Alvey & Alvey

In the matter of *Alvey & Alvey*, Strickland J of the Family Court of Australia was required to make orders concerning the valuation of a business and the filing of updated evidence in ongoing family law proceedings. The dispute involved the division of property, and a previous adjournment had been granted to facilitate the winding up of a company, N Pty Ltd. However, the company had not been wound up, rendering previous valuations outdated.

The court was tasked with determining how to obtain current and relevant valuations of N Pty Ltd and what updated evidence was necessary from the parties to proceed with the property settlement. This included considering the need for fresh expert valuations and the nature of the affidavits to be filed by both the husband and the wife, particularly concerning changes in the business and their respective financial circumstances.

Strickland J ordered the appointment of a single expert, Mr H Accountant, to value N Pty Ltd, with a joint letter of instruction to be provided by the parties' solicitors. The court also directed the filing and service of Mr H's valuation report by a specified date. Furthermore, both the husband and wife were ordered to file updated affidavits addressing changes in the business, their current financial positions, and the issue of add-backs related to the proceeds of sale of a property at M. The husband was also permitted to make an application for a valuation of the business as at 1995, with the wife to respond to this application.

The court further ordered that the application for the 1995 valuation be heard on 7 November 2008, and the trial was adjourned to 17 November 2008 for a continuation hearing. The wife was also directed to file a document setting out her final orders sought and a list of proposed witnesses.