Pelton and Banbury and Anor

This matter concerned interim financial arrangements and directions for the sale of a business between the parties, Pelton and Banbury, and a second respondent, Mr. Hellis. The dispute involved the management and sale of a business operated by C Pty Ltd, the distribution of sale proceeds, and the handling of various financial accounts and tax obligations.

The court was required to determine the terms of interim financial arrangements, including the transfer of funds and the direct debiting of rental payments. It also needed to establish a process for the sale of the business, including the appointment of a business broker, the method of sale, and the distribution of proceeds. Further issues included the restraint on the use of a business database, the application of funds to discharge loans, and the finalisation of tax returns for the Banbury/Pelton Group. The court also addressed procedural matters, including the authorisation of a Registrar to sign documents on behalf of a defaulting party and the filing of evidence and submissions for an upcoming trial.

Justice Macmillan ordered the immediate transfer of $100,000 into a joint account and stipulated that future rental payments be debited from an account in the husband's sole name, with reimbursement to the joint account if necessary. The court directed the parties to appoint a business broker within seven days to market C Pty Ltd for sale by expressions of interest, unless otherwise advised. The wife was given conduct of the sale, with provisions for the husband to be kept informed and to have the liberty to contact the broker. The contract of sale was to include intellectual property and databases, with no non-compete clauses required for either party. Proceeds from the sale were to be applied first to sale costs and then deposited into a joint trust account. A restraint was imposed on the parties and Mr. Hellis from retaining or utilising the business database. The court also made orders regarding the application of funds to discharge Division 7A loans and the finalisation of tax matters for the Banbury/Pelton Group.

The court further ordered that if a party failed to sign necessary documents within 14 days of a request, a Registrar was authorised to sign on their behalf pursuant to section 106A of the Family Law Act. All questions of costs were reserved. The wife's amended application, save for any applications for costs, was dismissed. The court adjourned all extant applications for final orders for a four-day hearing commencing on 28 January 2020, and set strict timelines for the filing of evidence, financial statements, and submissions.