Astor & Astor

The case of *Astor & Astor* concerned a dispute between a husband and wife regarding the living arrangements for their children and the division of their property. The matter came before O’Reilly J in the Family Court of Australia.

The court was required to determine the best interests of the children in relation to their living arrangements, considering the statutory factors under the *Family Law Act 1975*. Additionally, the court had to adjudicate on the division of the parties' property, which involved complex issues relating to companies, directors' loan accounts, intercompany debt, alleged undisclosed income, and significant liabilities.

In relation to the children, the court noted the parents’ agreement for equal shared parental responsibility and the children's close attachment to both parents, as well as the proximity of their residences. Applying the statutory factors, the court ordered that the children live with each parent on an alternate week basis. For property division, the court considered the valuation of various assets, including shares in companies, artwork, and superannuation, as well as liabilities such as mortgages and debts owed to the ATO. The court disallowed claimed add-backs and did not prove allegations of undisclosed income. After considering all factors, the court ordered a division of the net property pool, with the husband to receive 60% and the wife 40%. The orders detailed the specific assets and liabilities to be allocated to each party and outlined the process for the transfer of the former matrimonial home and the subsequent financial adjustments required to achieve the determined property division.