Read the full judgment text of HCA 011053/1999 on BabelCite. This High Court CFI judgment was delivered on 8 August 2006.
1. The plaintiff claims from the defendant payment to indemnify some letter of credit facilities allegedly provided by the plaintiff to the defendant for purchases of video cassette recorders (“VCRs”). The principal of the alleged indebtedness is US$790,000 and the accrued interest was, as at 31 December 1992, at $1,893,726.39, making a total of $2,683,726.36 as at that date. The plaintiff also claims interest on the sum of US$790,000 from 1 January 1993.