BEST & VIDMA

In the matter of *BEST & VIDMA*, Foster J of the Family Court of Australia considered an application concerning the net proceeds of sale of a property. The dispute involved a husband and wife, and the court was asked to make interim orders regarding the distribution of funds derived from the sale of their property located in Suburb B.

The primary legal issue before the court was how to characterise and distribute the net proceeds of sale of the property pending a final determination of the parties' financial matters. Specifically, the court needed to decide whether to permit a partial distribution of the proceeds and how to manage the remaining funds.

Foster J ordered that from the net proceeds of sale of the property at Suburb B, the sum of $100,000 was to be paid to each of the husband and wife, or as they directed in writing. The remaining net proceeds were to be held in an interest-bearing controlled monies account in trust for the parties jointly. The court further reserved the characterisation of these payments for the final trial and also reserved the costs of the present application.