Kane and Kane

Rees J made orders concerning the division of property between a husband and wife. The dispute involved the sale of a property owned by the husband, the distribution of proceeds from a superannuation fund, and the withdrawal of legal proceedings.

The court was required to determine how the parties' assets, specifically a property and a superannuation fund, should be divided. This involved making orders for the sale of the property, the management and distribution of the superannuation fund's assets, and the cessation of ongoing litigation between the parties.

Rees J ordered that the wife be appointed trustee for the sale of the I Town property, with specific directions regarding its listing, auction, and reserve price. The proceeds of the sale were to be applied first to sale expenses and the mortgage, with the balance to the wife. The husband was also directed to sell shares held by a superannuation fund and to ensure the net proceeds, along with other fund balances, were paid to the wife. Further orders required the husband to execute documents to direct payments from a share sale agreement to the wife and to indemnify the wife against liabilities related to the fund. Finally, the husband was ordered to withdraw all proceedings against the wife and was restrained from commencing further legal action. The wife was to retain $1.3 million from the funds received, with the balance to be paid to the husband.