PELTON & BANBURY

In the matter of *Pelton & Banbury*, heard before Macmillan J, the wife sought the realisation of certain relationship assets, specifically a motor vehicle, a boat, and a jet ski. The husband, however, wished to retain these assets as part of his final property entitlements, albeit at a reduced price. The core of the dispute therefore concerned the immediate disposition of these valuable assets pending the final determination of the property settlement proceedings.

The court was required to determine whether to order the sale of the specified assets at their full market value, as sought by the wife, or to allow the husband to retain them at a reduced valuation as part of his final property division. Additionally, the court considered an application by the husband to reopen submissions that had already been put before it and were subject to determination.

Macmillan J ordered that the motor vehicle, boat, and jet ski be listed for sale at specified prices, with the husband required to deliver them in good working order and clean condition to a nominated sales group by a set date. The proceeds of sale were to be applied first to sale costs and commissions, and then to reduce specific bank debts or be held in a joint account pending further order. The question of the husband's entitlement to retain these assets as part of his property settlement was reserved for trial. The husband's application to reopen submissions was dismissed.