Fane & Lemott

This matter concerned a dispute between the parties, Mr. Lemott (husband) and Ms. Fane (wife), regarding the division of their property, including significant superannuation interests. The case was heard by Austin J in the Family Court of Australia.

The court was required to determine how the parties' respective contributions to their tangible assets and superannuation interests should be considered and valued. Specifically, the court needed to address the valuation and division of the husband's police service pension, which was a substantial asset and was approaching a point where the husband could elect to commute it. The court also had to consider adjustments to the property division based on factors prescribed by sections 79(4)(d)-(g) and 75(2) of the *Family Law Act 1975* (Cth).

Austin J determined the parties' contributions to their superannuation and tangible assets separately. The husband's police pension was valued in accordance with the methodology prescribed by the *Family Law (Superannuation) (Method and Factors for Valuing Particular Superannuation Interests) Approval 2006 (No.2) (Cth)*, with its value for the purposes of the orders fixed at $2,228,438. An adjustment was made in the husband's favour concerning tangible assets due to the factors outlined in sections 79(4)(d)-(g) and 75(2) of the Act.

The court made orders for the division of property, including the wife receiving sole ownership of a property at B Road, B, NSW, and being indemnified against related outgoings. A base amount of $298,748 was allocated to the wife from the husband's police superannuation interest, with further entitlements to be calculated and paid in accordance with the *Family Law (Superannuation) Regulations 2001*. The orders were made binding on the SAS Trustee Corporation as trustee of the Police Superannuation Scheme. Each party was declared the sole legal and beneficial owner of other assets in their possession, and each was solely liable for debts relating to those assets. Costs were reserved.