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Court of Appeal Wellington
22, 23, 24 May; 26 July 1978
Richmond P, Woodhouse and Richardson JJ
22, 23, 24 May; 26 July 1978
Richmond P, Woodhouse and Richardson JJ
Commercial law — Construction of transactions involving bills of exchange — Finance arranged for developer clients by bills of exchange drawn by client, accepted by a merchant bank and discounted to a discount house — In most transactions the merchant bank and the discount house were wholly-owned subsidiaries of a third bank — Documents not shams — Whether legitimate to lift "corporate veil" - Whether transactions moneylending transactions.