FEDERAL CIRCUIT COURT OF AUSTRALIA
| NOAKES & FADDEN | [2016] FCCA 3134 |
| Catchwords: FAMILY LAW – Property – division of assets of modest value – ridiculously small assets ignored for purpose of assessing overall pool. |
| Legislation: Family Law Act 1975, ss.60CC, 75(2), 79(4) |
| Cases cited: AON Risk Services Australia Ltd v Australian National University (2009) |
| Applicant: | MR NOAKES |
| Respondent: | MS FADDEN |
| File Number: | MLC 10377 of 2014 |
| Judgment of: | Judge Wilson |
| Hearing date: | 27 April 2016 |
| Date of Last Submission: | 27 April 2016 |
| Delivered at: | Melbourne |
| Delivered on: | 6 December 2016 |
REPRESENTATION
| Applicant in person |
| Respondent in person |
ORDERS
The balance of the net proceeds of sale currently held on trust by Bardo & Erci Lawyers are applied as follows -
(a)two-thirds of the balance plus two-thirds of the total interest accrued on the balance (if any) to the wife; and
(b)one-third of the balance plus one-third of the total interest accrued on the balance (if any) to the husband,
with such funds to be released to the parties by Bardo & Erci Lawyers within 14 days of the date of these orders.
As described in the reasons for judgment, each party is liable for 50% of the following liabilities –
(a)(omitted) Frequent Flyer credit card;
(b)(omitted) MasterCard;
(c)(omitted) Bank Account;
(d)(omitted) Bank Account credit card;
(e)(omitted) MasterCard;
(f)(omitted) Mastercard; and
(g)(omitted) MasterCard.
As described in the reasons for judgment, the wife is solely liable for the following liabilities –
(a)the (omitted) overdraft;
(b)(omitted) Bank Account credit card;
(c)the debt to (omitted) Accountants;
(d)the legal fees due to Bardo & Erci Lawyers;
(e)(omitted) business car finance;
(f)amount owing to ASIC;
(g)(omitted) Visa credit card;
(h)any liabilities attached to the business (business omitted) and (business omitted).
As described in the reasons for judgment, the husband is solely liable for the (omitted) Bank variable rate loan.
Unless otherwise specified in these orders and save for the purposes of enforcing any monies or transfer of property due under these or any subsequent orders -
(a)each party is solely entitled, to the exclusion of the other, to all other property (including choses-in-action) in the possession of such party as at the date of these orders;
(b)monies standing to the credit of the parties in any bank account are to become the property of the party in whose name such bank account is held;
(c)each party is solely liable for and indemnify the other against any liability in that party’s sole name; and
(d)any joint tenancy of the parties in any real or personal estate is hereby expressly severed.
All extant property applications are dismissed.
IT IS NOTED that publication of this judgment under the pseudonym Noakes & Fadden is approved pursuant to s.121(9)(g) of the Family…
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- Noakes and Fadden [2016] FCCA 3134
- Case
- [2016] FCCA 3134
- Decision Date
CaseChat Overview and Summary
The court was required to determine the appropriate distribution of the net proceeds of sale held by Bardo & Erci Lawyers between the husband and wife. Furthermore, the court needed to ascertain which party would be solely liable for specific debts, and which liabilities would be shared equally between them. The court also had to address the disposition of all other extant property and liabilities not specifically mentioned in the orders.
Judge Wilson ordered that two-thirds of the net proceeds of sale, along with accrued interest, be paid to the wife, and the remaining one-third to the husband. The court also stipulated that the wife would be solely liable for a list of specified debts, including an overdraft, credit card debts, professional fees, business-related finance, and amounts owing to ASIC. The husband was made solely liable for a specific bank loan. Certain other liabilities were to be shared equally between the parties. The orders further provided that each party would be solely entitled to property in their possession, with bank accounts becoming the property of the account holder, and each party indemnifying the other against liabilities in their sole name. Joint tenancies were expressly severed. All outstanding property applications were dismissed.
Orders
Orders of the court
1.
The balance of the net proceeds of sale currently held on trust by Bardo & Erci Lawyers are applied as follows -
(a) two-thirds of the balance plus two-thirds of the total interest accrued on the balance (if any) to the wife; and
(b) one-third of the balance plus one-third of the total interest accrued on the balance (if any) to the husband,
with such funds to be released to the parties by Bardo & Erci Lawyers within 14 days of the date of these orders.
2.
As described in the reasons for judgment, each party is liable for 50% of the following liabilities –
(a) (omitted) Frequent Flyer credit card;
(b) (omitted) MasterCard;
(c) (omitted) Bank Account;
(d) (omitted) Bank Account credit card;
(e) (omitted) MasterCard;
(f) (omitted) Mastercard; and
(g) (omitted) MasterCard.
3.
As described in the reasons for judgment, the wife is solely liable for the following liabilities –
(a) the (omitted) overdraft;
(b) (omitted) Bank Account credit card;
(c) the debt to (omitted) Accountants;
(d) the legal fees due to Bardo & Erci Lawyers;
(e) (omitted) business car finance;
(f) amount owing to ASIC;
(g) (omitted) Visa credit card;
(h) any liabilities attached to the business (business omitted) and (business omitted).
4.
As described in the reasons for judgment, the husband is solely liable for the (omitted) Bank variable rate loan.
5.
Unless otherwise specified in these orders and save for the purposes of enforcing any monies or transfer of property due under these or any subsequent orders -
(a) each party is solely entitled, to the exclusion of the other, to all other property (including choses-in-action) in the possession of such party as at the date of these orders;
(b) monies standing to the credit of the parties in any bank account are to become the property of the party in whose name such bank account is held;
(c) each party is solely liable for and indemnify the other against any liability in that party’s sole name; and
(d) any joint tenancy of the parties in any real or personal estate is hereby expressly severed.
6.
All extant property applications are dismissed.
Background
Background to the litigation
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Evidence
Evidence Before The Court
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Decision
Reasons for decision
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Ratio Decidendi
Legal Principle Established
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