Ledarn and Ledarn

The Family Court of Australia heard a dispute between Ms Ledarn (the wife) and Mr Ledarn (the husband) concerning the retention of their jointly owned business, the Ledarn Group. In addition to determining who should retain the business, the court was required to consider how the parties' various property interests should be divided. The wife also sought an injunction to prevent the husband from competing with her should she retain the business.

The court was tasked with determining whether the wife should retain the business, and if so, what adjustments to the property division were just and equitable. A further issue was whether an injunction should be granted to restrain the husband from competing with the business. The court also considered the impact of the husband's past bankruptcy and his subsequent health issues on his role and control within the business structures, as well as the wife's management of the business during these periods.

In its reasoning, the court found that the wife should retain the business, acknowledging her dominant legal control over the major corporate entities. The court declined to grant the injunction sought by the wife, finding it not proper on the balance of convenience and other considerations. The court noted that the husband's bankruptcy, while significant, did not preclude an alteration of legal interests if it was just and equitable to do so. The court also considered the financial performance of the business, attributing a significant downturn in one year to the global financial crisis rather than solely to the wife's management. The court ultimately ordered that the assets be divided with the husband receiving 57.4% and the wife 42.6%.