Leviston v PQ Management Pty Ltd (No 2) [2023] FCA 295

Leviston v PQ Management Pty Ltd (No 2) [2023] FCA 295

Given the potential for the expert to clarify his valuation methodology and respond to criticism, and as cross-examination is unlikely to be lengthy, leave should be granted to the defendants to cross-examine the court-appointed expert in the interests of justice.

Parties
Plaintiff: Andrew Troy Leviston; First Defendant: PQ Management Pty Ltd; Second Defendant: Donald Neal Ison; Third Defendant: Gregory Shane Eldridge; Fourth Defendant: Treated Waste Agencies Pty Ltd
Jurisdiction
Australia
Judgment Date
24 March 2023
Procedural Posture
Corporations Oppression Proceedings / Interlocutory Application for Leave to Cross Examine Court Expert
Outcome
Leave granted to cross-examine court expert; further hearing listed; costs reserved.
Legal Topics
Cross Examination of Court Expert, Share Valuation Methodology, Oppression Proceedings
Commercial Law Corporations Law Cross Examination of Court Expert Share Valuation Methodology Oppression Proceedings

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Parties

Andrew Troy Leviston

Plaintiff

PQ Management Pty Ltd

First Defendant

Donald Neal Ison

Second Defendant

Gregory Shane Eldridge

Third Defendant

Treated Waste Agencies Pty Ltd

Fourth Defendant

Procedural Posture

Corporations Oppression Proceedings / Interlocutory Application for Leave to Cross Examine Court Expert

Legal Issues

  1. 1 Whether leave should be granted to cross-examine the court-appointed expert under r 23.03(2)(a) of the Federal Court Rules 2011 (Cth)
  2. 2 Whether the methodology adopted by the expert for valuing company shares should be tested through cross-examination

Ratio Decidendi

Given the potential for the expert to clarify his valuation methodology and respond to criticism, and as cross-examination is unlikely to be lengthy, leave should be granted to the defendants to cross-examine the court-appointed expert in the interests of justice.

Court Disposition

Leave granted to cross-examine court expert; further hearing listed; costs reserved.

Orders

  • Parties granted leave under r 23.03(2)(a) of the Federal Court Rules 2011 (Cth) to cross-examine Mr Matthew Ashby as court expert.
  • Matter listed for further hearing at 9:30 am AEST on 5 April 2023.