Corbon and Klousner

In the matter of Corbon and Klousner, Thornton J of the Family Court of Australia made orders concerning the property settlement between the parties. The dispute involved the division of various assets, including real property, a family trust, company shares, and superannuation entitlements, as well as the discharge of associated liabilities.

The court was required to determine the entitlements of each party to the matrimonial assets and liabilities. This included deciding the sole ownership of the Suburb C property, the division of proceeds from the Corbon Family Trust shares, the allocation of liabilities related to the Suburb N property, and the distribution of interests in the Corbon Family Trust and D Pty Ltd. Furthermore, the court addressed the division of a specific superannuation interest held by the Husband in the E Super Account.

Thornton J's reasoning, as reflected in the orders, involved a comprehensive division of the parties' financial affairs. The Wife was declared solely entitled to the Suburb C property, with an obligation to indemnify the Husband against its associated debts and to pay him a sum of $84,880 within 90 days, failing which the property would be sold. The Husband retained liability for a portion of the mortgage on the Suburb N property, with the Wife to be indemnified. The Wife relinquished her interest in the Corbon Family Trust and D Pty Ltd in favour of the Husband, who was to indemnify her against any liabilities arising from her prior interest. The parties were to retain property in their possession, with specific orders for an equal division of the Corbon Family Trust shares and a payment split from the Husband's superannuation interest. The Wife's application for spousal maintenance was dismissed.