Gabor and Gore

This matter concerned orders made by Judge Harland regarding the division of property between the applicant and the respondent. The dispute involved the sale and distribution of proceeds from Property A and Property B, the transfer of Property C, the closure of joint bank accounts, and the division of superannuation entitlements. The court also addressed the payment of various debts and liabilities of the marriage, including taxation liabilities, superannuation guarantee payments, accountancy fees, school fees, and other personal and business debts.

The court was required to determine the specific terms for the sale of Property A and Property B, including the method of sale, the timeframe for agreement on price, and the process for determining the price if agreement could not be reached. It also had to specify the order of priority for the disbursement of sale proceeds, distinguishing between sale expenses, mortgagee payments, various debts of the marriage, and the final distribution of the net proceeds between the parties. Further issues included the transfer of Property C, the discharge of a mortgage on that property, the closure of joint bank accounts, and the respective entitlements to superannuation.

The court ordered that Property A be sold by private treaty, with a mechanism for price determination by the Real Estate Institute of Victoria if the parties could not agree. The proceeds were to be applied first to sale costs and mortgagee payments, then to a comprehensive list of debts of the marriage, including tax liabilities, superannuation obligations, accountancy fees, school fees, and other specified debts. The remaining net proceeds were to be divided, with 60% to the applicant and 40% to the respondent, after certain deductions including legal fees, council rates, and reimbursements to the husband. Property B was to be transferred to the wife at her sole expense, with her paying the husband 58% of the equity. If this did not occur, Property B was to be sold, with proceeds distributed 58% to the applicant and 42% to the respondent. The court also made orders for the transfer of Property C to the applicant, the closure of joint bank accounts, and the retention of individual superannuation entitlements, with specific provisions for the husband's resignation as a trustee and withdrawal from a superannuation fund. The respondent was ordered to pay the applicant's costs fixed at $25,000, to be deducted from the applicant's share of the sale proceeds of Property A. Provisions were also made for the shortfall of the applicant's share of Property A to be deducted from her share of Property B.