Lowe and Lowe

In the matter of Lowe and Lowe, the parties were Ms. Lowe (the Wife) and Mr. Lowe (the Husband). The dispute concerned the division of their property and financial resources. The decision was made by Judge Altobelli in the Federal Circuit and Family Court of Australia.

The court was required to determine the method for the sale of a property known as Property B, including the process for appointing agents, setting reserve prices, and distributing sale proceeds. It also needed to crystallise the asset pool for division, identify the specific assets and liabilities of each party, and determine the percentage split of the net asset pool between the Husband and Wife. Furthermore, the court had to establish the payment schedule for any equalization payment required from one party to the other, and address the transfer of specific assets, including Property H, and the allocation of various business interests and liabilities.

The court ordered the sale of Property B by public auction within eight weeks, with the Wife's solicitor to have carriage of the sale. The proceeds were to be applied first to sale costs, then to discharge the mortgage, reimburse the Husband for preliminary sale expenses, and the net proceeds were to be paid to the Wife. The Husband was ordered to pay mortgage instalments until the sale or for four months, whichever was sooner, with adjustments to the Wife's entitlement if he paid beyond that period. The court then defined the asset pool, valuing various properties, bank accounts, superannuation interests, and loans. The asset pool was to be divided 60% to the Wife and 40% to the Husband.

The Wife was to receive Property H, the net proceeds from Property B, her bank account, motor vehicle, household contents, and her superannuation. The Husband was to pay the Wife the difference between his 40% entitlement and the assets retained by her, with specific payment dates and instalment arrangements outlined. The Husband was also ordered to transfer his interest in Property H to the Wife within six weeks and to pay certain expenses related to both properties pending compliance. The Husband was to indemnify the Wife against liabilities arising from specific businesses, and the Wife was to resign directorships in those businesses upon receipt of full payment. The Wife's application for spouse maintenance was dismissed.