Rand and Rand and Ors

This case involved an application by the Wife in proceedings before Rowlands J. The dispute concerned the division of property and the resolution of financial entitlements between the Husband and Wife, involving numerous companies and trusts, including RE Pty Limited (in liquidation), S Pty Limited, GD Pty Limited, C Pty Limited, and the Rand Family Trust. The Wife sought orders to assign entitlements and causes of action to her, transfer trust assets and trustee roles, and account for profits from intellectual property.

The court was required to determine the extent of the Wife's entitlement to profits arising from specific intellectual property, the appropriate mechanism for transferring various company shares and trust entitlements, and the extent to which the Husband should be substituted for the Wife in relation to certain alleged indebtedness. Further issues included the validity of share allotments in S Pty Limited and the winding up of that company, as well as the imposition of restraints on various parties from commencing legal actions. The court also considered the application of specific provisions of the Family Law Act 1975 and the Corporations Act 2001.

Rowlands J made extensive orders to effect a division of property and resolve financial claims. These included orders for the assignment of debts and causes of action, the transfer of entitlements in the Rand Family Trust, and the Wife's entitlement to half of the profits from certain intellectual property, capped at a specified sum plus costs and interest. The court also set aside certain share allotments in S Pty Limited, ordered its winding up, and restrained directors from altering its shareholding or assets without notice. Crucially, the Husband was substituted for the Wife in respect of certain alleged indebtedness to RE Pty Limited (in liquidation) and other entities, and the Wife was to transfer her shareholding in RE Pty Limited (in liquidation) to the Husband upon his compliance with specific orders. Restraints were imposed on numerous parties from commencing claims against the Husband or Wife.