Allan and Allan and Ors

The proceedings involved the parties Allan and Allan and Ors, with Watts J presiding. The dispute concerned the management and distribution of funds held in a controlled account, with specific orders being made regarding the discharge of previous orders, the payment of a substantial sum into a new controlled account, and the liberty of receivers to deal with remaining funds.

The court was required to determine the appropriate disposition of funds held in a controlled account, particularly the release of $600,000 to a new controlled account pending further order, and to clarify the powers of receivers over the remaining balance. Additionally, the court considered the discharge of prior orders and the liberty of the receivers to sell certain assets and retain the proceeds.

Watts J ordered the discharge of specific previous orders, including Order 3 made on 17 June 2010. A key directive was for the Receivers to pay $600,000 from the existing controlled account into a new controlled account, to be held jointly by the wife and the current trustee for the AM Trust, awaiting further court directions. The Receivers were granted liberty to access and deal with the remaining funds in the original account in accordance with their duties. Furthermore, the Receivers were relieved from an undertaking given on 4 November 2010 and permitted to sell specified items, retaining the proceeds. The matter was relisted for further consideration, with directions for parties seeking orders regarding the $600,000 fund to submit minutes and explanations.