Molloy and Molloy

In *Molloy and Molloy*, heard by Judge Henderson, the dispute concerned the division of property between a husband and wife. The court was required to determine the appropriate financial and property orders to be made in light of the parties' circumstances.

The central legal issues before the court were the quantum of a lump sum payment to be made by the husband to the wife, and the disposition of a specific property (Property D) owned by the parties. The court also had to consider the mechanism for discharging existing liabilities associated with Property D and the consequences of non-payment of the lump sum.

Judge Henderson ordered the husband to pay the wife a sum of $372,320 within 90 days, with interest accruing if payment was delayed. Simultaneously, the wife was to transfer her interest in Property D to the husband, provided he discharged her existing mortgage liabilities on that property. If the lump sum was not paid within the stipulated timeframe, the parties were to list Property D for sale, with the net proceeds to be applied first to sale costs and mortgage discharge, then 42.5% of the remainder plus accrued interest to the wife, and the balance to the husband. All other assets were to remain with the party currently possessing them.