Liveson and Zhou (No. 2)
Case
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[2019] FamCA 1054
•27 November 2019
Details
AGLC
Case
Decision Date
Liveson and Zhou (No. 2) [2019] FamCA 1054
[2019] FamCA 1054
27 November 2019
CaseChat Overview and Summary
In *Liveson and Zhou (No. 2)*, Forrest J made orders concerning the division of property and superannuation interests between the applicant husband and the respondent wife. The dispute involved the management and distribution of assets held within the Zhou Superannuation Fund, as well as various other properties, financial accounts, and company shares.
The court was required to determine how the parties' respective interests in the Zhou Superannuation Fund should be treated, particularly in light of a unilateral withdrawal by the applicant husband. Further issues included the allocation of numerous real properties, motor vehicles, and funds held in term deposit and joint accounts. The court also needed to address the ongoing liabilities and indemnities between the parties concerning various corporate and trust entities.
Forrest J ordered that the applicant husband's unilateral withdrawal from the Zhou Superannuation Fund be treated as a lump sum withdrawal of his member benefits, with the balance of his interest to be recalculated accordingly. The respondent wife was to receive 100% of any future splittable payments from the applicant husband's remaining interest in the fund. The orders also stipulated the transfer of several properties to the respondent wife as trustee for the Zhou Superannuation Fund, and upon compliance, the applicant husband was to resign as a member and trustee. Subsequently, the respondent wife was to transfer a property to the applicant husband, while retaining other specified properties and interests in various companies and trusts as her sole property. The applicant husband was to retain his interest in another superannuation fund and the previously withdrawn funds, along with shares in specific companies and trusts. The court also made detailed orders regarding indemnities between the parties for liabilities arising from their involvement in certain entities and imposed a mechanism for enforcing the orders through the appointment of a Registrar if a party failed to comply.
The court was required to determine how the parties' respective interests in the Zhou Superannuation Fund should be treated, particularly in light of a unilateral withdrawal by the applicant husband. Further issues included the allocation of numerous real properties, motor vehicles, and funds held in term deposit and joint accounts. The court also needed to address the ongoing liabilities and indemnities between the parties concerning various corporate and trust entities.
Forrest J ordered that the applicant husband's unilateral withdrawal from the Zhou Superannuation Fund be treated as a lump sum withdrawal of his member benefits, with the balance of his interest to be recalculated accordingly. The respondent wife was to receive 100% of any future splittable payments from the applicant husband's remaining interest in the fund. The orders also stipulated the transfer of several properties to the respondent wife as trustee for the Zhou Superannuation Fund, and upon compliance, the applicant husband was to resign as a member and trustee. Subsequently, the respondent wife was to transfer a property to the applicant husband, while retaining other specified properties and interests in various companies and trusts as her sole property. The applicant husband was to retain his interest in another superannuation fund and the previously withdrawn funds, along with shares in specific companies and trusts. The court also made detailed orders regarding indemnities between the parties for liabilities arising from their involvement in certain entities and imposed a mechanism for enforcing the orders through the appointment of a Registrar if a party failed to comply.
Details
Key Legal Topics
Areas of Law
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Family Law
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Equity & Trusts
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Commercial Law
Legal Concepts
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Remedies
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Costs
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Injunction
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Fiduciary Duty
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Constructive Trust
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Res Judicata
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