Alexan­der Forbes ‘does not agree’ with rul­ing

Weekend Argus (Saturday Edition) - - GOODWINES -

Alexan­der Forbes says it does “not agree with all of the con­clu­sions reached by the learned act­ing judge” (JF Roos), and will be tak­ing ad­vice from coun­sel on whether it can ap­peal. Cu­ra­tor Tony Mostert has no com­ment apart from say­ing that “the judg­ment speaks for it­self”.

The out­go­ing chief ex­ec­u­tive of Alexan­der Forbes, Bruce Camp­bell, claims that, de­spite the set­back it re­ceived this week, Alexan­der Forbes con­tin­ues “with our on­go­ing ef­forts to re­solve the mat­ter to the ben­e­fit of pen­sion­ers”.

He says a suc­cess­ful join­der ap­pli­ca­tion may have en­cour­aged third par­ties to give fur­ther, se­ri­ous con­sid­er­a­tion to set­tling the mat­ter .

Camp­bell says the court action, which the judge de­scribed as “vex­a­tious”, was a “pre­lim­i­nary ap­pli­ca­tion which sought to have the same court de­ter­mine the li­a­bil­ity of all par­ties who par­tic­i­pated in the trans­ac­tions which the cu­ra­tor al­leges were un­law­ful, rather than dif­fer­ent courts de­ter­min­ing the same is­sues in dif­fer­ent tri­als”.

He also claims “we are ex­tremely anx­ious to find a speedy and fair res­o­lu­tion to the mat­ter. Al­though the lit­i­ga­tion pro­ceeds and we con­tinue to pre­pare our de­fences, this does not in any way pre­clude a com­mer­cial res­o­lu­tion and we have con­fi­dence in this ap­proach.

“An un­der­stand­ing of our per­spec­tive would in­di­cate that the three applications were brought to fa­cil­i­tate the ef­fi­cient and fair con­duct of the trial. We are very mind­ful of our re­spon­si­bil­i­ties in bring­ing the mat­ter to a sat­is­fac­tory con­clu­sion.

“The ap­pli­ca­tion for join­der was ... by no means an at­tempt to merely make a le­gal point. Im­por­tantly, it was a pre­lim­i­nary ap­pli­ca­tion which sought to have the same court de­ter­mine the li­a­bil­ity of all par­ties who par­tic­i­pated in the trans­ac­tions which the cu­ra­tor al­leges were un­law­ful ...”.

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