SPEEDWELL OIL CASE
LENGTHY JUDGMENT DELIVERED. TWO POINTS TO BE CONSIDEREDBy Telegraph—Press Association. . Auckland, Last Night An extremely lengthy judgment was delivered to-day in the Speedwell Oil case, in which 49 shareholders sued Harry Clinton McElwain, alleging that the promoters and first directors of tha 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 McElwain had knowledge of the facts, upon which contravention ofthe Act depended, and therefore he was liable to pay compensation, provided inducement and damage were proved. The action will therefore be deferred for further consideration of the questions of inducement and damage.
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Taranaki Daily News, 14 July 1933, Page 6
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119SPEEDWELL OIL CASE Taranaki Daily News, 14 July 1933, Page 6
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