MAWSON & HARKNESS

In this matter before Loughnan J, the wife sought various orders relating to disclosure and property division, while the husband sought the interim transfer of a property to him. The dispute centred on the adequacy of financial disclosure provided by the husband and the husband's request for interim property orders.

The court was required to determine two primary legal issues. Firstly, whether further disclosure from the husband was necessary to ensure the wife had sufficient information to properly conduct the proceedings, particularly concerning the financial activities of the Harkness Family Trust. Secondly, the court had to consider whether to exercise its power under section 79 of the *Family Law Act 1975* (Cth) to make an interim order for the transfer of a property to the husband, and if so, whether such an order could be adequately undone if it prejudiced the final property settlement.

Regarding the disclosure, the court found that the husband needed to provide more detailed information about margin loans, debt facilities, and the reconciliation of asset sales within the Harkness Family Trust, along with supporting documentation. The court also made orders for ongoing disclosure of bank statements, share acquisitions and sales, and trust distributions. On the issue of interim property orders, the court adopted a conservative approach, noting that if a property were transferred and encumbered, it might not be possible to reverse the transaction. Consequently, the court was not satisfied that it could make an order transferring the property on an interim basis.

The court made orders for extensive disclosure from the husband, including specific details regarding margin loans, debt facilities, and the reconciliation of asset sales within the Harkness Family Trust, along with supporting documentation. Further orders mandated ongoing disclosure of bank statements, share transactions, and trust distributions. The husband's application for an interim property transfer was dismissed. Costs were reserved.