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Court orders couple to repay loan with interest [1]

Nuku'alofa, Tonga

Tuesday, February 21, 2017 - 19:39

Lord Chief Justice O. G. Paulsen on 14 February at the Supreme Court, Nuku’alofa, ordered Siosaia H. Fonua and Mary Prem Fonua to pay $371,639.21 to the Bank of South Pacific Tonga Ltd. (formerly Westpac Bank of Tonga).

Lord Chief Justice Paulsen’s summary judgment on 14 February concluded a case regarding a loan going back to 19 August 2005, when the Bank lent $260,650 to Siosaia Fonua and his wife Mary Prem Fonua.

By July 2006 the couple had accumulated loans from the bank amounting to $326,234, and they ceased to make any loan repayments.

On 16 November 2016 the Bank applied to the court for a Summary Judgment on the loan.

The case was heard at the Nuku’alofa Supreme Court on 27 January this year.

Lord Chief Justice Paulsen on 14 February ordered the defendants to pay the plaintiff $371,639.21 from the date of judgment until full payment, with interest at the rate of 10% per annum. The plaintiff is also entitled to costs to be fixed by the Registrar if not agreed.

Counsel for the plaintiff was Dana Stephenson, with Laki Niu SC counsel for the defendants.

Supreme Court [2]
Lord Chief Justice O. G. Paulsen [3]
Bank of South Pacific Tonga Ltd [4]
Westpac Bank of Tonga [5]
From the Courts [6]

Source URL:https://matangitonga.to/2017/02/21/court-orders-couple-repay-loan-interest

Links
[1] https://matangitonga.to/2017/02/21/court-orders-couple-repay-loan-interest [2] https://matangitonga.to/tag/supreme-court?page=1 [3] https://matangitonga.to/tag/lord-chief-justice-o-g-paulsen?page=1 [4] https://matangitonga.to/tag/bank-south-pacific-tonga-ltd?page=1 [5] https://matangitonga.to/tag/westpac-bank-tonga?page=1 [6] https://matangitonga.to/topic/courts?page=1