A DECISION
IN SPEEDWEti OIL CASE
(Pei Press Association—Copyright).
AUCKLAND, July 13
An extremely lengthy judgment was delivered to-day in the Speedwell Oil case, ill which forty Aline shareholders sued by Harry Clinton MeElwain, alleging that the promoters and the first directors of the Company made untrue representations in the prospectus and thereby (induced them to ..subscribe shares.
Mr Justice Smith, after dealing at great length with every point raised during the long hearing, decided that, MeElwain had knowledge of the facts upon which the contravention of the Act depended, and therefore he was liable to pay compensation, provided that inducement and damage wore proved.
“Action will therefore he deferred for further consideration of the nnestions of inducement and damage.”
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Hokitika Guardian, 13 July 1933, Page 6
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120A DECISION Hokitika Guardian, 13 July 1933, Page 6
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