Julian Gun Cuninghame is public access counsel for the appellant in Gayle v Kinsat Enterprises Ltd.
Joanna Smith J has granted permission to appeal against an order of HHJ Gerald in the County Court at Central London, in which he found that a 5% per month compounded default rate of interest in a bridging loan was not an unlawful penalty and did not give rise to an unfair relationship under s 140A of the Consumer Credit Act 1974. HHJ Gerald found that a 5% exit fee on the balance outstanding at the end of the loan was an unlawful penalty.
