Mallet v Mallet

The High Court of Australia considered an appeal concerning the division of property between Mr. and Mrs. Mallet. The dispute centred on the appropriate method for valuing and distributing assets, particularly shares in a proprietary company, in accordance with section 79 of the *Family Law Act 1975* (Cth).

The primary legal issues before the High Court were whether the Full Court of the Family Court had erred in its approach to the division of matrimonial property, specifically concerning the presumption of equality and the valuation of company shares. The Court also had to determine the proper function of an appellate court when reviewing the exercise of judicial discretion by a trial judge in such matters.

The High Court held that there is no presumption of equality in the division of matrimonial property under section 79 of the *Family Law Act*. Instead, the Court emphasised that the ultimate aim is to achieve a just and equitable outcome, considering all relevant circumstances. The Court found that the Full Court had misapplied the principles governing property division by imposing an undue emphasis on equality and had erred in its assessment of the valuation of the company shares. Consequently, the High Court allowed the appeal, setting aside the judgment of the Full Court and ordering that the appeal to that Court be dismissed, with no order as to costs.