KCC 39/2001

This case involved the correct amount of interest on a loan in a foreign currency.

Background

A bank filed a case against a defendant before the court. The bank requested the court to order the defendant to pay an amount of money and the interest. The bank said that the defendant borrowed this amount from the bank but he failed to pay it back according to the contract.

The court ruled that the defendant should pay the mentioned amount and the interest.

The defendant appealed the ruling before the court of appeal. The court upheld the appealed ruling.

The defendant appealed the ruling before the court of cassation. He said in his grounds of appeal that the appealed ruling had violated the law. He said that the court established its ruling on the grounds of the report of the expert which failed to determine the interest rates on the foreign currencies properly.

Decision