BRITT & BRITT

The matter of *Britt & Britt* came before Judge Terry of the Federal Circuit Court of Australia. The dispute concerned the division of property and the dissolution of a partnership between the parties, Mr. Britt and Ms. Britt.

The court was required to determine the terms of the property settlement, including the financial entitlements of each party and the disposition of jointly owned real estate. Further issues included the dissolution of the "Mr Britt and Ms Britt" partnership, the distribution of partnership assets and liabilities, and the indemnification of each party against future claims relating to liabilities held in the other's name or encumbering property awarded to the other.

The court ordered the husband to pay the wife a sum of $597,875.74 within 60 days, upon which the wife was to transfer her interest in two properties to the husband. In the event of the husband's non-compliance with this payment, the properties were to be listed for sale under specific terms regarding agent selection, pricing, and sale method, with the proceeds to be distributed according to a defined formula. The partnership was dissolved, with the wife transferring her interest in partnership assets to the husband, and the husband was to indemnify the wife against all partnership debts. Both parties were to indemnify each other regarding liabilities in their respective names or encumbering property awarded to them, and each was declared the owner of assets in their possession. The Registrar of the Federal Circuit Court was appointed to execute documents if either party failed to do so.