KARAS & KARAS

This matter concerned orders made by Judge Henderson in relation to property settlement between the parties, identified as the wife and the husband. The dispute centred on the division of assets, particularly a property located in New South Wales, and the financial adjustments required between the parties. The orders also addressed the disposition of furniture, jewellery, and other personal property, as well as child support.

The court was required to determine the terms of the property settlement, including the transfer of a specific property, the discharge of a mortgage, and the payment of a sum of money by the husband to the wife. Further issues included the husband's obligation to pay a sum of money to his parents and to indemnify the wife against future claims. The court also had to consider the procedure for the sale of the property should the husband fail to comply with the primary orders, including the listing price, reserve price, and the priority of disbursement of sale proceeds. Finally, the court addressed an application for child support departure.

Judge Henderson ordered that the wife transfer her interest in the New South Wales property to the husband within 60 days. Simultaneously, the husband was to discharge the mortgage over the property, release the wife from liability for that mortgage, and pay the wife $285,400 as a property settlement adjustment. The husband was also ordered to pay $500,000 owed to third parties and indemnify the wife against any claims relating to that debt. In the event of the husband's non-compliance, the property was to be listed for sale by private treaty, with provisions for agent appointment and sale price determination by agreement or valuer. If the property did not sell within six months, it was to be auctioned, again with agreed or valuer-determined terms. The proceeds of sale were to be applied first to sale costs, then to the mortgage, then to the wife (the greater of 20% of the balance or $285,400 plus interest), then to the husband's parents, and finally the remainder to the husband. The husband was to have sole entitlement to the furniture at the property, and the wife to her jewellery. Each party was to retain other personal property in their possession. The wife's application for child support departure was dismissed, and she was ordered to vacate the property within 60 days, after which the husband would have exclusive occupation and responsibility for outgoings, including mortgage interest.