Carew and Carew

In the matter of *Carew and Carew*, Cohen J of the Family Court of Australia granted leave to list an application on short notice and transferred the proceedings to another judge in the Sydney Registry for mention on the earliest available date. The court also made orders concerning the husband's financial affairs, specifically in relation to funds arising from a share purchase agreement and escrow agreement dated 7 March 2008 concerning the sale of shares in N Corporation Pty Limited.

The court was required to determine how funds from the sale of shares should be managed and protected pending further orders, and to prevent the dissipation of those funds or other Australian-based assets. The court also considered the husband's immediate financial needs.

Cohen J ordered that the husband must irrevocably authorise Minter Ellison Lawyers, E Holdings Pty Ltd, Citibank, NA, and any other relevant parties to direct all payments arising from the share sale to be paid into the trust account of Watts McCray Lawyers. These funds were then to be invested in an interest-bearing bank account within Australia, nominated by the husband within seven days, or otherwise held in a controlled moneys account by the husband's solicitors. The husband was also restrained by injunction from transferring any moneys held in Australian accounts, including those from Commsec Portfolio accounts and publicly listed shares, to any account outside the Commonwealth of Australia. The husband was permitted to access up to $1,000 per day for maintenance until the matter was next heard. Cohen J also disqualified himself from further participation in the proceedings.