Phillips and Phillips (No 3)

In *Phillips and Phillips (No 3)*, Barry J of the Family Court of Australia considered an application to review and vary previous orders made by a Registrar concerning financial disclosure in divorce proceedings. The dispute centred on the extent of financial information the husband was required to provide regarding his shareholdings in VW Company and EC Limited.

The primary legal issues before the court were whether the Registrar’s order requiring the husband to file and serve a financial statement was appropriate, and what specific particulars regarding his dealings with VW Company shares and subsequent EC Limited shares were necessary for the proper determination of the financial proceedings. The court also had to consider the appropriate orders for costs.

Barry J reasoned that the previous order for a general financial statement was too broad and potentially burdensome. Instead, the court ordered the deletion of that requirement. However, to ensure adequate disclosure for the resolution of the financial matters, the court mandated that the husband file a detailed affidavit. This affidavit was to particularise his transactions involving VW Company shares from 30 January 2002, including any sales or acquisitions, the number and value of EC Limited shares received in a merger, the valuation of the VW shares for the merger, and dividends received from both VW and EC Limited shares. Costs were reserved pending further order.