(750) INTEREST PIQUED BY LAW REFORM?
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The Scottish Government launched a consultation in late January on a draft Interest (Scotland) Bill. The proposed bill would introduce a statutory right to claim interest on debts from the date they become due – rather than the current rule which provides that interest can be claimed from the point that payment is wrongfully withheld” (which is typically the date of the commencement of court proceedings). The bill would largely implement the proposals of the Scottish Law Commission in its report No 203