Lao and Cxue

This matter concerned orders made by Johns J in proceedings between a husband and wife, Lao and Cxue. The dispute involved the division of property and business interests. The court was required to make orders concerning the sale of a property, the valuation of various companies and business interests, and the valuation of several real estate holdings.

The court was tasked with determining the terms for the sale of a property located at F Street, Suburb G, including the appointment of a selling agent and the distribution of sale proceeds. Further, the court needed to establish a process for obtaining sworn valuations of the husband's companies and business interests in Hong Kong and China, referred to as the "H Group of Companies," and specific real estate properties. The court also had to address the handling of interest payments from loan agreements between Company V and Company W.

Johns J made orders by consent of the parties. These orders stipulated that the wife was to make available all keys to the Suburb G property for collection by the husband's agent. The husband was directed to list the property for sale by public auction, with terms to be agreed or nominated by the selling agent, who was to be agreed within 14 days or appointed by the President of the Real Estate Institute of Victoria. Proceeds were to cover sale costs, with the balance held in trust by the husband's solicitors. The parties were also ordered to facilitate sworn valuations of the H Group of Companies and specified real estate, with single experts to be agreed or appointed by relevant professional bodies. The court also ordered that interest payments from loan agreements be paid into the solicitors' trust account and not disbursed except for legal costs. The parties noted their intention to convene a private mediation following the business valuation, and the husband asserted no interest in I Inc. The wife advised her parents had vacated the Suburb G property, and she asserted the loan agreements were shams. The court also granted leave for parties to uplift specific annexures from their affidavits and dispensed with a Conciliation Conference.