The court has also heard crucial evidence with regards to the performance of Woodlawn Capital in handling the fund, which dropped in worth from about $forty three million to about $thirty million.
He reported the only real ability he had acted in was "introducing people to possible opportunities in PNG".
"With volatility spiking it absolutely was tough to argue that the Australian market would not turn out to be embroiled within an aggressive selloff," Mr Hazard explained.
The corporation officer liable for using the positions was McNamara, who instructed the courtroom he had had unjustifiable self confidence from the energy of your Australian economy.
The revelations have emerged from a row above $43 million of PNG governing administration dollars that was squirrelled absent in a small place bank branch in Lismore in northern NSW.
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MVIL's pro witness Robert Risk, a financial assets trader in Australia specialising in spinoff buying and selling and fiscal financial commitment, alleged that in June 2011, Woodlawn's financial commitment strategy exposed MVIL to "significant danger".
"I am offered a fee for the introduction but that may be it. I usually do not negotiate or Participate in an active position in almost any of this".
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