Marshman and Marshman (No.2)

This matter concerned orders made by Judge Altobelli in the Federal Circuit and Family Court of Australia concerning the division of property between a husband and wife. The dispute involved the sale of several investment properties, the distribution of proceeds, and the allocation of capital gains tax liabilities arising from these sales. The court also made orders regarding the transfer of other assets and liabilities between the parties.

The court was required to determine the specific terms for the sale of multiple investment properties located in the Northern Territory and Queensland, including the method of sale and the priority of payments from the sale proceeds. Further issues included the calculation and payment of capital gains tax arising from these sales, the division of remaining sale proceeds, and the transfer of other specified assets and liabilities between the husband and wife. The court also addressed the ongoing responsibility for outgoings on the investment properties and the establishment of a joint rental account.

The court's reasoning, as reflected in the orders, involved a detailed scheme for the liquidation of investment properties and the equitable distribution of the net proceeds. It established a clear allocation of responsibility for any shortfall in rental income to cover loan repayments and expenses, with the wife bearing a larger proportion. The orders also mandated the sale of the investment properties by private treaty, with a mechanism for dispute resolution if agreement on price could not be reached. The court further outlined a process for calculating and discharging capital gains tax liabilities before the final distribution of remaining funds. The orders also provided for the transfer of specific assets, including a property and various shareholdings, from the husband to the wife, and the payment of a sum of money by the wife to the husband, contingent on the husband's repayment of a joint loan.

The court made extensive orders detailing the sale of investment properties, the disbursement of sale proceeds, the payment of capital gains tax, and the transfer of various assets and liabilities between the parties. These orders included specific percentages for the division of sale proceeds and ongoing property outgoings, the appointment of a third party to execute documents if necessary, and the allocation of superannuation entitlements. The husband was ordered to pay 80 per cent of the wife's costs of the proceedings.