ELDER & ELDER

This matter concerned property settlement orders made by Judicial Registrar Loughnan between a husband and wife. The dispute involved the division of various assets, including real estate, a motor vehicle, and interests in a company and a trust. The orders detailed the transfer of property and payment of a sum of money between the parties, with specific provisions for the sale of certain properties in the event of default.

The court was required to determine the terms of the property settlement, including the transfer of specific properties, the payment of a lump sum, and the division of other assets. A significant issue was the mechanism for the sale of the "M property" and potentially the "E property" in the event of the husband's default in complying with the payment and refinancing orders. The court also had to address the distribution of proceeds from any such sale and the declaration of sole ownership of various other assets and interests.

The Judicial Registrar applied principles of property settlement under the *Family Law Act 1975* (Cth) to achieve a division of the parties' assets. The orders reflect a comprehensive approach to asset distribution, including the transfer of the "C property" to the wife and the "E" and "M properties" to the husband, subject to the husband's payment of $380,600 to the wife. Crucially, detailed provisions were made for the sale of the "M property" by private treaty or public auction if the husband failed to comply with his payment and refinancing obligations, with a clear priority for the distribution of sale proceeds. The orders also declared the husband and wife as the sole beneficial owners of specific assets and interests, and stipulated that each party would retain their respective superannuation interests.