BONFILS & BABIN

In the matter of Bonfils & Babin, Judge B Smith of the Federal Circuit and Family Court of Australia considered a property settlement dispute between a de facto couple. The applicant wife sought a property adjustment from the respondent husband, whose net assets exceeded $4.5 million. The wife had minimal financial contributions and negative net equity, though she did contribute to homemaking during the short-term relationship. The husband opposed any adjustment or submitted for no more than 4%, while the wife sought 10% of his net assets.

The court was required to determine the appropriate, just, and equitable property adjustment, if any, to be made between the parties. This involved assessing the contributions of each party, both financial and non-financial, and considering the overall circumstances of the de facto relationship, including its short duration and the significant disparity in the parties' financial positions.

Judge B Smith reasoned that a 6% property adjustment was appropriate, just, and equitable. This decision likely took into account the wife's homemaking contributions and her significantly disadvantaged financial position relative to the husband, despite the short duration of the relationship and the husband's substantial financial contributions. The court ordered the respondent to pay the applicant $275,000 within 42 days. In default of this payment, the parties were to sell their jointly owned property, with detailed provisions for the sale process, including agent appointment, valuation, and distribution of proceeds. Further alternative orders were made concerning the respondent's superannuation interests in the event of non-compliance with the primary payment and property sale orders.