Bloxham & Bloxham

In Bloxham & Bloxham, Foster J considered an application concerning the division of marital assets. The dispute involved the husband being ordered to withdraw a significant sum from a joint bank account and pay it to the wife's solicitors, to be held in a controlled money account.

The court was required to determine the terms upon which these funds should be released to the wife, specifically how the sum of $11,225,000.00 should be applied. This included the allocation for the purchase of a property, stamp duty, legal costs, and furnishing, as well as the disposition of any remaining balance. The court also had to consider whether the wife should be restrained from selling or encumbering the property purchased with these funds pending further orders.

Foster J reasoned that the wife should be permitted to use up to $10,000,000.00 for the purchase of a property, including associated costs and furnishing. The remaining balance of $1,225,000.00, along with any accrued interest, was to be held for the wife's benefit, with the discretion to apply it towards the property purchase. The court also imposed a restraint on the wife selling or encumbering the purchased property. The characterisation of the funds paid to the wife's solicitors and the costs of the application were reserved for final determination.