THE LYSNAR CASE

Otago Daily Times, Issue 22716, 31 October 1935, Page 6

THE LYSNAR CASE

CLAIM LARGELY DISALLOWED JUDGMENT ON COUNTER-CLAIM RETAINED (Per United Press Association) WELLINGTON, October 30. In the Supreme Court to-day Mr Justice Blair disallowed the greater part of the claim for approximately £137,000 brought by William Douglas Lysnar, station owner ami cx-member of Parliament, against the National Bank of New Zealand. His Honor allowed one sum of £42,000 by reason of the fact that the bank in a counter-claim was allowed to retain judgment for approximately £72,000. The other part of the judgment in favour of Lysnar was for tlio sum of £l5O. The judgment covered 72 typewritten foolscap pages and took more than two hours to read. Last year Lysnar succeeded in an .appeal to the Privy Council which decided that there was a contract between him and the bank. He then asked the court to assess the damages for him against the bank because of an alleged breach of this contract which concerned his Arowhana station and the bank's advances in connection with the running of the property. It was contended for the bank that the claim was offset by Lysnar's indebtedness to it, which the bank alleged was greater than the amount he was entitled to claim. Regarding the claim for £11,740 for the revival of the liability due to the East Coast Commissioner, the judgment said that as the bank had settled that matter shortly before the hearing no damages became payable to the plaintiff, the sole remaining question being one of costs. Nothing was allowed on the claim for £42,874 for the loss of the plaintiff's rights to the Mangaotane block. Dealing with the claim for an increase in the liability to the bank of £42,000 or such eum as should be ascertained to represent the increase as at the date of judgment, this referred to the difference between the amount of the plaintiff's indebtedness to the bank before and after the reduction provided for in the agreement of May, 1931. This matter is specifically dealt with in the judgment, the result being that the plaintiff's claim is allowed by reason of the fact that the bank in its counter-claim is allowed to retain its judgment for the full amount of approximately £72,000 claimed by it. Certain adjustments relating to interest are also provided for. Regarding the claim for £2OOO a year for the detention of the Arowhana property, the claim was disallowed except for £l5O. Claims for £28,871 for the loss of stock on the property and £2749 for wool, carcasses, etc., in existence at the time the bank took possession were disallowed. Ae to the counter-claim by the defendant bank and the judgment either entered or agreed to be entered pursuant to the arrangement of August... 1933, this judgment is to stand.