Promissory estoppel successfully used as a ground to set aside statutory demands for payment of interest under a loan facility

Radford Goodman and Nick Payne of Mishcon de Reya summarise a recent decision which serves as a reminder to lenders that, even if a formal waiver has not been requested or granted, it might still be possible for a borrower to set aside a statutory demand on the basis of promissory estoppel.

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