Ithaca (Custodians) Ltd v Perry Corporation - [2003] 2 NZLR 216

Commercial law — Securities regulation — Disclosure by substantial security holder of relevant interest — Meaning of “understanding or arrangement” — Whether disclosure required of securities able to be obtained by unwinding equity swap arrangement — Purpose of disclosure requirements — Onus of proof — Appropriate penalties for non-disclosure — Securities Markets Act 1988, ss 2, 5, 20, 21, 22, 32 and 43.

Evidence — Witness — Inference to be drawn from failure to call witness.