Randunu Dewage Kingsley Ananda Wickremasinghe vs LOLC Finance PLC and others – SC/CHC/APPEAL NO: 26/2020-2025

In the matter of LOLC Finance PLC and Randunu Dewage Kingsley Ananda Wickremasinghe, the court addressed the liability of the 1st Defendant for a loan facility. The court held that the 1st Defendant was liable for the loan amount, but varied the High Court’s order concerning the calculation of interest. This decision reaffirmed the principle that intention to create legal relations is assessed objectively based on external manifestations. The Plaintiff was awarded costs in both courts.

Arjuna Obeyesekere, J. – The Plaintiff’s action against the Defendants for Rs. 8,417,358 with interest resulted in a High Court ruling in favor of the Plaintiff. The 1st Defendant appealed. The Plaintiff’s case involved a loan agreement for Rs. 5,200,000 to settle the 1st Defendant’s liability with LOLC Fac