Polaris Bank Limited (“The Claimant”), represented by The Law Crest LLP, has successfully secured a favourable judgment for the recovery of debt against a former employee (“The Defendant”) of the Bank, further reaffirming the sanctity of contractual obligations and the enforceability of financial arrangements freely entered into by parties.
The action was commenced by the Claimant for the recovery of outstanding indebtedness arising from a loan facility advanced to the Defendant during the course of his employment with the Claimant. The Claimant’s case before the Court was that the Defendant, having obtained and fully utilised the loan facility, remained under a binding obligation to liquidate the outstanding balance upon his voluntary resignation from the Claimant.
