SPEEDWELL OIL CASE
LENGTHY JUDGMENT. INDUCEMENT AND DAMAGE. QUESTIONS FOR CONSIDERATION (Special to “Northern Advocate.’’) AUCKLAND, Thursday.' An extremely lengthy judgment was delivered today in the Speedwell oil case, in which 49 shareholders sued Harry Clinton McElwain, alleging that the promoters and the first directors of the company had made untrue representations in the prospectus and thereby induced them to subscribe shares. Mr Justice Smith, after dealing at great length with every point railed during the long hearing, decided that McElwain had knowledge of the facts upon which contravention .»£ the Act depended, and, therefore, is liable to pay compensation, inducement and damage is proved. The action therefore will be deferred for further ■ consideration of the questions of inducement and damage,.
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https://paperspast.natlib.govt.nz/newspapers/NA19330714.2.74
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Northern Advocate, 14 July 1933, Page 7
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120SPEEDWELL OIL CASE Northern Advocate, 14 July 1933, Page 7
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