Falkner & Candle (No. 2)

In the matter of *Falkner & Candle (No. 2)*, Foster J of the Family Court of Australia considered an application for property adjustment between Ms Falkner (the applicant wife) and Mr Candle (the respondent husband). The dispute concerned the division of the parties' assets and liabilities.

The court was required to determine whether it was just and equitable to make property orders, to assess the respective contributions of the parties to their property pool, and to consider whether any adjustment was warranted under section 75(2) of the *Family Law Act 1975* (Cth) in favour of the husband.

Foster J found that an adjustment in favour of the wife was appropriate based on her contributions. However, the court also determined that an adjustment in favour of the husband was necessary by reason of considerations under section 75(2) of the *Family Law Act 1975* (Cth). The court ultimately made orders reflecting these determinations.

The orders directed the wife to pay a sum of $604,168 to the husband within three months, subject to any outstanding costs orders. The orders also stipulated the transfer of shareholdings in C Pty Ltd and K Pty Ltd between the parties, with reciprocal indemnities for loans and liabilities to the Australian Taxation Office. Provisions were included for the execution of necessary documents, with a registrar empowered to sign on behalf of a defaulting party.