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NIB BANK LIMITED versus THREE STAR HOSIERY MILLS (PVT.) LTD.


Section 3 (2) and 9 Cost of Debt Debt Receipt for Cost of Debt and Use of Disadvantages Defendant's application for leave filed by the defendant was dismissed and the Bank recovered the costs of the funds and the illegal damages Was also linked to the finance agreement, neither the payment schedule nor the contract had any mention of the dates of the installments to which it was due, and even the number of installments. Was not made, the bank was only entitled to claim the cost of the funds from the expiry date of the finance contract. In the absence of any positive evidence, the bank was not entitled to the damages, as the exact amount of damages could not be given until the required proof was proved, regardless of the effect of the actual loss. According to r. n

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