Price and Underwood and Ors

In the matter of *Price and Underwood and Ors*, Jordan J of the Supreme Court of New South Wales considered an application for interlocutory relief. The applicant, Ms Price, sought to restrain the respondents, Mr and Mrs Underwood (the Third and Fourth Respondents), and V Pty Ltd in its capacity as trustee of the V Superannuation Fund, from dealing with certain assets. The dispute concerned the potential dissipation of assets that might be available to satisfy a future judgment in favour of Ms Price.

The court was required to determine whether to grant interim orders restraining the respondents from diminishing the value of, dealing with, disposing of, or expending specific assets. These assets included a property on A Street, the assets and income of the A Investment Trust, the assets and income of the estate of the late Mr Underwood, and certain superannuation and insurance entitlements, with an exclusion for a specific sum of life insurance benefits. The court also considered an application by V Pty Ltd to be restrained from distributing money held on behalf of Mr Underwood.

By consent, the court made orders restraining V Pty Ltd from distributing money held on behalf of Mr Underwood. Furthermore, the Third and Fourth Respondents were restrained, until further order, from diminishing the value of, dealing with, disposing of, encumbering, or expending the A Street property, the assets and/or income of the A Investment Trust, the assets and/or income of the estate of the late Mr Underwood, and specified insurance benefits and superannuation entitlements. All other interim applications were dismissed. The court also made orders regarding costs and certified for counsel, including Senior Counsel, and directed that the matter be listed for further mention.