Sol Gen explains why Titans International Securities Folded
Solicitor General Nigel Hawke appears on behalf of the Attorney General. During his turn before the bench, the Sol Gen argued that Titan International Securities folded as a result of the indictment and not as a consequence of the raid on its premises.
Nigel Hawke, Solicitor General
Nigel Hawke
“It is our respectful submission that they were suspended and as a consequence of that suspension they could not operate. The appellants are asserting, they are propounding the position that it is as a consequence of the search conducted by servants of the state. We dispute that. We say when you look at the evidence and I’ll take the court to it shortly, it is clear what impacted the business was in effect the suspension of the company. Even taken at its highest your honor, if the company had not been suspended what really caused, maybe I can use the terms of his honor Mr. Justice Hayton, the cancer for the company is the unsealing of the indictment by the United States Eastern District Court. It was on that occasion that the business was, for all intents and purposes, ruined and I think this was accepted by the learned trial judge in his contentions and analysis of the circumstances of the business. We say number two, the treatment of the evidence by the learned trial judge, her Ladyship Madame Justice Hafiz used the terms, “the use of rejected evidence by the learned trial judge”. We respectfully submit that the learned trial judge found himself into a jurisprudential knot in terms of his treatment of the evidence. Why do we say that? On the one hand what the learned trial judge sought to say was that in relation to the expert evidence I find that it’s unreliable. I find that it was overestimated; I find that this business was basically ruined, but on no other basis he awarded four point
nine million dollars.”
The matter was heard by justices Winston Anderson, Jacob Wit, Adrian Saunders, David Hayton and Rajnauth-Lee. A decision has been reserved.
