The article discusses the impact of the Moneylenders (Amendment) Rules 2015 and specifically whether there is a genuine triable issue that the refinancing loans contain excessive interests and the transactions are unconscionable or substantially unfair, such that the court can re-open the loan transactions under the Moneylenders Rules 2015.
Case summary by Tedric Chai Significance: Singapore High Court sets aside a trust on grounds of misrepresentation, mistake, undue influence and unconscionability, construes scope of living trust to include the plaintiff’s interest under a will. Facts On the evening of 26 March 2014 (which was 3 days after the funeral of his mother who was killed […]
By Ronald JJ Wong, Director Significance: Singapore High Court construes “good faith” in banking standard terms in the context of unauthorised fund transfers, finds that circumstances were not sufficient to put a reasonable banker on suspicion regarding unauthorised transfers, and finds on reasonableness of exclusion clauses under the unfair contract terms act. Summary: The plaintiff […]