trading, saying that the payments had been outwith their powers. . .
Lists of cited by and citing cases may be incomplete.
Local Government, Financial Services
Updated: 14 November 2022; Ref: scu.81085
