Parsin and Parsin

In the matter of *Parsin and Parsin*, the Family Court of Australia, presided over by Judicial Registrar Loughnan, considered an application by the Wife. The dispute concerned orders made on 21 February 2008, which the Wife sought to stay pending her further application listed for hearing on 8 May 2008. Specifically, the Wife sought to restrain the Husband from taking steps to voluntarily wind up two companies, A.C.N. […] Pty Limited (formerly known as Parsin Group Pty Limited) and [P International] Pty Limited, and from dealing with the assets of these companies.

The primary legal issues before the Court were whether to grant a stay of existing orders and whether to impose interim injunctive relief restraining the Husband from winding up the companies or dealing with their assets. The Court was required to consider the potential prejudice to the Wife and the integrity of the marital property proceedings if the companies were wound up or their assets dissipated before the final determination of the Wife's application.

Judicial Registrar Loughnan reasoned that it was appropriate to grant the orders sought by the Wife pending further order. The Court made orders staying the previous orders and restraining the Husband from causing the voluntary winding up of the specified companies. Furthermore, the Husband was restrained from selling, mortgaging, alienating, using, or otherwise dealing with the companies' assets, or inciting others to do so. These orders were made on the basis that the Husband could seek a hearing on the merits as soon as practicable, and specifically in relation to A.C.N. […] Pty Limited, on the condition that the company might not already be in administration.

The Court ordered that the Wife's costs be reserved. Leave was granted to the parties and any affected person to apply to the Court on 48 hours' notice. Sealed copies of the orders were to be served on the Husband, National Australia Bank, and any Administrator of A.C.N. […] Pty Limited.