GIMONDI & GIMONDI

This matter concerned orders made by Foster J in the Family Court of Australia, determining the property settlement between a husband and wife. The dispute revolved around the division of assets and liabilities, including their matrimonial home, bank accounts, vehicles, shares, and other personal property.

The court was required to make orders concerning the transfer of interests in the matrimonial home, the discharge of a mortgage, the delivery of keys, and the exclusive use and occupation of the property pending final resolution. Further issues included the division of various financial accounts, motor vehicles, shares in companies, and personal possessions. The court also had to determine the consequences of default in payment, specifically regarding the sale of the matrimonial home and the distribution of sale proceeds.

Foster J made orders by consent, establishing a framework for the division of property. The wife was ordered to pay the husband a sum of $498,153 within three months, in consideration of which the husband would transfer his interest in the matrimonial home to her. The wife was also required to procure the discharge or refinance of the existing mortgage to relieve the husband of liability. Pending this payment and transfer, the wife was granted sole use and occupation of the home. In the event of the wife's default in payment within four months, the parties were ordered to sell the property, with the proceeds to be applied first to selling costs, then to the discharge of the mortgage, and thereafter to the husband in an amount to be calculated based on a proportion of the sale price or the original sum plus interest, whichever was greater, with the balance to the wife. The orders also detailed the retention of various other assets and liabilities by each party, including bank accounts, vehicles, shares, and personal effects. Additionally, the husband was ordered to transfer half of his frequent flyer points to the wife.