LONG & LONG

This matter concerned property settlement orders made by Judge Coker. The orders dealt with the division of assets between a husband and wife, including a property, and the splitting of superannuation interests.

The court was required to determine the terms of the final property settlement, including the payment of a sum of money by the husband to the wife, the refinancing of joint debts, and the potential sale of a jointly owned property. Further, the court was required to make orders concerning the husband's superannuation interests, including the allocation of a base amount to the wife from his superannuation fund and the process for splitting payments and rollovers, as well as orders relating to a self-managed superannuation fund.

The court ordered that the husband pay the wife $463,200 within 60 days and arrange refinancing of joint debt on their property, releasing the wife from liability. If payment was not made, the property was to be listed for sale by public auction, with specific provisions regarding agent selection, reserve price, and acceptance of offers. The net proceeds of sale were to be divided with 60% to the wife and the balance to the husband. The court also made detailed orders regarding the husband's superannuation, allocating a base amount of $30,000 to the wife from his interest in a superannuation fund and specifying the process for payment splits and rollovers, binding the trustees of the fund. Additionally, orders were made concerning a self-managed superannuation fund, requiring the husband and wife to take steps to facilitate the wife's resignation as a director and member of the fund, and the transfer of her shares in the trustee to the husband.