Martin and Martin

In the matter of *Martin and Martin*, Young J of the Family Court of Australia considered an urgent application to vary existing consent orders concerning the sale of a property. The dispute centred on the husband's obligations regarding the sale of the "E property" in Victoria, which was subject to a prior consent order dated 10 December 2010.

The court was required to determine whether to vary the existing consent orders to reflect a new reserve price for the E property and to clarify the husband's ongoing financial responsibilities concerning the property pending its sale. The application also sought to address the husband's undertaking to guarantee the property's market value and indemnify the wife against any shortfall.

Young J varied the consent orders by substituting a reserve price of $1,600,000 for the E property. The husband was ordered to continue making all mortgage payments and other required outgoings for the property until settlement or further order. Crucially, the court made these orders upon the husband's undertaking, through his Senior Counsel, to guarantee the E property's market value at no less than $1,560,000 and to indemnify the wife for any shortfall in the sale price. The application was adjourned for further hearing before Dessau J within 28 days, with costs reserved.