Aarons and Aarons

In the matter of Aarons and Aarons, heard by Judge Newbrun, the parties sought orders concerning the valuation of various assets and the preparation of tax returns. The dispute involved the division of property and financial matters, necessitating the court's intervention to establish a clear process for asset assessment and financial reporting.

The court was required to determine the appropriate method for valuing specific assets, including real property, business interests, and various vehicles and equipment. Additionally, the court needed to address the preparation and lodgement of outstanding tax returns for a business entity and the appointment of professionals to undertake these tasks. The court also considered the need for interim orders to preserve the status quo of the parties' assets pending final resolution.

Judge Newbrun ordered the appointment of single experts to prepare formal valuation reports for a property, several business entities, and a list of plant, equipment, and vehicles. The parties were directed to cooperate in instructing these experts, with their fees to be shared equally, except for the tax return preparation which was to be borne by the relevant business. The court also ordered the appointment of an accountant to prepare and lodge tax returns for Business 1, with a process for selecting the accountant. Furthermore, interim restraining orders were imposed on the disposal or encumbrance of specified assets, with an exception for the normal operation of Business 1, and the respondent was ordered to maintain certain assets.