Grist & Grist

In a property settlement dispute before Coleman J, the wife sought an adjustment to the division of the parties' assets. The core of the disagreement concerned the contributions made by each party during the marriage and in the period following separation, as well as the appropriate consideration of factors under section 75(2) of the Family Law Act 1975 (Cth). The wife also contended that the division of property should satisfy the requirements of justice and equity under section 79(2) of the Act.

Coleman J determined that the wife's comparatively active management of the parties' assets warranted a 10 per cent adjustment in her favour, reflecting her contributions. However, the Court found no necessity for an adjustment based on the factors enumerated in section 75(2). The Court concluded that the division of property, as determined, would satisfy the overarching requirements of justice and equity under section 79(2).

Given the complex structure of the parties' assets, which included a unit trust and a superannuation fund, and the involvement of third parties, the Court ordered a unique implementation of the property division. The final orders stipulated a 60 per cent entitlement to the wife and 40 per cent to the husband in the total property and superannuation interests, valued at $536,034.18. To give effect to this division, specific directions were made regarding the transfer of property, payments between the parties and trusts, and the release of obligations. The orders also addressed the husband's directorships and shareholdings in various companies, with the wife indemnifying the husband in relation to liabilities concerning these entities. Costs were reserved, and liberty to apply was granted for the implementation of the orders.