NIKOLOV & NIKOLOV

In the matter of *Nikolov & Nikolov*, Cleary J of the Family Court of Australia made orders concerning the division of property between a husband and wife. The dispute centred on the equitable distribution of assets and liabilities following the breakdown of the marriage.

The court was required to determine the appropriate financial and property adjustments to be made between the parties. This involved considering the existing assets and liabilities of each party, including real estate and superannuation entitlements, and the liabilities associated with those assets.

Cleary J ordered the husband to pay a sum of $215,260 to the wife within sixty days. Additionally, the husband was directed to transfer his interest in a property located at B Street, Suburb C, to the wife within the same timeframe. Pending this transfer, the husband was to discharge the mortgage to Westpac Bank on that property and indemnify the wife against any liability under the mortgage. Each party was to retain their other assets and liabilities, with provisions for mutual indemnification regarding liabilities attached to assets in their possession or standing in their sole name. The court also made provision for the Registrar to execute documents if a party refused to do so, pursuant to section 106A of the *Family Law Act*. A notation specified that the husband had sixty days to remove furniture and white goods from the B Street property.