Lords to hear £1m loan case

A £1m loan battle is to go to the House of Lords. The Law Lords have given leave for an appeal in the case of Twinsectra Ltd v Yardley & ors in which Twinsectra won its claim to recover the loan and interest. Twinsectra lent the money but later sued for recovery in the High Court on the basis, among other things, of deceit. In the High Court in October 1997 it succeeded in its claim against the head of the companies concerned but its claim against the companies and a solicitor involved failed. But on appeal in April this year, the court held that the companies were also liable. It is those companies – Yardley Commercial Vehicles, Maltsworld, YC Sales and Maltsworld Properties – which have now been given leave to appeal.