FOLEY & FOLEY

In the matter of FOLEY & FOLEY, Judge McGuire of the Family Court of Australia made orders concerning the property settlement between the parties. The dispute involved the division of assets and liabilities following the separation of the parties.

The court was required to determine how the parties' various assets, including real property, motor vehicles, and bank accounts, as well as their respective liabilities, would be divided. A significant issue also involved the division of superannuation entitlements, specifically the applicant wife's interest in the E Superannuation Fund.

The court ordered a transfer of property and other assets between the parties, with each party to be solely responsible for liabilities attaching to the assets they retained and for liabilities incurred since separation. Crucially, the court made specific orders pursuant to section 90XT of the Family Law Act 1975 to address the wife's superannuation. These orders stipulated a base amount of $65,386.50 to be allocated to the husband from the wife's superannuation interest, with payments to be made to the husband from splittable payments from the fund, resulting in a corresponding reduction in the wife's entitlement. The orders also included provisions for the trustee of the superannuation fund and restrained the disposal of amounts payable to the wife until the splittable payment to the husband was effected. The court declared its intention for these orders to finally determine the financial relationship between the parties.