FGT Custodians Pty Ltd (formerly Feingold Partners Pty Ltd) v Fagenblat [2003] VSCA 33
[2003] VSCA 33
At a glance
Source factsCourt
Court of Appeal (Vic)
Decision date
2003-04-15
Before
ORMISTON, CHERNOV and EAMES, JJ.A.
Source
Original judgment source is linked above.
Judgment (57 paragraphs)
- For the reasons stated by Ormiston, J.A. I agree that the appeal should be allowed and a new trial be ordered on the terms suggested by his Honour.
- This was not a case where the outcome in the trial depended on findings as to the credibility of witnesses. This, then, is not an instance where the trial judge, by virtue of having seen the witnesses, had a significant advantage over the judges in the appellate court in making findings of fact. As Ormiston, J.A. makes clear in his detailed analysis of the evidence, the relevant questions of fact as to the valuation of the partnership primarily fell to be resolved by the drawing of inferences from documentary evidence, and did not turn on assessments of credibility. Indeed, the learned judge did not suggest otherwise, and his one reference to the honesty of the respondent's evidence related to his assertion as to his intention, as at one relevant time, to remain with the firm as a consultant employee. That evidence, even if accepted as honest, in the face of challenge, did not preclude a finding that, objectively, it was not likely that he would do so for a substantial time after 30 June 2000. For the reasons stated by Ormiston, J.A., the conclusion reached by the learned trial judge as to that issue was flawed by significant errors in his analysis of the evidence.