Borkai and Borkai

In the matter of *Borkai and Borkai*, Judicial Registrar Johnston made orders concerning the division of property and spousal maintenance between a husband and wife. The dispute centred on how to distribute various assets, including the former matrimonial home, a unit trust, a company, and superannuation, as well as addressing debts owed to parents and tax liabilities.

The court was required to determine the specific distribution of the proceeds from the sale of the former matrimonial home and the M Unit Trust. Further issues included the transfer of shares and interests in a company and business from the wife to the husband, the husband's indemnification of the wife for company liabilities, and the allocation of responsibility for debts owed to the husband's parents. The court also had to consider the wife's application for spousal maintenance and establish a commencement date for the property orders.

Judicial Registrar Johnston ordered that the former matrimonial home be sold, with the proceeds first covering sale costs, then a mortgage, followed by repayment of $90,000 to the wife's parents, and the balance to the wife. The M Unit Trust was directed to pay $78,000 to the Australian Taxation Office, with the remainder to be distributed to achieve a 76 percent share of available property and superannuation for the wife, and the balance to the husband. Upon the husband's compliance, the wife was to resign as director and secretary of C Pty Limited, transferring her shares and interests in S Business to the husband, who would indemnify her for all company liabilities. The husband was to solely bear responsibility for debts to his parents. The wife's application for spousal maintenance was dismissed. The orders were to commence operation on 19 September 2008, with leave granted for parties to re-list for implementation or to make submissions on the form of the order until 18 September 2008.