CANTWELL & CANTWELL

In the matter of *Cantwell & Cantwell*, Berman J of the Family Court of Australia considered a property settlement dispute between a husband and wife. The asset pool comprised a complex structure of assets held within various trusts. The parties had reached an agreement for a 50 per cent division of their assets, but disagreed on the retention of the main income-producing asset, with the wife seeking to retain it and the husband opposing this.

The court was required to determine how the parties' respective interests in the various trust assets should be divided, particularly concerning the main income-producing asset. Additionally, the court needed to address the issue of legal fees, considering that the husband had reportedly paid some of his legal costs from joint resources while the wife had outstanding legal fees.

Berman J reasoned that a 50 per cent division of assets was appropriate, taking into account the length of the relationship and the contributions of each party. To resolve the dispute over the income-producing asset, the court ordered that each party would retain one income-producing asset of similar value. Regarding legal fees, the court made a notational add-back order for each party's legal fees, acknowledging the husband's use of joint resources and the wife's outstanding fees. The court then made detailed orders for the transfer and vesting of various trust interests, properties, and company directorships between the parties, along with specific indemnities for debts and liabilities.