CAO & HONG

The parties in this matter were the Applicant and the Respondent, with the proceedings heard by Baumann J in the Family Court of Australia. The dispute concerned the valuation of Taiwanese entities and related financial disclosure, as well as applications concerning the Applicant's status as a Statutory Supervisor and the wife's Application in a Case.

The court was required to determine various interlocutory matters, including the provision of financial statements for specific Taiwanese entities by each party to a nominated accountant for the purpose of cost estimates and engagement for valuation. Further issues included the form of joint instructions to single experts, the discharge of previous orders, variation of an existing order regarding a monetary amount, and the number of subpoenae each party could issue. The court also considered the Applicant's application to be restored as a Statutory Supervisor and the wife's Application in a Case.

Baumann J ordered the Respondent to provide financial statements for a list of Taiwanese entities to P Accountants and the Applicant's solicitors, and in turn, the Applicant was ordered to provide financial statements for specified Taiwanese entities to P Accountants and the Respondent's solicitors. The parties were directed to provide updated joint instructions to single experts by a specified date, or individual instructions if agreement could not be reached. Previous orders were discharged and one order was varied to substitute $500,000 for $1,500,000. Leave was granted for each party to issue up to eight subpoenae without further leave, and disclosure was to be completed by a specified date. The Applicant's application to be restored as a Statutory Supervisor was dismissed, and the wife's Application in a Case was otherwise dismissed, with costs reserved for both parties. The proceedings were adjourned for further mention and directions.