The court docket has also listened to essential evidence in regards to the effectiveness of Woodlawn Cash in managing the fund, which dropped in value from about $43 million to about $thirty million.
He mentioned the only ability he had acted in was "introducing people today to probable chances in PNG".
"With volatility spiking it was difficult to argue the Australian market would not develop into embroiled in an intense selloff," Mr Threat said.
The organization officer answerable for getting the positions was McNamara, who explained to the court docket he experienced experienced unjustifiable assurance within the strength in the Australian financial system.
The revelations have emerged from a row around $forty three million of PNG authorities cash which was squirrelled away in a little region bank branch in Lismore in northern NSW.
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Two Sydney income professionals have demanded about $23 million in service fees for 2 many years work investing Papua New Guinea taxpayer cash, a few of which dropped in value by about $10 million.