Lawless and Lawless and Ors

This matter concerned orders made by Justice Cohen regarding the division of property between a husband and wife, who were also trustees of the Lawless Family Trust. The respondents included Mr. Lawless Senior, Mrs. Lawless Senior, and M Pty Limited. The dispute centred on the sale of real property known as the "S property" and the former matrimonial home, the "W property," and the distribution of the proceeds, as well as the allocation of joint debts.

The court was required to determine how the proceeds from the sale of the "S property" should be divided between M Pty Limited and the Lawless Family Trust, and how the Lawless Family Trust's share should be applied to discharge specific debts owed to G Credit Union Ltd and P College, with any residue to be divided between the husband and wife. Furthermore, the court needed to establish the wife's election regarding the husband's interest in the "W property," and the subsequent steps for either its sale or transfer to the wife, including the allocation of remaining debts and the distribution of any remaining proceeds or equity. The court also had to address the division of three joint debts owed to Y Credit Union Limited and P College in different scenarios.

Justice Cohen ordered that the "S property" be sold within two months, with the net proceeds to be divided equally between M Pty Limited and the Lawless Family Trust. From the Trust's share, specified debts to G Credit Union Ltd and P College were to be discharged, with any remaining funds distributed 76% to the wife and 24% to the husband. The wife was given one month to elect in writing whether to seek a transfer of the husband's interest in the "W property." If she elected not to, the "W property" was to be sold within two months, with proceeds applied to discharge remaining debts to G Credit Union Ltd and P College, then a specific sum paid to the wife, and the balance divided 76% to the wife and 24% to the husband. If the wife elected to take the husband's interest, she was to pay him a specified sum and 76% of the balance of joint debts, while the husband was to pay 24% of the balance of joint debts and transfer his interest in the "W property" to the wife. The orders also stipulated consequences for non-compliance with these obligations and reserved liberty to apply and costs.