Clarkson and Clarkson

In the matter of Clarkson and Clarkson, Young J was required to make orders concerning the division of assets and the conduct of proceedings between the parties. The dispute involved the sale and division of listed securities held by various trusts and companies, the characterisation of payments, the removal of an affidavit from the court file, the provision of documents and information, and the marketing and sale of business interests. The court also addressed the preparation and exchange of expert reports concerning business valuations.

The central legal issues before the court were how to effect the sale and equal division of specified assets, the proper characterisation of payments to be made, and the procedural steps necessary to facilitate the resolution of the dispute. This included determining the husband's obligations regarding the disclosure of documents and information, particularly concerning his dealings with P Company, and the wife's obligations to provide financial details of certain entities. Furthermore, the court needed to establish a framework for the valuation and potential sale of the "[C] Group" of entities, including the appointment and instruction of business brokers and accountants.

Young J made a series of orders aimed at achieving a practical and efficient resolution. These orders mandated the sale of listed securities and the equal division of proceeds, with the characterisation of payments to be determined by the Trial Judge. The court also ordered the removal of a specific affidavit from the court file and compelled the husband to provide outstanding documents and information to the wife and Mr S. The husband was granted liberty to market and sell his interest in the "[C] Group" of entities, subject to conditions ensuring the wife's informed participation and the joint instruction of business brokers. The court also directed the preparation of a business valuation report by P Company and a subsequent conference between P Company and Mr S to identify and clarify any disagreements regarding the valuation of the "[C] Group" entities, with the outcome to be documented in a joint or individual report. All extant interim applications were dismissed.