Hulls and Hulls

This matter concerned an application before Forrest J concerning the division of property between a wife and a husband. The dispute involved the distribution of funds held by a company, E Pty Ltd, and the sale of a jointly owned property. The court was required to make orders regarding the declaration and distribution of a dividend, the sale of a residential property, and the application of sale proceeds.

The court was asked to determine how a dividend from E Pty Ltd should be declared and distributed, and how the proceeds from the sale of the parties' home should be applied. Further issues included the terms of the sale of the home, including the appointment of agents and auctioneers, and the payment of associated costs. The court also considered the wife's sole occupation of the home pending sale and the husband's access to the property, as well as the husband's salary from G Pty Ltd.

Forrest J ordered that E Pty Ltd declare and pay a dividend to the Hulls Family Trust, with $400,000 to be distributed to the wife and the balance to the husband, with specific tax treatment for these distributions. The court also ordered that the parties take all necessary steps to list the home for sale by private treaty within 60 days, with provisions for agreeing on an agent and price, or obtaining such agreement through the Chief Executive Officer of the Real Estate Institute of Queensland. If the property was not sold within three months of listing, it was to be auctioned, with similar provisions for selecting an auctioneer and setting a reserve price. The proceeds of sale were to be applied first to sale costs and outstanding property expenses, then to discharge a mortgage to Westpac Banking Corporation, with the balance to the wife. Any remaining funds in a specified Westpac account were to be split equally between the parties. Pending sale, the wife was granted sole occupation of the home, and the husband was restrained from entering the property without her consent. The husband was also restrained from increasing his salary from G Pty Ltd without the wife's agreement or further court order.