KASUN & KASUN

This matter concerned a final property settlement hearing before Judge B Smith. The dispute involved the division of assets between the applicant wife and the respondent husband, who were both migrants and in second marriages. The wife had three children from a prior marriage, and the parties had one child together. At the commencement of their cohabitation, the parties possessed minimal assets.

The court was required to determine the appropriate assessment of the parties' contributions to the marriage, particularly in light of the husband's alleged use of matrimonial property as "seed funds" for subsequent real estate purchases after separation. A significant issue was the documentary evidence presented, which suggested serious misrepresentations made by the husband to ANZ Bank to secure a loan. The husband, a solicitor, had also provided a Section 128 Evidence Act 1995 certificate, necessitating a duty for the court to refer papers to the relevant authorities.

Judge B Smith reasoned that the husband's conduct, including the alleged misrepresentations to the bank and his actions post-separation, warranted a significant adjustment in the property division. The court applied principles of family law concerning contributions and the impact of financial misconduct. Consequently, the court ordered the husband to pay the wife $572,000. The husband was also directed to discharge or refinance the mortgage on the parties' jointly owned property at B Street, Suburb C, to remove the wife's liability, after which the wife was to transfer her interest in the property to the husband. In the event of non-compliance with the payment order, the property was to be listed for sale by auction, with specific provisions for agent and solicitor appointment, reserve price, and the distribution of proceeds, prioritising the wife's entitlement. The court also directed the referral of papers to the Law Society of NSW and ANZ Bank for their consideration of the husband's conduct.