Judd and Cornell-Judd

In the matter of Judd and Cornell-Judd, Hannam J considered the division of an asset pool between the parties. The dispute concerned the distribution of monies held in a controlled money account and a joint Commonwealth Bank account.

The court was required to determine how the funds in the identified accounts should be distributed between the husband and wife. Further issues included the closure of the joint account, indemnities for outstanding debts, and the allocation of other assets and liabilities. The court also addressed the husband's obligation to close overseas accounts previously operated by him in the wife's name.

Hannam J ordered that a specific sum of $188,230.50 be paid to the wife from the asset pool, with the remaining balance to be paid to the husband. Both parties were ordered to take steps to close the joint Commonwealth Bank account upon distribution. The wife was ordered to indemnify the husband in relation to monies outstanding to Mr B and to pay Mr B $80,000. Conversely, the husband was ordered to indemnify the wife in relation to various liabilities, including those owed to C Pty Ltd and any business in which the husband has an interest. Each party was to retain assets and liabilities in their respective names, with the husband to close any overseas accounts in the wife's name operated by him within 28 days. The Registrar of the Court was appointed to execute any necessary deeds or instruments if either party refused or neglected to do so. All outstanding applications and cross-applications were dismissed.