Can an illegal loan be enforced?
In SR Projects Ltd v Rampersad Re Hindu Credit Union Co-Operative Society (Trinidad and Tobago) [2022] UKPC 24, a majority of the Privy Council overturned the decision of the Court of Appeal of Trinidad and Tobago that a loan taken out contrary to statute was void and so unenforceable, either as ultra vires (outside) the powers of the borrower, or for illegality.