Metcalfe, P.W. v NZI Securities Australia Ltd & Ors [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.