The Death Knell to Loan Sharks by the Supreme Court of Japan: Excessive interest payments held to be returned to borrowers with statutory interest
November 9th, 2007
On July 13, 2007, the Supreme Court of Japan held in two cases that consumer-loan companies return not only excessive payments of unlawful interest to borrowers but also to pay the statutory interest that accrued from the excessive payments, because the consumer-loan companies were found to be bad faith beneficiaries of unjust enrichment. Japanese courts [...]



