PANAGAKOS & PANAGAKOS

In the matter of *Panagakos & Panagakos*, Stevenson J of the Supreme Court of New South Wales was required to determine the final property settlement between the parties in their marriage dissolution proceedings. The dispute concerned the division of assets, including real estate and a company directorship, and the associated financial obligations.

The court was tasked with determining the appropriate distribution of the parties' property interests, specifically addressing the wife's interest in a property located at A Street, Suburb B, New South Wales, and the husband's shareholding and directorship in C Pty Ltd. The court also needed to consider the financial implications of these transfers and the indemnification of the husband against liabilities related to the company.

Stevenson J ordered that the husband pay the wife a sum of $748,000. Simultaneously with this payment, the wife was to transfer her interest in the A Street property to the husband. The court further declared that each party was solely entitled to all other property and superannuation in their respective possession and control. Additionally, within 21 days, the husband was to transfer his shareholding in C Pty Ltd to the wife or her nominee and resign as a director, with the wife indemnifying the husband against all liabilities arising from his former positions with the company.