PALLAS & PALLAS

In the matter of PALLAS & PALLAS, Watts J made orders concerning interim injunctions and property division. The dispute involved the wife's alleged interference with the husband's role in companies controlling his business and the division of funds to be raised through an increased secured debt facility. The court also addressed the process for obtaining adversarial expert evidence.

The court was required to determine the necessity and terms of an interim injunction restraining the wife from interfering with the husband's position and conduct of the business. Additionally, the court needed to make orders regarding the division of proceeds from an increased secured debt facility, specifying the proportions to be allocated to each party. A further issue was the procedure for allowing parties to rely on adversarial expert evidence, particularly in relation to the valuation of company interests and property.

Watts J granted an interim injunction restraining the wife from removing the husband as director of LM Pty Limited, contacting staff or customers of LM Pty Limited without the husband's consent, and generally interfering with the husband's conduct of the business. The court also ordered the parties to increase their secured debt with the National Australia Bank to the maximum available amount, with the proceeds to be divided 62 per cent to the wife and 38 per cent to the husband, after retaining $20,000 for interest repayments. The court further directed that specific steps be taken regarding single expert reports on company valuations, remuneration, and property valuations, and outlined a process for a conferral with a single expert accountant, including provisions for the attendance of the wife's forensic accountant and the potential for relisting the proceedings for applications to adduce adversarial expert evidence.