Bulleen and Bulleen (No. 3)

In the matter of Bulleen and Bulleen (No. 3), Justice Cronin of the Family Court of Australia considered orders relating to the division of property and the distribution of assets between the husband and wife. The proceedings involved the division of various assets including artworks, real estate, and interests in companies and trusts.

The court was required to determine the specific terms for the division of a collection of artworks, including the process for selection and the consequences of failing to make selections within stipulated timelines. Further issues included the joinder of B Holdings Pty Ltd as a party to the proceedings, the distribution of funds from B Holdings to satisfy existing orders, and the final allocation of various properties, company directorships, shareholdings, and beneficial interests in trusts between the husband and wife. The court also addressed the wife's resignation from directorships and other roles within companies and trusts.

Justice Cronin applied principles of property division and the court's power to make orders to give effect to such divisions. The court detailed a specific alternating selection process for the artworks, with provisions for default if a party failed to make their selection. Orders were made for the joinder of B Holdings and for the husband and wife to take necessary steps to distribute funds from B Holdings. The court then clearly delineated which party would retain specific properties, including holiday homes, residential properties, and a farm, and specified the transfer of interests in a suite. Furthermore, the court ordered that the husband would retain the interests in K Nominees Pty Ltd, B Holdings Pty Ltd, and the Bulleen Investment Trust, as well as specific real estate properties. The wife was ordered to take steps to resign from directorships and transfer her shareholdings and entitlements in these entities to the husband.