Hessing and Hessing

In *Hessing and Hessing*, the parties, Mr and Ms Hessing, sought consent orders from the court regarding the division of their property and the resolution of financial matters. The dispute concerned the distribution of assets and liabilities, including various companies, trusts, and superannuation interests, following their separation.

The court was required to determine the terms of the consent orders, which encompassed the payment of a significant sum by the Husband to the Wife, the transfer of the Wife's interests in a group of companies and entities (referred to as the "K Group") to the Husband, and the Husband's indemnification of the Wife from liabilities associated with these entities. The orders also addressed the division of superannuation, specifically a self-managed superannuation fund of which both parties were members and trustees, and the allocation of other personal and joint debts and liabilities.

Loughnan J made orders by consent, reflecting a comprehensive agreement between the parties. The Husband was ordered to pay the Wife $4,500,000 within 180 days and to procure her release from all liabilities associated with the K Group. Upon the Husband's compliance, the Wife was to transfer her interests in the K Group to the Husband and resign from any offices held within those entities. The Husband was also ordered to indemnify the Wife against all liabilities arising from her involvement with the K Group and associated settlements. In the event of the Husband's default, he was to transfer his interests in the K Group and settlements to the Wife. The orders also included injunctions restraining the Husband from interfering with the management of the K Group and from making certain representations pending his compliance with the payment order. Furthermore, the parties agreed to the rollover of the Wife's member entitlement from their joint self-managed superannuation fund to a fund nominated by her, with the Husband to remain the sole member thereafter. The remaining assets and liabilities were to be held by each party solely, with mutual indemnities for debts incurred in their sole names or in relation to assets awarded to them.