ACN 117 641 004 Pty Ltd (in liq) v S&P Global, Inc (No 4) [2025] FCA 72

ACN 117 641 004 Pty Ltd (in liq) v S&P Global, Inc (No 4) [2025] FCA 72 File number(s): NSD 881 of 2020 NSD 73 of 2021

Judgment of: SHARIFF J

Date of judgment: 12 February 2025

Catchwords: EVIDENCE – expert evidence – admissibility – complex class action and investor proceedings – interlocutory application made under s 192A of the Evidence Act 1995 (Cth) for advance rulings on the admissibility of expert evidence – where ruling on admissibility necessarily involves the resolution of pleading issues in contest – whether the determination of admissibility should be deferred until trial – where objections taken to the entirety of certain expert reports on grounds of relevance – whether the opinions expressed based on expertise or specialised knowledge – whether opinions seek to impermissibly describe and interpret documents - whether experts lacked the expertise necessary to opine on what matters would be "obvious" to industry participants – whether expert reports failed to disclose adequate reasoning to support the conclusions drawn – whether it is in the interests of case management principles to permit multiple experts to be asked the same or similar questions – whether expert opinions relevant to counterfactual case

Evidence Act 1995 (Cth) ss 76(1), 192A Legislation: Federal Court of Australia Act 1976 (Cth) ss 37M, 37P(3)(c) Federal Court Rules 2011 (Cth) r 16.42

Australian Securities & Investments Commission v Vines [2003] NSWSC 1095; (2003) 48 ACSR 291 Australian Securities and Investments Commission (ASIC) v Cassimatis (No 5) [2016] FCA 612; (2016) 343 ALR 358 Australian Securities and Investments Commission, re Whitebox Trading Pty Ltd v Whitebox Trading Pty Ltd [2017] FCA 324 B&K Holdings (Qld) Pty Ltd v Garmin Australasia Pty Ltd [2019] FCA 64; (2019) 134 ACSR 404 Bailey v Director-General, Department of Natural Resources [2013] NSWSC 515 Berry v CCL Secure Pty Ltd [2020] HCA 27; (2020) 271 CLR 151 Clark v Ryan [1960] HCA42; (1960) 103 CLR 486 Dasreef Pty Ltd v Hawchar [2011] HCA 21; (2011) 243 CLR 588 Davaria v 7-Eleven Stores Pty Ltd (No 9) [2021] FCA 473 Derry v Peek (1889) 14 App Cas 337 Evans v The Queen [2007] HCA 59; (2007) 235 CLR 521 Festa v The Queen [2001] HCA 72; (2001) 208 CLR 593 Franklin v Regina [2021] NSWCCA 260 Gondarra v Minister for Families, Housing, Community Services and Indigenous Affairs [2012] FCA 185; (2012) 127 ALD 288 Cases cited: Herron v HarperCollins Publishers Australia Pty Ltd [2022] FCAFC 68; (2022) 292 FCR 336 Honeysett v The Queen [2014] HCA 29; (2014) 253 CLR 122 John McGrath Motors (Canberra) Pty Ltd v Applebee [1964] HCA 1; (1964) 110 CLR 656 Lambert Leasing Inc v QBE Insurance Australia Ltd [2012] NSWSC 953 Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No 2) [2019] FCA 93 Lucantonio v Kleinert [2009] NSWSC 853 Magill v Magill [2006] HCA 51; (2006) 226 CLR 551 MB v Protective Commissioner [2000] NSWSC 718; (2000) 217 ALR 631 McNickle v Huntsman Chemical Co Australia Pty Ltd (Expert Evidence) [2021] FCA 370 NA & J Investments Pty Ltd v Minister Administering Water Management Act 2000 [2012] NSWLEC 120 Novartis AG v Pharmacor Pty Ltd [2022] FCAFC 58; (2022) 290 FCR 345 Re Whitebox Trading Ltd [2017] FCA 324 Sydneywide Distributors Pty Ltd v Red Bull Australia Pty Ltd [2002] FCAFC 157; (2002) 234 FCR 549 The Owners - Strata Plan No 90189 v Parkview Constructions Pty Ltd [2022] NSWSC 1382 Wingecarribee Shire Council & Ors v Lehman Brothers Australia Ltd (ACN 066 797 760) (in Liq) [2012] FCA 1028; (2012) 301 ALR 1 at [313]