Phak & Xu

In the matter of *Phak & Xu*, Benjamin J of the Family Court of Australia considered an application to set aside a financial agreement dated 13 February 2012, entered into between the applicant wife and the respondent husband. The dispute concerned the validity of this financial agreement in the context of substantive property settlement proceedings.

The primary legal issue before the Court was whether the financial agreement dated 13 February 2012 should be set aside. This determination was crucial for the progression of the parties' property settlement proceedings under s 79(1) of the *Family Law Act 1975* (Cth).

Benjamin J ordered that the financial agreement dated 13 February 2012 be set aside. The Court also made directions regarding the costs of the application to set aside the agreement, reserving them pending the determination of the substantive property proceedings. Further directions were issued concerning the filing and service of amended applications, financial statements, and affidavits, as well as the exchange of documents relevant to the property proceedings. The Court also dispensed with a conciliation conference, provided the parties conducted a private mediation, and made provision for the appointment of a single expert to value any unresolved property interests, with fees to be borne equally.