LAM & JUNG

In the Family Court of Australia, the wife sought a division of the parties' assets, a key dispute concerning the valuation of the husband's business. The parties had engaged three expert valuers, leading to competing valuations, and the hearing was convened to determine which valuation should be accepted as the proper value of the business.

The central legal issue before the court was to determine the accurate value of the husband's business for the purposes of property settlement. This required the court to assess the evidence presented by three independent expert valuers and decide which valuation was most reliable and should form the basis of the asset pool.

Judge Bender considered the evidence and reasoning of each of the three expert valuers. The court ultimately found the proper value of the husband's business to be $640,582. No specific orders were made regarding the division of assets at this stage, indicating that further proceedings may be required to finalise the property settlement.