SUPREME COURT.

Gisborne Times, Volume VII, Issue 399, 25 April 1902, Page 3

SUPREME COURT.

CARROLL-WI PERE TRUST V. BANK OF NEW ZEALAND.

(Before His Honor Mr Justice Conolly.) At the Supreme Court yesterday the caso of Carroll and Wi Pcro v, the Bank of New Zealand was concluded.

It had been arranged the previous evening that Mr Rees should continue his address on tho following morning, but upon the Court resuming, Mr Rees said that as ho had traversed the chief point 3 of the address, he did not intend to elaborate on the minor details.

His Honor was surprised to hear this, for he was with Mr Rees that better accounts should have been prepared, although he was against him in regard to the injunction restraining the sale of the lands.

In dismissing the notice of injunction, His Honor said that it would bo necessary to settle the terms of the sale, but this could be done in Chambers. On the injunction point ho found for the defendants, but ordered that accounts be taken for plaintiffs. The third point had not been argued at all, and would be dismissed. Then there was the point as to the right to redeem, and he thought it was hardly to bo taken a 3 proved that the new matter had been accepted. When the amount of debt was rendered on each of the properties, the plaintiffs would be entitled to pay the amount to relieve any particular property. Mr Rees : I may state there are several properties whore we should be in a position to redeem.

Mr Bell said if the injunction had been refused, ho did not accede to the jurisdic-

tion of the Court to control the exercise by the bank of its rights under the contract. His Honor would see what would happen. The Court could not interfere so as to compel the bank to remain mortgagees 1n possession so long as the plaintiffs chose to string out the accounts. His Honor : No. We assume that you have to render accounts within a fortnight or a month, and then the sale could be arranged for a short time after. In the interim, by paying the accounts, the plaintiffs could redeem. Otherwise, the investigation of the accounts could be spun out into six months. Mr Bell submitted that the defendants were entitled to the costs of the trial, as they had succeeded on the whole of the claim. The question of accounts was not in question at the beginning of the ease.

Mr Rees said the struggle from the beginning was in connection with tho accounts. There would have been no action at all if intelligible accounts had been rendered. He had succeeded on this question, and therefore was entitled to costs.

His Honor: Mr Jackson seemed indifferent to getting accounts at all. According to the evidence, it seemed as if he had been lying by so as to be able to say that they never got the accounts. After hearing further argument on the question, His Honor said he thought on the whole that the defendant had succeeded on the substantial point, and, therefore, he would allow the costs.

Asked by His Honor to give an estimate, Mr Bell stated he thought the Bank ought to have £3OO costs, as the matter in dispute was a sum exceeding £120,000. Mr Rees : The sum is not in dispute. Costs should be on the middle scale, with costs of the trial action, as we have succeeded on a portion of the claim. Practically, we have obtained the object of the action in getting the accounts. His Honor said he would allow defendants £SO costs, including cost of preparing for the trial, with an allowance of 15 guineas per day for the three extra days of the case, and eight guineas for second counsel. In the afternoon His Honor sat in Chambers, and dealt with the minutes of decree in connection with the rendering of accounts.

It was made an order that the accounts should be rendered on May 15th next in respect to each of the validated titles. In regard to the paying off of accounts, His Honor thought that twenty-one days would be sufficient time for redemption. What the Court wished to prevent was the buying of the properties in at inadequate prices. Mr Bell said that his clients objeoted to taking any further security for the debt.

His Honor, with the consont of the parties, ordered that twenty-eight days for redemption should be allowed before the sale of properties, the sale to tako place on June 12th.

In reply to Mr DeLautour, the Registrar (Mr W. A. Barton) stated that tho properties had been advertised twioe a week for three months previous to the action.

The accounts were ordered to be made to the Registrar, who will also advertise the sale of the prdpartibs; the Vale of any block not to take place if the mortgagors tender payment in cash of tho amount due on June 11th.