Kimpton and Kimpton and Anor

In the matter of *Kimpton and Kimpton and Anor*, Judge Altobelli of the Federal Circuit Court of Australia was required to determine the financial and property settlement orders between the husband and wife, and also to address the interests of a second respondent in relation to certain property. The dispute concerned the division of various assets, including sale proceeds from two properties, a jointly held property, and the winding up of two companies. The court also considered an application to vary child support payments.

The primary legal issues before the court were the equitable distribution of the parties' property and financial resources, including the allocation of sale proceeds from properties held by a third-party solicitor, the determination of beneficial interests in a jointly owned property, and the resolution of the parties' respective interests in two companies. Additionally, the court was tasked with assessing whether to increase the husband's child support obligations and to make declarations regarding the parties' sole ownership of certain chattels and financial holdings.

The court's reasoning, as reflected in the orders, involved a comprehensive division of the marital assets. The sale proceeds from two properties were ordered to be paid entirely to the wife. A property known as Property M was declared to be held on trust, with 50% jointly for the husband and wife, and 50% for the second respondent. The husband was ordered to pay a significant sum to the wife and discharge a mortgage on Property M, in exchange for which the wife would transfer her interest in that property to him. In default of payment, Property M was to be sold, with proceeds distributed in a specific order, including payment to the second respondent, discharge of liabilities, and satisfaction of the wife's entitlement. The parties were also directed to wind up two companies. The court granted leave to apply for variation of child support and ordered an increase in the husband's annual child support payments for specific years. Finally, each party was granted sole title to chattels and financial assets in their possession or sole name.