(c) Fewin Pty Limited would not have lent any significant sum to Mr Coshott to assist him in purchasing a home at any time earlier than the date on which the creditor's petition against Mr Coshott was dismissed.
30 Her Honour went on to note that the Creditor's Petition was dismissed on 8 May 2001 and two days later - an immaterial period for the purposes of this head of claim - orders were made by consent bringing an end to the s 50 trusteeship.
31 In light of these findings it was concluded that Mr Coshott had not established that, were it not for the s 50 orders, he would have been in a position to purchase a home of the kind that he intended to purchase earlier than 8 May 2001. Fewin Pty Ltd would not have provided him with financial assistance to purchase a home before 8 May 2001. In consequence such loss as he suffered from being unable to purchase a home flowed, not from the making of the s 50 orders, but from the fact of the bankruptcy proceeding which was not terminated until the 8 May 2001 dismissal of the Creditor's Petition.
32 We would emphasise, as her Honour noted, that Mr Ronald Coshott accepted in cross-examination that his preparedness to lend to Mr and Mrs Coshott was on the proviso that the bankruptcy petition was dismissed because, as he said, he might otherwise 'get caught up in the bankruptcy'.
33 Turning to the setting in which her Honour reached her conclusions, it is clear that, as matters stood at the time PSO presented its Creditor's Petition, Mr Coshott was probably insolvent. Mr Coshott's own affidavit evidence as of 9 April 2001 reinforces that conclusion. That evidence was that he had assets of $1,208,374.00 (including the moneys in the Trustee's hands resulting from the sale of the Vaucluse house); he had admitted debts of $580,177.07 and disputed debts of $133,235.12. Excluded, though, from his debts was the then judgment debt owed PSO of $1,355,239.74. That debt alone exceeded his assets.
34 The Opening Statement filed by the Coshotts in support of their motions as it related to this claim did no more than indicate that, by reason of the s 50 orders, Mr Coshott's half of the nett proceeds of sale were under the control of the Trustee from about 21 December 2000 to about the end of May 2001. As a consequence they were unable to make the purchase they intended. They so ascribed their loss to the orders themselves. No suggestion was made that their purchase was impeded because of the continuation until 8 May of the bankruptcy proceedings and that without the s 50 orders Mr Coshott could have secured the dismissal of the Creditor's Petition. It is the case, though, that in relation to another head of claim (Claim 8 in respect of legal costs) it was contended that had the s 50 orders not been made, Mr Coshott would have been able to deal with his other creditors and make alternative financial arrangements with them.
35 The purpose of the amendment now sought is so as to permit the Coshotts to advance the case that but for the s 50 orders they could have secured the dismissal of the Creditor's Petition. They seek to be able to put the following propositions. (i) By the time of the s 50 orders Shipton had been substituted for PSO as petitioning creditor and the debt owed to it was in the order of $50,000 (though not all of this was undisputed). (ii) If the s 50 orders had not been made, Mr Coshott would have received $1,195,394.73 on the sale of the Vaucluse property. (iii) Had he received that sum he would have paid out Shipton and would have had the Creditor's Petition dismissed. (iv) Therefore, but for the s 50 orders, he could and would have been in a position to buy another property with his wife. (v) Her Honour erred in making no finding as to the date upon which the Creditor's Petition would have been dismissed, but for the s 50 orders.
36 The respondent's contentions in opposition to the amendment also address the substance of the argument the appellants now seek to advance. The premise of those contentions is that unless and until PSO's judgment debt was set aside Mr Coshott remained hopelessly insolvent. In those circumstances, it is contended that: (i) it is unlikely that the respondent would have consented to the petition being dismissed and would have sought to become a substituted petitioning creditor; (ii) some other of Mr Coshott's creditors would not have accepted payment of their debts whilst the petition and judgment remained on foot (as his insolvency was apparent); (iii) the petition would have remained on foot until the Supreme Court set aside the judgment.
37 More fundamentally, as we earlier noted, the respondent submits that the case now sought to be put was not put below. That case could possibly have been met by the calling of evidence below. All of the facts have not been 'established beyond controversy': Water Board v Moustakas, at 497.
38 In our view leave to amend should not be given. It is fair to conclude that the reasons the primary judge did not consider whether the Creditor's Petition could or would have been dismissed at a date earlier than it was dismissed, were, first, because that was not an issue raised before her relating to this head of claim; and, secondly, because on the material before her the insolvency of Mr Coshott was manifest unless and until the judgment debt was set aside with the consequent unlikelihood of some at least of the creditors including PSO agreeing to the dismissal of the petition.
39 If the appellants were permitted to raise this new issue it may well be unlikely in any event to lead to any different result. More importantly, though, that issue presupposes the satisfactory making out of a counterfactual state of affairs - i.e. Shipton agreeing to be paid and no creditor being prepared to be substituted for Shipton: see Bankruptcy Act, s 49; cf McNamara v Langford (1931) 45 CLR 267 - which has not been the subject of evidence at all. As was said in the Water Board case (at 497) 'a point cannot be raised for the first time upon appeal when it could possibly have been met by calling evidence below'.
40 What remains of the appellants' appeal on the 'Loss of increase on Capital Value' falls within a narrow compass.
41 The appellants' contention is that her Honour erred in finding that they would not have been in a position to purchase a home prior to the dismissal of the Creditor's Petition on 8 May 2001. Rather, it is said, the correct date was 24 April 2001 when the judgment debt was set aside and Mr Coshott's solvency was established. The appellants further contend that Mr Coshott did not receive his funds from the Trustee until 30 May 2001. Whichever of the two dates (i.e. 8 May 2001 or 24 April 2001) was the correct date from which it could be said the Coshotts were in a position to purchase a home, they suffered loss from that date until 30 May when Mr Coshott received his proceeds from the Vaucluse sale. They are entitled to be compensated for that loss.
42 The respondent's contention is that her Honour properly concluded on the evidence that it was the pendency of the bankruptcy proceedings and not merely a lack of solvency that was the obstacle to the Coshotts' purchase of a house. For this reason the correct date was that found by her Honour, being 8 May 2001.
43 Furthermore the evidence is that Mr Coshott's solicitors received the proceeds of sale from the Trustee on 15 May 2001. From that date the money was subject to his control and disposition.
44 It is contended additionally that, on and from 8 May 2001, there was no impediment to the Coshotts acquiring a house and the s 50 orders in no way prevented them from doing so. They clearly had money to pay for any likely deposit. Financial assistance was available to them on Ronald Coshott's evidence. No evidence was given that the appellants wished to, or tried to, purchase a house between 8 May and 15 (or 30) May 2001 but were prevented from doing so because of the non-receipt of the funds. Again, it is said, the appellant are attempting to advance an argument not pursued at first instance.
45 In our view, the primary judge cannot be faulted for not finding that the Coshotts suffered a compensable loss for any one of the periods 24 April 2001 to 30 May 2001, 24 April 2001 to 15 May 2001, 8 May 2001 to 30 May 2001 or 8 May 2001 to 15 May 2001 on which the appellants rely in the alternative.
46 In our view, the correct terminal date of the impediment to the Coshotts purchase of a house was, on the evidence, 8 May 2001 when the Creditor's Petition was dismissed and the prospect of Fewin Pty Ltd being 'caught up in the bankruptcy' was eliminated. Equally, the correct date upon which Mr Coshott can be said to have received the proceeds was 15 May when his agent, the solicitors, received a cheque from the Trustee. But even if one or other or both of the other dates advanced by the appellants were the correct terminal and receipt dates respectively it would be of no consequence in this appeal.
47 The Coshotts have not established that they have suffered any damage for any of the above periods as a consequence of Mr Coshott being kept out of his money, notwithstanding that it was the s 50 orders which created the state of affairs without which such a delay would not have occurred.
48 There was no evidence of any actual impediment to their making a purchase which resulted from the s 50 orders and which occasioned a loss to them. There was no evidence of distinctive conveyancing practices in New South Wales that would have precluded them from contracting to purchase prior to Mr Coshott's receipt of the proceeds. There was no evidence that Frewin Pty Ltd was not from 8 May 2001 prepared to provide financial assistance. There was no evidence that they intended, but were unable as and from that date until 15 May, to contract to purchase a house.
49 We would dismiss the appeal as it relates to the 'Loss of Increase in Capital Value'. We would add that it is unnecessary that we express a view on the appropriateness of the measure of damage advanced in this head of claim and we refrain from doing so.