Cambridge and Cambridge

In the matter of *Cambridge and Cambridge*, Coleman J considered a dispute between a husband and wife concerning the division of their property. The wife sought orders for the transfer of certain assets and a significant monetary sum, along with provisions for payment, interest, and security.

The court was required to determine the appropriate division of property between the parties, including the allocation of specific assets and the quantum of any financial settlement. Further issues included the terms and conditions of any payment order, the accrual and calculation of interest, and the mechanism for adjusting the outstanding balance. The court also had to consider the creation and priority of any charge over the husband's assets to secure the wife's entitlements, as well as the husband's liability for partnership and company debts. Finally, the court addressed the confirmation of existing parenting orders and the matter of costs.

Coleman J ordered the husband to transfer his interest in a Commodore vehicle to the wife, and that the wife retain all property in her possession absolutely. The husband was ordered to pay the wife $478,000, payable in instalments over three years, with interest on the outstanding balance calculated at 1% above the Suncorp Metway credit facility rate. The outstanding balance was to be adjusted annually by the CPI. The wife's entitlement was secured by a charge over various properties, partnership interests, and company assets, ranking second in priority to the husband's secured indebtedness. The husband was also ordered to indemnify the wife against liabilities arising from W Partnership, W Pty Ltd, and the Cambridge Farming Trust, and the wife was to assign any entitlements she had against these entities to the husband. The parenting orders of Dubbo Local Court were confirmed, and costs were reserved.