CAMERON & BROOK

In the matter of *Cameron & Brook*, Hogan J considered applications concerning interim property settlement and spousal maintenance. The wife's application for interim spousal maintenance was dismissed. The court also made orders for the sale of a property held by a family trust, of which the wife was director, and a motor vessel owned by the husband, to facilitate the provision of funds to both parties.

The primary legal issues before the court were whether interim spousal maintenance should be ordered and how the parties' assets, specifically a property and a motor vessel, should be dealt with on an interim basis to provide funds for property settlement. The court was required to determine the terms and conditions under which these assets should be sold and how the proceeds of sale should be distributed.

Hogan J reasoned that the wife's application for interim spousal maintenance should be dismissed. The court ordered the sale of the property, requiring the wife, as director of the trustee company, to take all necessary steps to achieve a sale at an agreed price or, failing agreement, at $3,250,000.00. If a contract was not secured within 30 days, the property was to be listed for sale by private treaty at an agreed price or $3,250,000.00, with offers of at least 95% of the list price to be accepted. Similar provisions were made for the sale of the motor vessel, with the husband responsible for its sale at an agreed price or $1,600,000.00, accepting offers of at least 90% of the list price. The proceeds of sale from both assets were to be applied in a specific order, including the release of mortgages, payment of sale expenses, legal costs, capital gains tax, reimbursement of expenses, partial property settlements to the wife ($102,571.33 and $300,000.00), and a partial property settlement to the husband ($300,000.00), with any remaining balance from the property sale to be paid into an interest-bearing account for the trust. The court also directed the parties to nominate valuers for disputed assets.