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Brief on Islamic Finance Cases 1987 – 2009

In this case, the respondents had leased certain printing equipment to the appellants under the lease agreement of its letter of credit financing facility. The appellants, having defaulted in payment of the monthly rentals, led the respondents to bring an action to recover possession of the equipment and to recover the arrears of rent. The respondents also made an ex parte application for and obtained a mandatory injunction to enable them to recover possession of the equipment. The appellants then applied to dissolve and set aside the mandatory injunction; however, this was refused, and the appellants subsequently appealed.