King and Hamidou

This matter concerned the division of property between a wife and a husband, presided over by McClelland J. The dispute involved the distribution of various assets, including real estate, motor vehicles, bank accounts, superannuation interests, and a business, as well as the allocation of associated liabilities.

The court was required to determine the specific terms of the property settlement, including the quantum of any monetary payment to be made between the parties, the allocation of specific assets and liabilities to each party, and the conditions under which certain assets might be transferred. The orders also addressed the consequences of non-compliance with the primary payment and transfer provisions.

McClelland J ordered the wife to pay a sum of $1,299,740.50 to the husband within three months, retaining certain specified assets including the F property, furniture and contents, a BMW, her superannuation fund, and the D Pty Ltd business and its associated land and bank accounts. The wife was also to indemnify the husband against specific mortgages and her personal taxation liability. Conversely, the husband was to retain the U Road property, his furniture and contents, several motor vehicles, a boat, various bank accounts, a loan, and his superannuation fund, and to indemnify the wife against the mortgage on the U Road property and his personal credit card and bank accounts. In the event of the wife's failure to comply with the initial payment order, the husband was to pay a lesser sum to the wife and receive the D Pty Ltd business and associated accounts. Further provisions were made for the sale of the business should the husband fail to comply with the alternative payment order. Each party was to retain other property not specifically mentioned, free from claim by the other, and to indemnify each other against existing liabilities.