MASOUM & CHETCUTI

This matter concerned orders made by Foster J in relation to the division of property between a husband and wife. The dispute involved the sale of two properties, the distribution of proceeds from joint accounts and shares, and the division of superannuation interests. The court was required to make orders concerning the immediate sale of the parties' properties, the allocation of sale proceeds, and the management of ongoing property outgoings and mortgage payments pending sale.

The legal issues before the court included determining the method of sale for the two properties, specifying the order of priority for the distribution of sale proceeds, and allocating responsibility for property outgoings and mortgage payments during the period of occupation or pending sale. Furthermore, the court was required to address the closure of joint accounts and the sale of jointly held shares, as well as the division of a superannuation fund interest in accordance with the *Family Law Act 1975* (Cth).

Foster J ordered the immediate sale of the properties by public auction, with the reserve price to be agreed or fixed by the selling agent. The proceeds of sale were to be applied first to discharge specific loans and expenses, with the balance of the first property's proceeds to be divided with 57.5 per cent to the wife, less half of certain expert fees paid by the husband. The remaining balance of both properties' proceeds was to be paid to the husband. The wife was granted sole use and occupation of one property pending sale, with responsibility for outgoings and mortgage payments, subject to adjustment from her share of proceeds. Provisions were made for the husband to occupy the property if the wife vacated, or for equal payment of outgoings if neither occupied it. Joint accounts and shares were to be closed and sold, with proceeds paid to the wife. A base amount of $78,117.00 was allocated to the wife from the husband's superannuation interest, with consequential orders for the trustee to calculate and pay the wife's entitlement and for the wife's member entitlements to be rolled over to a complying fund nominated by her. Upon the rollover, the wife was to transfer her interests in certain companies to the husband, who would then indemnify her from any liability.