Lordsvale Finance PLC v Bank of Zambia - QBD (Com Ct)(Colman J) - 20 March 1996

Loan facility granted by international banking syndicate - Enhanced rate of interest payable on default - Whether element of enhancement to be struck down as a penalty

Because one of the issues in this application by the plaintiffs for summary judgment was of far-reaching importance in the English law of banking, judgment was given in open court.