KANE & KANE

In the matter of KANE & KANE, Rees J considered an application for interlocutory injunctive relief. The proceedings involved a dispute between a husband and wife concerning their respective interests in a company, K Pty Ltd, and a fund, R Investments. The wife sought orders to restrain the husband from dealing with certain assets and to ensure the preservation of the parties' interests in these entities pending further determination of the proceedings.

The court was required to determine whether to grant interlocutory injunctions restraining the husband from alienating or further encumbering shares in K Pty Ltd and R Investments, altering the shareholding or interests in these entities, or removing or appointing directors or officeholders. Additionally, the court considered whether to restrain the husband from dealing with entitlements arising from a Deed of Novation and a Share Sale and Purchase Agreement, and whether to order the husband to comply with previous orders and facilitate valuations of the parties' interests in various entities. The court also had to decide on the husband's ability to draw funds from the R Investments and whether to restrain him from dealing with the assets, income, or undertakings of K Pty Ltd and R Investments, or exercising certain powers in relation to them.

The orders made by consent indicate that the court granted significant injunctive relief. The husband was restrained from various actions concerning the shares and interests in K Pty Ltd and R Investments, including alienation, further encumbrance, and alteration of shareholdings. He was also restrained from appointing or removing directors or officeholders, and from dealing with entitlements under specific agreements other than into a controlled monies account. The husband was ordered to comply with prior orders and to provide necessary documents for valuations. The court also permitted the husband to draw a limited amount weekly from the fund and restrained him from dealing with the assets or exercising certain powers in relation to the company and the fund. Costs were reserved.