Metcalfe, P.W. v NZI Securities Australia Ltd

[1995] FCA 143

NOT FOR DISTRIBUTION

FEDERAL COURT OF AUSTRALIA       )
NEW SOUTH WALES DISTRICT REGISTRY )    No 397 of 1992
GENERAL DIVISION                 )

BETWEEN:

PETER WILLIAM METCALFE
  Applicant

AND:

NZI SECURITIES AUSTRALIA LTD

NZI CAPITAL CORPORATION LTD

and MICHAEL EDWARD WAYLAND
  Respondents

SACKVILLE J.
SYDNEY
17 MARCH 1995

RULING ON EVIDENCE

HIS HONOUR:   In my view Mr Nelson's qualifications, as dealt with in more detail in his affidavit of 8 March 1995, provide a basis for him expressing a view as to what a prudent lender would have done in April 1990. 

In paragraph 8 of the affidavit of 6 February 1995 Mr Nelson states the course that he considers that a prudent lender would have taken.  There is some ambiguity in the language with which this is expressed.  However, in substance, I would regard this as responding to the expressions of opinion given by Messrs Illman and Shaw and I propose to allow paragraph 8 to be read. 
Mr Coles, I think, accepts that the last sentence of paragraph 7  will stand or fall with paragraph 8 so I shall allow the last sentence of paragraph 7 to be read as well.

I certify that this and the preceding 1 page are a true copy of the Reasons for Judgment of the Honourable Justice Sackville.

Associate:

Dated:

Heard:17 March, 1995

Place:            Sydney

Decision:17 March, 1995

Appearances:      Mr J. Hamilton QC and Mr N. Francey, instructed by Blessington Judd, Solicitors, appeared for the applicant.

Mr B. Coles QC with Mr D. Robinson and Mr M. Ashhurst, instructed by Holmes & Bevan, Solicitors, appeared for the respondents.