Jess & Jess

In the matter of *Jess & Jess*, Brown J considered an application to vary existing orders concerning financial restraints imposed on the husband. The dispute centred on the husband's ability to borrow funds and provide security for those borrowings, subject to specific conditions and limitations.

The court was required to determine whether to vary the existing restraint on the husband's borrowing capacity. This involved considering the purpose for which the husband sought to borrow funds, the total amount he wished to borrow, and the assets over which he proposed to provide security. The court also had to address the terms of any such borrowing, including the husband's obligations to repay and indemnify the wife.

Brown J varied the restraint to permit the husband to borrow up to $750,000 before 15 September 2009, with the ability to provide security over certain assets. Crucially, the borrowed funds were strictly to be applied towards specific obligations, including monthly payments to the wife, property expenses, expert valuer fees, legal costs, and living expenses. The husband was also ordered to pay the wife $100,000 by 27 February 2009, to be treated as part-property settlement. The court further mandated detailed reporting to the wife's solicitors regarding any sums borrowed and their application. Applications by both parties were otherwise dismissed, with final orders adjourned and costs reserved.