Albany and Albany

The parties to this proceeding were the Wife and the First Respondent, the Estate of the late Mr Albany. The dispute concerned the division of property and assets following the death of Mr Albany. The matter came before Johns J.

The court was required to determine the appropriate orders for the division of various assets, including real property, a business licence, company funds, a business and its stock, tax liabilities, shares in a public company, and motor vehicles. The court also needed to address the entitlement of each party to other property in their possession or control, the division of joint bank accounts, the ownership of insurance policies, and the severance of any joint tenancies. Furthermore, the court was to consider the finality of the financial relationship between the parties and the appointment of a new Appointor to the Albany Family Trust and a director of Albany Nominees Pty Ltd.

Johns J made orders for the transfer of specific assets from the Estate to the Wife, including the Suburb C Property and its contents, a business licence, half of the funds in a D Pty Ltd bank account, the business operated by the late husband under D Pty Ltd and its stock, any GST and income tax owing for the business up to a specified date, shares in CabCharge Australia Limited, and two motor vehicles. The court also ordered that each party was solely entitled to other property in their possession or control, that joint bank accounts be divided equally, that insurance policies remain with their owners, and that each party indemnify the other against liabilities encumbering property transferred to them. Crucially, any joint tenancy was expressly severed. The court noted its intention for these orders to finalise the financial relationship between the parties and avoid further proceedings. The Wife also agreed to facilitate the appointment of Ms F as an Appointor of the Albany Family Trust and a director of Albany Nominees Pty Ltd.