Kennedy and Nash

In the matter of Kennedy and Nash, heard by Judge Phipps, the dispute concerned the division of property between the parties. The orders detail the distribution of proceeds from the sale of a property, the allocation of various assets including vehicles and trailers, and the treatment of a superannuation interest.

The court was required to determine how the net proceeds of the property sale should be distributed, including the payment of sale costs, discharge of encumbrances, and a specific sum for a MasterCard bill. Furthermore, the court needed to establish the method for dividing the remaining balance, taking into account the value of assets already retained by each party. The court also addressed the disposition of specific motor vehicles, trailers, and bank accounts, as well as the division of a superannuation interest.

The court ordered that the proceeds of sale be applied first to sale costs and encumbrances, then to the applicant's MasterCard bill. The remaining balance was to be adjusted by adding the value of retained assets, with the total then divided 65% to the applicant and 35% to the respondent, accounting for the value of assets each had already retained. Specific vehicles and bank accounts were allocated to each party. Crucially, the court ordered a splittable payment from the respondent's superannuation interest to the applicant, calculated using a base amount of $18,795, in accordance with the Family Law Act 1975 (Cth) and associated regulations. Each party was to be solely entitled to other property in their possession, and each was to indemnify the other against liabilities related to their allocated property. Liberty to apply was granted to the parties and the superannuation fund trustee regarding the implementation of the superannuation orders.