ISHERWOOD & ISHERWOOD (No.2)

This matter concerned property orders sought by the parties pursuant to section 79 of the *Family Law Act 1975* (Cth). The court was required to determine the asset pool for division, including dealing with asserted "addbacks" and assets located in Country B. The court also made findings regarding the credit of a party.

The primary legal issues before the court were the valuation of the various assets comprising the matrimonial pool, the appropriate treatment of certain funds as "addbacks" to the asset pool, and ultimately, how the net asset pool should be divided between the parties to achieve a just and equitable outcome. The court also had to consider the creditworthiness of a party in making its factual findings.

The court made specific orders for the division of funds from joint accounts, the allocation of responsibility for certain debts, and the transfer of shares. It also addressed the division of superannuation interests, including the allocation of a base amount to the Wife from the Husband's interest in the M Super fund and the subsequent calculation and payment of her entitlement. The orders clarified the sole ownership of remaining assets for each party, distinguishing between those in the Husband's control and those in the Wife's control, and specifically detailing various partial property settlements and interim costs received by each. The court also made provision for the execution of documents by the Registrars in the event of non-compliance by either party, and dismissed all outstanding applications.