Nettler & Nettler

This case concerned a property settlement dispute between a husband and wife. The primary assets in contention were a family company, YG Pty Limited, and a unit trust. The court was required to determine the valuation of these assets, the parties' respective contributions to the marriage, and whether any adjustments were warranted under section 75(2) of the *Family Law Act 1975* (Cth) to ensure a just and equitable outcome.

The court was tasked with valuing the family company, YG Pty Limited, and the parties' interests in a unit trust. It also needed to assess the pre-separation and post-separation contributions of each party to the marriage and its assets. Finally, the court had to consider whether any adjustments were necessary under section 75(2) of the *Family Law Act 1975* (Cth) and how to achieve a just and equitable distribution of property, particularly given the nature of the assets.

Coleman J accepted the expert valuations for the family company, applying the "highest and best use" principle and considering the existence of a market for the company's loan book. The court also accepted the expert valuation of the parties' interests in the unit trust, finding that it did not constitute a financial resource for the wife. In assessing contributions, an asset-by-asset approach was used, with the court finding equal contributions to the family company and a greater contribution by the wife to other assets, partly offset by the husband's contributions relating to the wife's children from a previous relationship. No alteration to contributions was made for the post-separation period. A 1% adjustment was made in favour of the wife due to her greater obligation to care for a child of the marriage. To ensure a just and equitable outcome, the court ordered that the wife discharge the husband's obligations through instalment payments with interest, to overcome the unfairness of her receiving assets tied up in the family company while the husband received tangible, risk-free assets.