Regan & Regan

In the matter of BRC 7426 of 2021, Ms Regan (the applicant) sought urgent injunctive relief against Mr Regan (the first respondent) and B Pty Ltd ACN ... as Trustee for the C Trust (the third respondent). The dispute concerned settlement funds derived from two properties, with settlement scheduled for the following day. The wife alleged that the husband had unilaterally made arrangements to pay settlement funds towards debts not yet due and payable.

The court was required to determine whether to grant an injunction restraining the husband from dealing with the settlement funds, and if so, on what terms. Specifically, the court needed to consider the urgency of the situation and the husband's actions in proposing to discharge certain debts with the settlement proceeds.

Baumann J applied principles of family law concerning property settlement and the court's power to make interim orders to preserve assets. The court found that there was a need to preserve the settlement funds to ensure a partial property settlement could be achieved. Consequently, the court ordered that until 4.00pm on 19 August 2021, the first respondent, in his personal capacity or as a director of H Pty Ltd ACN ..., be restrained from dealing with the sum of $3,058,377.03 payable upon the refinance or discharge of the first mortgage.

The court further ordered that the restrained funds be paid as follows: $2,958,377.03 into the trust account of Hopgood Ganim Lawyers, and $100,000.00 to the trust account of Hirst & Co Family Lawyers by way of partial property settlement. The parties' costs were reserved.