GRANTLEY & JACQUES (No.2)

In *Grantley & Jacques (No.2)*, Purdon-Sully J was required to determine the division of net assets between the parties. The dispute concerned the equitable distribution of property following the breakdown of the relationship.

The court was tasked with determining the specific assets and liabilities to be allocated to each party and the method by which the net assets would be divided. This involved calculating the value of various assets, including real estate, vehicles, bank accounts, and superannuation, and then formulating orders to achieve the desired percentage split.

Purdon-Sully J ordered that the net assets be divided such that the Applicant received 25% and the Respondent received 75%. To achieve this division, the Applicant was to retain certain specified assets, and the Respondent was ordered to pay a sum of $93,521 to the Applicant within sixty days. The Respondent was to retain the former matrimonial home and other listed assets and liabilities, with the payment to the Applicant being factored into his total allocation. The orders further detailed a mechanism for the transfer of the [S] property, including provisions for obtaining finance, sale by private treaty, or sale by public auction if necessary, with specific terms and timelines for each scenario. The proceeds from any sale of the [S] property were to be applied towards sale expenses and then distributed to achieve the overall asset division. Until the property was sold, the Respondent was to have sole possession and be responsible for its maintenance, rates, and insurance. Finally, each party was to retain the chattels and personal property in their possession, and both parties were granted liberty to apply to the court regarding the implementation of these orders.