MCILLROY & MCILLROY

In MCILLROY & MCILLROY, Le Poer Trench J considered a dispute between a husband and wife concerning the division of their property. The case involved the assessment of post-separation contributions and the valuation of the husband's interest in certain business entities, with particular attention paid to the admissibility of expert opinion evidence and the inclusion or exclusion of specific balance sheet items.

The primary legal issues before the court were the extent to which an adjustment should be made in favour of the wife, the accurate valuation of the husband's interest in the Business 1 corporations, and the proper treatment of various balance sheet items in the overall property settlement. The court was also required to determine the admissibility and weight of expert evidence presented on these matters.

The court's reasoning involved a detailed examination of the evidence presented, including expert reports, to arrive at a just and equitable distribution of the parties' assets. The principles applied would have encompassed the relevant provisions of the *Family Law Act 1975* (Cth) concerning property division, including considerations of contributions, financial resources, and future needs. The court's orders reflect a comprehensive division of assets and liabilities, including specific monetary payments, property transfers, and indemnities between the parties. The orders also address the ownership of various personal possessions, bank accounts, and superannuation entitlements, as well as the division of surplus funds from specific accounts.