MORROW & STEELE (No.2)

This matter concerned orders made by Judge Burchardt in a family law proceeding between a husband and wife. The dispute involved the division of property and the resolution of financial liabilities between the parties.

The court was required to determine the terms of the final property settlement, including the distribution of funds held on trust, the transfer of a motor vehicle, a significant monetary payment from the husband to the wife, and the wife's relinquishment of interests in various entities. Further issues included the husband's indemnification of the wife against liabilities of a group of companies, the splitting of superannuation interests, and the allocation of costs.

Judge Burchardt ordered that specific sums be paid from trust funds, with priority given to tax liabilities of both parties. The husband was also ordered to transfer a BMW motor vehicle to the wife and to pay her $500,000 by a specified date. Contemporaneously with this payment, the wife was to relinquish all interest in a list of named entities, referred to as the "Steele Group." The husband was further ordered to indemnify the wife against all liabilities of the Steele Group, including any personal taxation liabilities arising from their involvement. The court also ordered a split of the husband's superannuation interest, with specific provisions to bind the trustee and protect the wife's entitlement in the event of the husband's death. Each party was to bear their own costs, except for the costs of a specific expert report, which were to be shared equally. The orders also stipulated that each party was solely entitled to property in their possession, with specific provisions for bank accounts, superannuation, insurance policies, and the severance of any joint tenancies.