Galleti and Thanos

In the matter of *Galleti and Thanos*, heard by Judge McGuire, the dispute concerned the division of property and liabilities between a husband and wife. The court was tasked with determining how various assets and debts should be allocated between the parties following their separation.

The central legal issues before the court were the equitable distribution of the parties' joint interests in a proprietary limited company, the recovery and division of outstanding debts owed by a third party, the division of proceeds from the sale of the former matrimonial home, and the allocation of personal credit card liabilities and a specific loan. The court also had to determine the entitlement to other property in the parties' possession or control and responsibility for liabilities associated with retained assets and post-separation debts.

Judge McGuire ordered that the parties dispose of their interest in [P] Proprietary Limited at fair market value, with the net proceeds to be divided equally. The parties were also directed to endeavour to recoup outstanding debts from Mr R/[E] Corporation, with any returns to be split 50/50. Proceeds from the sale of the former matrimonial home were to be divided equally. Each party was made solely responsible for their personal credit card liabilities and any liabilities attached to assets they retained, as well as any liabilities incurred since separation. The husband was solely responsible for and to indemnify the wife in respect of an outstanding loan to his parents. All other property, including superannuation, in each party's possession or control was to be retained by that party exclusively.