The applicant commenced action proceedings under case number HC 996/17 against the respondents claiming US$45,057.54 being the balance outstanding on an alleged debt of US$60,770.00. The applicant's summons was based on a loan agreement allegedly advanced to the 1st respondent, with the 2nd, 3rd and 4th respondents having signed an "Individual Guaranty". However, in the summary judgment application, the applicant relied on an acknowledgment of debt rather than the loan agreement pleaded in the summons. The respondents defended the matter, denying the existence of a loan agreement and instead averred that there was a joint venture agreement between the parties involving Mr Lepar (a director of the applicant) who had injected monies. The respondents provided detailed averments about the failed joint venture, including exact amounts contributed and terms of repayment, and raised issues regarding the interest rate being contrary to the Money Lending and Rates of Interest Act.