SPEEDWELL OIL CASE.
JUDGMENT OF COURT, j (MUB3* ASSOCIATION raUKHti*.) \ AUCKLAND, July IS- 5 i A long judgment was delivered to 4 day in the Speedwell Oil case, i« > which 49 shareholders sued Harry :"j Clinton McElwain, alleging that the promoters and first directors of the company had made untrue representations in th 6 prospectus and had > by induced- them to subscribe shares. Jj His; Honour, Mr Justice Smith, aftef p dealing "with every point raised duft ing the long hearing, decided that Mc- . Elwain had a knowledge of the fW" - upon which the contravention of W Act depended, and therefore he waj liable to t>ay compensation proviaeo that inducement and damage wert proved. Action will, therefore, be tie* ~ ferred for further consideration of.tM - question of inducement and damage..
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Press, Volume LXIX, Issue 20907, 14 July 1933, Page 8
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129SPEEDWELL OIL CASE. Press, Volume LXIX, Issue 20907, 14 July 1933, Page 8
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