Frank Jasper Pty Ltd v Glew [No 3]

Frank Jasper Pty Ltd, represented by their solicitor, brought an action against Glew, seeking damages for misleading and deceptive conduct. The matter was heard in the Federal Court of Australia, where the plaintiff's claim included a demand for damages in foreign currency. Glew contested the claim, arguing that the amount claimed was erroneous and that the plaintiff had failed to properly account for certain expenditures. The central issue before the court was whether the errors in the claim could be rectified through an independent auditor's report and whether the conversion of foreign currency damages should be based on the exchange rates at the time of expenditure. Additionally, the court had to determine whether it could take judicial notice of exchange rate data published by the Reserve Bank of Australia.

The court examined the plaintiff's claim and found that the inclusion of erroneous amounts was a procedural error. However, the court accepted that the independent auditor's report provided a reliable basis for correcting these errors. Regarding the conversion of foreign currency damages, the court held that the appropriate exchange rate was the one that existed at the time of each expenditure, rather than the rate at the time of judgment. Furthermore, the court ruled that it could take judicial notice of exchange rate data published by the Reserve Bank of Australia under section 85A(1) of the Reserve Bank Act 1959 (Cth). Consequently, the court found that the plaintiff's claim, once corrected, was valid and enforceable.

Based on its findings, the court allowed the plaintiff's claim to the extent that it was corrected by the independent auditor's report and determined the appropriate conversion rates for the foreign currency damages. The court ordered Glew to pay the corrected amount to the plaintiff, taking into account the exchange rates at the time of each expenditure. The court also noted that the Reserve Bank of Australia's published exchange rate data was admissible as evidence under the relevant statutory provision. This decision underscores the importance of accuracy in pleadings and the court's ability to rely on authoritative sources for exchange rate data.