Kelby and Kelby (No. 2)

In *Kelby and Kelby (No. 2)*, Watts J of the Family Court of Australia made property settlement orders between the husband and wife. The dispute concerned the division of the parties' assets and liabilities, including shares in a company and a property located at G Street, Suburb H, New South Wales.

The court was required to determine the terms of the property settlement, including the transfer of specific assets and the payment of a sum of money between the parties. The orders also addressed the responsibilities for costs and duties associated with the property transfers and the procedure to be followed in the event of non-compliance with the settlement terms, particularly concerning the sale of the G Street property.

Watts J applied section 79 of the *Family Law Act 1975* (Cth) to make the property settlement orders. The court ordered the wife to transfer her shares in J Pty Ltd to the husband and resign as a director of the company. In return, the wife was to pay the husband a sum of $339,296, and the husband was to transfer his interest in the G Street property to the wife. The orders stipulated detailed provisions for the sale of the G Street property should the wife fail to make the payment, appointing the husband as trustee for the sale with extensive powers. The proceeds of any sale were to be disbursed according to a specific percentage split, with a further adjustment mechanism if the sale price exceeded or fell below $3,000,000. The court also declared each party to be the sole owner of property in their possession and solely responsible for debts in their name, except as otherwise provided. Finally, the court made provision for the Registrar to execute documents if a party refused to do so and granted leave to relist the matter for implementation issues.