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\li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 BETWEEN: \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 \par }\pard \qc \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 JOHN SHANKARAN RAJU}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par Plaintiff \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \qc \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 AND: \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 \par }\pard \qc \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 SHIU NARAYAN \par }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Defendant \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid672478 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 Judgment of: Inoke J. \par \par Counsel Appearing}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 : Mr V Mishra with Ms M Prasad for the Plaintiff \par Dr Sahu Khan for the Defendant \par \par }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 Solicitors}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 : Mishra Prakash & Assoc for the Plaintiff \par Sahu Khan & Sahu Khan for the Defendant \par \par }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 Date of Hearing: }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 29 October 2009, 29 January 2010}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 \par Date of Judgment: }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 2 June 2010}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid672478 \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165 \par }\pard \qc \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid672478 {\b\lang2057\langfe1033\langnp2057\insrsid672478\charrsid672478 FINAL JUDGMENT \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid672478\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 INTRODUCTION \par }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [1]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 This is a dispute over a business arrangement between family members that has gone bad.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff alleges that he lent AUD$70,000 to the Defendant in 2003 and 2004 for him to set up a business in Australia.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Between 2004 and 2005 he said the Defendant repaid AUD$12,000 to a bank account in Australia then stopped.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant then promised to pay the balance by a transfer of half of his shareholding in his Australian company and his other company trading in Fiji and directorships in both companies.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant only made him a director of the Australian company without the transfer of shares.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff says his attempts to get the Defendant to pay his money back were met with rejection and abuse.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He now sues for the balance and interest, expenses and costs. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [2]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defence was basically that the money was lent to the Australian company as an investment. The transfer of shares was part of the investment agreement in respect of the Australian company but the transfer of shares in the Fiji company and directorship was never part of the agreement. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 CASE HISTORY \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [3]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Writ and Statement of Claim}{\cs22\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \chftn {\footnote \pard\plain \s20\ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs22\super\insrsid3867165 \chftn }{\insrsid3867165 Minor amendments made in November 2009 and at the trial.}}}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 was filed on 6 March 2006.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Service was acknowledged on 30 March 2006 and the Defence was filed on 24 April 2006.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 On 26 September 2007, the order for the matter to be set down for trial was made by the Master.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant changed his solicitors to his current solicitors on 21 January 2008 who filed an Amended Defence on 1 February 2008.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Reply was filed on 26 March 2008.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Several directions hearing followed before the Pre-Trial Conference Minutes were filed on 22 August 2008.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The matter was then set down for hearing on 6 May 2009 but the Court was not able to hear it and was reset for 17 and 18 September 2009.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 However, because of the unavailability of one of the overseas witnesses the hearing was adjourned by consent for hearing on 29 October 2009 followed by oral submissions on 29 January 2010. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 THE STATEMENT OF CLAIM}{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [4]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff says in his Am ended Statement of Claim that in 2002 and 2003 he, at the requests and pleas of the Defendant, lent and/or paid AUD$70,000 to the Defendant for the setting up of a business in Australia.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant agreed to repay the money with interest at 10% pa.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He m ade repayments into a bank account in Australia between 29 October 2004 and 11 November 2005 totalling AUD$12,000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant could not continue with the repayments so he offered to the Plaintiff directorships and half share-holdings in an Australian company, }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Macquarie Traders Proprietary Limited}{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 , and a Fiji company, }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Global Cargo Traders Limited}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 .}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Despite the promise, the Defendant only signed papers for the Plaintiff to be a director in the Australian company. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 THE DEFENCE \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [5]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant does not deny that the money was lent but says it was lent to the Australian company as an investment in it.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was agreed that eventually, upon the Plaintiff\rquote s request, he would be issued shares in the company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant however, denies that there was any agreement to issue shares in the Fiji company to the Plaintiff or to make him a director. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [6]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In any event, the Defendant says that this was an illegal loan because of ss 7 \endash 10, 13, 14 and 16 of the }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Exchange Control Act}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 , the }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Reserve Bank Act}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 and ss 8, 16 and 18 of the }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Money Lenders Act}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 . \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [7]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant also says that $13,000 was paid back and not just $12,000. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 THE EVIDENCE AT THE HEARING \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [8]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff gave evidence.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said he has known the Defendant since 2000.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He met the Defendant when he came to Australia.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He is related to him from this wife\rquote s side.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant said to the Plaintiff and his wife that he needed money to run a business of selling second hand motor mowers from Sydney by bringing them to Fiji in containers. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [9]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said he lent the money to the Defendant.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was to be repaid with interest at 10% pa.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant gave him a Westpac bank account number to deposit the money in it.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The money was lent in several sums totalling $70,000 - $3,000, $7,000, $28,000, $2,000 then $30,000.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The first $10,000 came from his wife.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was withdrawn from a fixed deposit account earning 10% pa.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The $28,000 came from the Plaintiff.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The $2,000 was the value of chainsaws which he gave the Defendant.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The balance of $30,000 came from a bank loan which was secured by a mortgage over his house in Australia at 12.5% pa.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He still owed $200,000 on his mortgage. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [10]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He recognised an extract from the Australian company\rquote s Minute Book signed by the Defendant (P2).}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It recorded the tabling of an application to buy 50% shareholding in the company from the Defendant, the Defendant\rquote s consent to the transfer and resolution to transfer the shareholding to the Plaintiff as from }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 1 July 2003}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 . The extract is undated but the application for shares was dated 1 July 2003.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff also recognised an extract from the Minute Book (P3) stating that he was appointed as a director of the company on }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 27 July 2003}{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 , also signed by the Defendant.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 These documents were prepared by the company accountant.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff was appointed a director but never became a registered shareholder.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 A search of the company (ABD}{\cs22\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \chftn {\footnote \pard\plain \s20\ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs22\super\insrsid3867165 \chftn }{\insrsid3867165 Agreed Bundle of Documents.}}}{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 8) by his solicitors in June 2005 showed that the Plaintiff was appointed a director on }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 27 July 2003}{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 but all of the company\rquote s 1,000 fully paid up $1 ordinary shares were still held by the Defendant. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [11]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said the agreement to transfer shares in the Australian company came about after he lent $28,000 and the $2,000 worth of chainsaws.} {\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant wanted more money.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He knew nothing about the company before hand.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant then said that he would transfer half of the shares in that company to him.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant also promised to give him the same for his Fiji company, Global Cargo Traders Ltd. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [12]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In cross examination, the Plaintiff said that he did not want to invest in Macquarie Traders at first but the Defendant forced him into it later because the Defendant did not want to repay his money.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He knew and understood what the company documents were when he signed them in July 2003.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He also confirmed that he was to get shares in the Fiji company too although he admitted that he did not get FTIB approval but thought it was the company secretary\rquote s job to get it.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He knew that he was investing in the company which was to buy goods in Australia and deliver them to Fiji and that was what he agreed upon.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He also understood that he was to be half owner of the Fiji company because the Defendant told him that he would bring the money from Macquarie Traders to Global Traders to buy a property in Rakiraki.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He was to be a half owner of that as well.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was only on that basis that he agreed to invest in Macquarie Traders.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Forty thousand dollars was for Macquarie Traders and $30,000 was to be paid to Global to buy a building in Rakiraki. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [13]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He confirmed that he only received $12,000 back.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The payments were made in bank cheques issued monthly by Macquarie Traders between 29 October 2004 and 11 November 2004 of $1,000 each.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He gave the deposit slips to the Defendant and the Defendant deposited the moneys in his account.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 When he went to Rakiraki and asked the Defendant for the balance of the loan, the Defendant swore at him and his wife. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [14]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In November 2005 he got his wife to write a letter of complaint to the Australian Securities and Investments Commission (ASIC) about the Defendant which he signed (ABD10).}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said it was to inquire whether the Defendant had transferred the shares in the Australian company, Macquarie Traders Pty Ltd, to his name.} {\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The letter was not dated but it was noted as having been posted on }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 3 November 2005}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 .}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The complaint was in respect of events in September 2004.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The letter said: \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \ql \li720\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I was asked to invest in the company and become a director and shareholder 1/7/03.}{ \b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I borrowed $28,000 and paid this to Macquarie Traders 4/7/03.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I further borrowed 2049 on 16/7/03 for goods \endash chainsaws \endash a further $30,000 was borrowed on 8/8/03, after speaking with accountant.}{ \b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I was told I was to be made a shareholder.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I am not listed as a shareholder, also a company director.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I have never been advised of any meetings of directors or any AGM of the company.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 When speaking with Mr Narayan he told me he could not give me any shares.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I have seen no documentation of goods sent overseas.}{ \b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I can\rquote t pay back any money in lump sum or any other way.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I have not received any money back.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I have information that he purchased a business in Fiji with money that belongs to Macquarie Traders. I also know that he has recently been deported to Fiji on 12 September 2005.}{\b\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Also I have been told that Mr Narayan\rquote s son Anish Narayan is currently running Macquarie Traders without my authorisation as a director. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 \par }\pard \ql \li720\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I wish to find out how I stand as a director to take over the running of this company. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 \par }\pard \ql \li720\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Please advise me asap. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [15]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 A short reply from ASIC dated 8 November 2005 was followed by a full response dated 25 November 2005 which basically stated that the Plaintiff should seek professional advice because the Commission could not assist. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [16]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It is an agreed fact that on 3 January 2006 the Plaintiff met the Defendant at his office Rakiraki.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff said that he asked for his money but was abused by the Defendant and was chased out of the office.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant denies it. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [17]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff\rquote s wife gave evidence.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant is her mother\rquote s cousin.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He came to see her in October 2000 to ask for money from the Plaintiff.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He came 3 times.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In October 2000, the Defendant asked for $3,000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In February 2003, he came to her house in Sydney and asked for $7,000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 She gave the money to the Plaintiff who gave it to the Defendant.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was from her own bank account.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Macquarie Traders was not mentioned in their meetings and she had not heard of it before. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [18]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant\rquote s evidence was that he lived in Sydney from 2002 to 2005.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He came back to Fiji in September 2005.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He was not deported from Australia.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The $70,000 was lent to Macquarie Traders and not to him personally.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff was to take half of the shares in that company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Fiji company is owned by him and his wife.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He denies that the Plaintiff was to be given shares in that company.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said, it was the Plaintiff and his wife that were coming to his place to see him about investing in Macquarie Traders.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He told them that the company needed $70,000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was the Plaintiff that offered to invest $3,000 first and then later the amounts totalling $70,000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He confirmed that $12,000 had been repaid plus an additional $1,000 by cash from a company cheque issued by his son.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff agreed to buy shares in Macquarie Traders from the balance but not in the Fiji company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He said he gave the transfer of shares to his accountant to register it.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff did come to ask for his money back but he told him that he was only entitled to shares and not the money.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He is willing to transfer the shares in Macquarie Traders. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [19]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 In cross examination the Defendant said he was educated to Form 4 level.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He stayed in Australia for 7 years on a business visa.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Fiji company was not formed until 2000 after he had gone to Australia.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The company search shows that the company was registered on 25 February 2000.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Although he admitted that such a loan to an Australian company would be documented, he did not produce any documentation to show it.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The reason, he said, was that the documents were in Sydney.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He did not answer when it was put to him that he was not telling the truth, that he should have disclosed the documents but was deliberately withholding them. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [20]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant however under intense cross examination said that the $7,000 and t he $3,000 were lent to Macquarie Traders which the company paid back.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Then after that the Plaintiff asked for shares in the company. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 ANALYSIS OF THE EVIDENCE \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [21]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I do not think that the Plaintiff\rquote s claim based on a loan to the Defendant personally can s tand in the face of the transfer of shares and his appointment as director in Macquarie Traders.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 These documents (July 2003) pre-dated the repayments of the $12,000 (October 2004 to November 2005).}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [22]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It seems to me that the first lot of money totalling $10,000 was lent to the company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It came from the Plaintiff\rquote s wife.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It seems to me that the only plausible explanation was that the repayments were to repay this loan as the Defendant said. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [23]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Thereafter, the Plaintiff invested his own money in the company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The first investments of $28,000 and the $2,000 worth of chainsaws were made on }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 4 and 16 July 2003}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 - the Plaintiff\rquote s own evidence as recorded in his letter of complaint to ASIC.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It was around this time that the transfer of shares (}{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 1 July 2003}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 ) and the appointment as director of the company (}{ \b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 27 July 2007}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 ) were executed.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The purchase of the chainsaws supports what he said the company was trading in. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [24]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Also, the Plaintiff\rquote s own letter to ASIC in November 2005 only spoke of investment in the company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I do not accept that he was mistaken or that his then wife incorrectly wrote what he wanted written.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 As he said in his evidence, he knew and understood what he was signing.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I do not accept that this was a case of }{\i\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 non est factum}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 or deceit by the Defendant.}{ \lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 It is simply a case of an investment gone wrong. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [25]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I do not accept that the Plaintiff was promised shares in the Fiji company.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{ \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The lack of documentation suggests that no such promise was made.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Why was the same not done for the Fiji company as for the Australian company?}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Also, the Plaintiff is an elderly man living in Australia and I would be surprised if he was interested in investing in Fiji. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [26]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Having so found on the evidence that this was a failed investment of AUD$60,000 rather than a loan, the Plaintiff\rquote s claim for repayment of AUD$58,000 must fail.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 He is only entitled to registration as owner of 500 ordinary fully paid up $1.00 shares in Macquarie Traders Pty Ltd.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Defendant says he is willing to transfer those shares to the Plaintiff but there being no such relief being claimed, I accordingly make no order in this regard and leave it to the Defendant to honour his promise as he had given u nder oath to this Court. \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [27]\tab}The initial loan of AUD$10,000 by the Plaintiff\rquote s wife had been repaid so no claim can be made in that respect as well. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 COSTS \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [28]\tab}}\pard\plain \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 This is a family matter which should have been resolved without resort to this Court.}{\lang2057\langfe1033\langnp2057\insrsid3867165 }{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 I therefore exercise my discretion and make no order as to costs. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid9704435 ORDERS \par }{\b\ul\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par {\listtext\pard\plain\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \hich\af0\dbch\af0\loch\f0 [29]\tab}}\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid3867165 { \lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Orders}{\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 are therefore as follows: \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \ql \li720\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 1. }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 The Plaintiff\rquote s claim is dismissed. \par }\pard \ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard \ql \li720\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid3867165 {\b\lang2057\langfe1033\langnp2057\insrsid3867165 2. }{\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 There is no order as to costs. \par }\pard\plain \s23\ql \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 \par }\pard\plain \qc \li0\ri0\nowidctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3867165 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\lang2057\langfe1033\langnp2057\insrsid3867165\charrsid3867165 Sosefo Inoke \par Judge}{\lang2057\langfe1033\langnp2057\insrsid1972231\charrsid3867165 \par }}