PILSON & PILSON

In this matter before Forrest J, the husband sought an interim order for $425,000 to purchase a home, proposing to raise these funds through the sale of shares. The wife opposed this, concerned that such a sale could prejudice her ability to receive funds at the final property settlement. The dispute also involved the husband's creation of a new trust without the wife's knowledge or consent, which lacked limitations on beneficiaries and was not disclosed to her.

The court was required to determine whether the husband should be restrained from dealing with matrimonial property without the wife's written consent, particularly in light of the undisclosed trust. It also needed to consider the husband's application for funds to purchase a home and the wife's opposition to the sale of shares to facilitate this.

Forrest J reasoned that while the husband should be permitted to acquire a home, safeguards were necessary to protect the wife's interests in the final property settlement. The court ordered that the husband, as director of certain corporate entities, could sell investments to accumulate $1,075,000 in cash across those entities, provided he disclosed all sales and proceeds to the wife within 48 hours. Upon reaching this cash threshold, the husband could withdraw up to $425,000 for the deposit, stamp duty, and costs of a home purchased in his sole name. Specific conditions were imposed regarding the minimum equity the husband must acquire in the property and the maximum purchase price. The court also declared that the undisclosed trust would be considered part of the "Pilson Group" for the purposes of existing orders and imposed an injunction restraining the husband from dealing with or distributing assets from various trusts and entities without the wife's prior written consent, save for the steps authorised by the new orders.