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Judge : - The 800 $ is 90 $ , so there is a difference . Now , what do you say about the
city bank commencement , whereby there are some 2.000 owed $ that you have said
you have not attended to, in your accounting ?

Speaker 2: - I'm actually surprised that that was said and I'll explain why , if I can .

Judge : - Why ?

Speaker 2: - Because , when we went through this exercise with Mister Willis , we took
out all of the ammounts . It's been accounted for separately , because there is an
amended statement of claim 47 and we went through with him , through the calculation,
which is that . So I'm surprised that it's such a disgrace , because it has already been
accounted for . Because we have already accounted for it and went payment by
payment , payment by payment , and we have accounted for it , it doesn't need to be
doubly accounted , in this spreadsheet . So , to say that it's missing -

Judge : - So , where do you say that it's doubly accounted ?

Speaker 2: - What I am saying -

Judge : - In the spreadsheet , where do you say it's doubly accounted ?

Speaker 2 : - If we were to put it back ,would be double account it , because we had


already attended to it and I -

Judge : - What do you mean by " It was already attended to ?"

Speaker 2: - If I could hand this , here .

Judge : - I need to understand what you mean by " It was already attended to . " ?

Speaker 2: - So , for example , item seven -- if I could ask your honor for it .
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Judge : - Yes . Could I have that document , please ? Do you have a copy for this
document , Mister Willis ?

Speaker 2: - Yes , and we are going through this .

Judge: - What do you mean by " It has already accounted for . " ?

Speaker 1: - Because we have only included the debts that you have reffered to and we
took out what has already been payed .

Judge : - You have to understand that I didn't reffer to every debt in the decision . What
I have said , effectively, was , and I have explained it further, was that in the
circumstances where the accounting demonstrated a debt , if there was no evidence to
the contrary , sufficient to persuade me on the balance of probability that that debt had
been either extinguished or didn't exist , then the debt shall stand .

Speaker 2: - Okay . That answers that .

Judge : - So that answers that ?

Speaker 2 : - That answers that .

Judge : - So that will then add in another 2.500 $ ?

Speaker 2 : - No , because it has already been payed . It has already been payed .

Judge : - Upon what date and was there money accrued to that , that is interest ?

Speaker 2: - The city bank interest -- we have taken the city bank interest in respective
orders, which is something I will cover in a second , because if you --

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Judge : - Where are the 2.000 owed $ on this document ?

Speaker 2: - You have the -- Okay . Where is ? Where is ?

Judge : - You gave me a document . You have first called the Jeff Kirk reconciliation .
That has been crossed out , and now just not called in , I think . But , where is the
taking into account of a payment made on behalf of the debters , to reduce endeavors
so as to better operate the accounts , properly ? Where is it , on this document ?

Speaker 2 : - What you are missing on that document are the figures that Mister Willis
is reffering to , because that document extinguishes those figures . So , I'm just looking
for the amended statement of claim , which is -- I've got it here . 47 talks about the
197.25 , new breed and 120 taxation office .

Judge : - But what about it ?

Speaker 2 : - When you total it , it totals to 3.217.25 .

Judge : - Yes .

Speaker 2 : - And the amount that we have excluded from our calculation , based on
the consolidated table , what they were reffering to, is number 7.816 and a total to
2.250 . So we have balanced that and took the difference of 30 dollars and we have left
it in our account , as a credit for our account , because we have already payed . It
doesn't need to go on the spreadsheet. It doesn't need to be in the spreadsheet. And I
went through this with -

Mister Willis : - [Unintelligible 00:04:00]

Judge : - Mister Willis, what's being said is that , things, as far as you say that there is
an amount thats

Mister Willis : - Oh , yes.

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Judge : - It was outstanding , but it has been payed .

Mister Willis : - The principle payments -- I understand what Mister Mackacines has
said . The issue is that the accrued interest hasn't been -- which was associated with
those original ammounts -- Mister Mackacine has addressed the principle and said --

Judge : - All right . And your claims aren't even , efectively, for the interest.

Mister Willis : - Well, what I am saying is that the interest hasn't been taken into
account in this running sheet , Mister Mackacines . It's not the biggest point , but it
simply -- it means that it's difficult to have confidence that this running sheet that Mister
Mackacine has superiored .

Judge : - Oh , yeah. So , you're saying that the interest hasn't been accomodated.

Mister Willis : - And it just means that it's not possible to take it face value or with
confidence -- the outcome that is positive in the running sheet.

Speaker 2 : - Actually , your honor , on that, alone , we have been very generous .
We've -

Judge : - Don't worry about whetever you've been generous . Did you take into account
the interest that accrued , from time to time , in relation to each of the oustanding
ammounts , as it proceeded ?

Speaker 2 : - We have taken interestmonth by month .

Judge : - No , no . From day to day .

Speaker 2 : - Actually , when we did a completion with Mister Willis , it walked out that
we have used a higher interest proportion than Mister Willis.

Judge : - Mister Willis didn't do it on a proportion . Mister Willis says that it


demonstrates a proportion , but it's actually accounted for on a day to day basis -- on
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the basis of an actual attendance to a particular payment , in a particular time and the
reduction that demonstrated and the interest rate that is applied and then you can
determine it to be , effectively , a proportion , because you look at it and [Unintelligible
00:07:13 ] when you consider it proportionally , but , in fact , it's not done a proportional
basis . It's done on an actual event basis . The time that something has been
outstanding , the amount, multiplied by rate .

Speaker 2 : - Yes . Because , what happened , your honor is that when we did the
comparison with Mister Willis , we realized that our figures were higher . Our
proportionate calculation of interest were higher than Mister Willis' . And , even if , after
taking this -- so , if you look at -- if you you ask me the question " What is the difference
between our accounting and Mister Willis's ? " . The one for the planking -

Judge : -Well , the first difference is that you;ve added in payments that you have
added in payments that you shouldn't have , because I have ruled against you .

Speaker 2: - I have already discussed that with Mister Willis.

Judge : - The next thing is that , in relation to other matters , you said that you didn't
apply interest , at all .
Speaker 2 : - No . Again , that comment is not correct , because -

Judge : - Well then , why isn't there interest applied to whatever the outstanding
balances are in relation to the national australian bank from the 21th of June , 2006 , to
the 28th of May , 2007.

Speaker 2 : - Because , this is what -- I will explain because this is what happened.
When I have showed Mister Willis this document -

Judge : - Don' t worry about what you've showed Mister Willis . Im asking you this
question : there was an amount outstanding on the National Australian Bank as at the
21th of June , 2006 -

Speaker 2 : - Yes , and it has been accounted for.

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Judge : - Why has there not been interest identified as running against that amount ?

Speaker 2: - Okay . Because , when you use the word -- we didn't conclude and
explain why . Because , on the 25th of the eight , 2008 , the statement that was missing
indicated that the closing balance for the national australian bank was 00 , so Mister
Willis explained to me . He said that the interest between 2006 , after this point , is
about 300 $ and something and I've said that's fine . But it was supposed to be adjusted
, to be put . And I've accepted , I've agreed to what he had proposed to us . And he said
that the 1000 has accounted for the amount owed , plus interest . It's cool.

Judge : - What fun fairs.

Speaker 2 : - If you reffer to my running balance -