n Without Prejudice - Nothing usurious about this mezzanine funding : financial law
|Article Title||Nothing usurious about this mezzanine funding : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Norton Rose South Africa|
|Publication Date||Jun 2011|
|Pages||7 - 8|
The South Gauteng High Court recently ruled that the interest rate of up to 1.5% per month applicable to mezzanine funding is not usurious and does not constitute an unlawful penalty in terms of the Conventional Penalties Act (51 of 1962).
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