Pezarro and Pezarro

The decision in *Pezarro and Pezarro* concerned a dispute between a husband and wife regarding the division of their property and financial resources. The matter came before the court for final orders to be made.

The court was required to determine the appropriate distribution of the parties' assets, including real estate and superannuation entitlements, and to address the allocation of debts and liabilities. A key issue was the treatment of a financial agreement previously entered into by the parties, and the court needed to decide whether to uphold or set aside this agreement.

The court ordered the husband to pay a specific sum to the wife by a set date, failing which the property at T was to be sold. The proceeds of the sale were to be applied first to the costs of sale, then to discharge a mortgage, and then to cover any capital gains tax liability, with the calculation of which the husband was to arrange. The net proceeds, after these deductions, were to be divided, with the wife receiving 35 per cent. The court also made orders concerning the husband's Military Superannuation and Benefits Scheme (MSBS), entitling the wife to 22 per cent of certain payments from the scheme. Furthermore, the court declared the husband solely liable for a debt to an intervenor and ordered mutual indemnities between the parties for various other debts. The financial agreement of 8 June 2006 was set aside.