IIG Capital llc v Van der Merwe: CA 22 May 2008

The directors and holders of the entire share capital of the company appealed against a summary judgement making them personally liable under guarantees given to support a debt factoring arrangement for the company.
Held: The appeal failed. The contract made them liable for the sums certified to be due on demand and as principal obligor. The arrangement was to be construed in the light of the fact that the directors between them held the entire capital.

Judges:

Lord Justice Waller, Lord Justice Lawrence Collins and Lord Justice Rimer

Citations:

Times 25-Jun-2008

Jurisdiction:

England and Wales

Citing:

Appeal fromVan Der Merwe and Another v IIG Capital Llc ChD 13-Nov-2007
The parties had entered into a debt factoring agreement, under which repayment was sought of some $30m, and the claimants were said to have guaranteed the loan by the factor to their company. The court was asked whether the guarantors had the same . .
Lists of cited by and citing cases may be incomplete.

Company, Contract

Updated: 07 May 2022; Ref: scu.278230