APPEAL FAILS

Southland Times, Issue 22043, 16 June 1933, Page 8

APPEAL FAILS

LYSNAR v. NATIONAL BANK.

COURT’S JUDGMENT.

(Per United Press Association.) Wellington, June 15.

The Court of Appeal this morning delivered its reserved judgment in the case of W. D. Lysnar against the National Bank of New Zealand heard in March last. The majority of the Court (Justices Reed and Smith) held that the appeal should be dismissed. They stated: “In the result the judgment appealed from in our opinion is right and the appeal must be dismissed with costs on the highest scale, but not as from a distance.” Mr Justice Ostler said he should have liked to agree with the judgment of the majority of the Court, but he was unable to do so, even if he could, and if the appellant had succeeded in the full amount of his claim it appeared to him the appellant would still be hopelessly insolvent because he claimed only £50,000 and the Bank’s claim against him amounted to £70,000. For this reason all the litigation seemed merely beating the air. For the reasons contained in his written judgment he was of opinion the appeal should be allowed.

[ln August, 1932, a writ was issued by William Douglas Lysnar, of Gisborne, against the National Bank of New Zealand, claiming over £50,000 damages for alleged breach of contract. After a hearing extending over four days Mr Justice MacGregor gave judgment against plaintiff, allowing £250 by way of costs. The Court of Appeal heard the application of Lysnar. to revise this decision. In the pleadings in the court below plaintiff alleged that the bank agreed to reduce his liability for prior advances to £30,000, provided plaintiff secured from the East Coast Commissioner a further lease on the back portion of his property for a further term. Plaintiff claimed damages for the loss of equity in his farm property, of which the bank had taken possessiqn, for the value of the livestock and chattels, and for the increase of his liability to the East Coast Commissioner. The trial judge held'that the long-drawn-out negotiations had reached finality, and that a contract had not been proved.)