Curtain & Curtain

In the matter of *Curtain & Curtain*, Berman J of the Family Court of Australia considered a dispute between a husband and wife concerning property settlement. The wife sought orders for property settlement, which were opposed by the husband. The case involved farming properties, with each party seeking to retain specific assets, including these farming properties. A settlement agreement had been reached between the parties.

The court was required to determine the appropriate division of the parties' property interests. In doing so, it had to consider the contributions made by each party to the marriage and their respective assets, as well as the factors outlined in section 75(2) of the *Family Law Act 1975* (Cth). These factors relate to matters such as the age and health of the parties, their earning capacity, and the responsibilities of caring for children.

Berman J's reasoning led to an order that the wife receive 45 per cent of the parties' property. This was to be achieved through a series of specific transfers and payments. The husband was ordered to pay a settlement sum of $55,634 to the wife. Contemporaneously, the wife was to transfer her interest in the C Town property, resign as director and transfer her shares in D Pty Ltd, and relinquish her trustee appointments in several family trusts, transferring her interests in those trust assets to the husband. The husband was to transfer his interest in the Suburb G property to the wife, and indemnify the wife against liabilities of D Pty Ltd and the family trusts. The wife was to retain her interest in the H and I Family Trusts, and the partnership between the parties, MR & MS Curtain, was to be dissolved with assets transferred to the husband. The husband was to retain his interest in E Consulting Pty Ltd and indemnify the wife against liabilities of MR & MS Curtain and E Consulting. Further orders addressed the parties' superannuation, personal property, and liabilities to the husband's mother. In the event of default by the husband in paying the settlement sum or discharging the mortgage on the Suburb G property, specific provisions were made for the sale of other properties to satisfy these obligations.