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Legal Update

Interest in oral loan agreement could not be implied, England & Wales Court of Appeal finds

August 2018
Mayer Brown Legal Update
The Court of Appeal recently handed down its judgment in Sheikh Mohamed Bin Issa Al Jaber and MBI & Partners UK Limited v Sheikh Walid Ibrahim Al Ibrahim and Sheikh Majid Bin Ibrahim Al Ibrahim, finding that the submission that an oral loan agreement should have an implied term for interest because the lender expected “some benefit” from the loan, was unarguable and should be rejected.

Authors

  • Alistair Graham
    T +44 20 3130 3800
  • Daniel Cook
    Associate
    T +44 20 3130 3153
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