Laskari & Laskari and Ors

In the matter of *Laskari & Laskari and Ors*, Justice Le Poer Trench of the Family Court of Australia considered a dispute between a husband and wife, involving complex property division and financial arrangements. The proceedings also involved several other respondents who were co-guarantors of a NAB security. The court was tasked with determining the extent of the co-guarantors' liability, the division of various assets including shares and superannuation, and the respective entitlements of the husband and wife to reimbursement and indemnification.

The court was required to make declarations regarding the indebtedness of the co-guarantors to the husband and wife, and to order the transfer of various assets between the parties. These assets included the wife's entitlement to reimbursement from the co-guarantors, the husband's interest in the proceeds from the sale of the former matrimonial home, jointly held IAG shares, Telstra shares held in the husband's name, and entitlements within the Laskari Family Superannuation Trust. The court also had to consider the implications of a superannuation splitting order under section 90MT(1)(b) of the *Family Law Act 1975* (Cth).

Justice Le Poer Trench reasoned that the co-guarantors were jointly and severally liable to the husband and wife for a specified sum, reflecting their obligations under the NAB security. The court ordered the wife to transfer her entitlement to reimbursement to the husband, while the husband was ordered to indemnify the wife against any claims arising from their co-guarantor relationship. Significant orders were made concerning the division of the matrimonial home proceeds, shares, and superannuation, including a detailed superannuation splitting order that mandated an 84.5 per cent split of splittable payments from the husband's interest in the Laskari Family Superannuation Trust to the wife. The court also declared each party the absolute owner of property standing in their sole name, other than as specifically ordered.