Azari and Azari

In the matter of *Azari and Azari*, Watts J of the Family Court of Australia was required to determine the financial settlement between the parties following their separation. The dispute concerned the division of various properties, a shareholding in a company, and associated liabilities.

The court was tasked with making orders pursuant to section 79 of the *Family Law Act 1975* (Cth) to finalise the property settlement. Key issues included the transfer of ownership of several properties, the husband's resignation as a director and transfer of his shareholding in M Proprietary Limited, and the allocation of responsibility for potential liabilities, including tax obligations and company debts.

Watts J ordered the discharge of all interim financial orders and made final property settlement orders. These orders involved the transfer of specific properties to the wife, and other properties to the husband. The husband was also required to resign as a director of M Proprietary Limited and transfer his shareholding to the wife, who in turn was to indemnify the husband against all liabilities to creditors of the company. The court also addressed the division of other assets, the distribution of funds held in a joint account, and a specific payment to be made by the husband to the wife. Further orders provided for the husband to indemnify the wife for any tax payable on shares sold and to provide a letter confirming no outstanding tax liability, with the property at W property charged with any such liability until this letter was provided. The Registrar was appointed to execute documents if either party failed to do so.