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United Kingdom fsma general prohibitionaccrual of cause of actionregulated credit

Bhattacharya v Oaksix Holdings Ltd

[2021] EWHC 1326 (Ch)
JurisdictionUnited Kingdom
CourtHigh Court (Chancery Division), Elizabeth Jones QC sitting as a Deputy Judge
Year2021
StatusPersuasive authority

Key Principle

Where a regulated mortgage / credit agreement is unenforceable for breach of the general prohibition under the Financial Services and Markets Act 2000, the limitation period for a borrower's claim to recover money paid under sections 26/28 FSMA runs (for the principal sum) from the date the principal is repaid, not from the dates of earlier payments of fees or interest.

Area of Law

General

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