Finlay & Finlay (No 3)

This case concerned property settlement proceedings between Ms Finlay (the Wife) and Mr Finlay (the Husband) before Justice Betts of the Federal Circuit Court of Australia. The dispute involved the division of the parties' net non-superannuation property and superannuation interests.

The court was required to determine the appropriate division of the parties' net non-superannuation property, considering their respective proposals for retaining the S Street, Suburb G property. Additionally, the court needed to address the division of the Husband's superannuation interest in the Finlay Family Super Fund, including the operative time and mechanism for splitting the splittable payments.

Justice Betts ordered that the net non-superannuation property be divided as to 75% to the Wife and 25% to the Husband. The court discharged all prior property orders and restraints. The Wife was to retain funds from specific trust accounts. Regarding superannuation, the court ordered a split of the Husband's interest in the Finlay Family Super Fund, entitling the Wife to a base amount of $46,067 from splittable payments, with a corresponding reduction in the Husband's interest. The court also outlined the process for the Wife to roll out her interest in the fund and for the Husband to indemnify her against liabilities related to the fund. The parties were ordered to take necessary steps to give effect to these orders, with the Registrar appointed to execute documents if a party refused. The court invited further submissions on the exact orders to be sought, particularly concerning the S Street property and default sale orders, and reserved the question of costs.