In duplum

In the 1998 Supreme Court of Appeal (SCA) matter of Standard Bank of South Africa Ltd v Oneanate investments (Pty) Ltd (in liquidation) 1998 (1) SA 811 the court held that the operation of the in duplum rule was suspended from the date of service of process commencing legal proceedings until judgment in the matter was deliveredThis meant that as soon as litigation proceedings were initiated, there was no limitation on the amount of interest a creditor could claim from a debtor until the date of judgment.

This has all changed in a ruling whereby the debtor is protected from an uncapped accumulation of interest by limiting the interest recoverable on an outstanding debt by a creditor.

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