Rabino & Rainsford (No 3)

This matter concerned property settlement proceedings between Ms Rabino (the applicant wife) and Mr Rainsford (the respondent husband) before Baumann J of the Family Court of Australia. The dispute centred on the division of the parties' assets and liabilities, including real property, superannuation interests, and various financial accounts and entities.

The court was required to determine the specific terms of the final property orders, including the allocation of the Suburb S property, the refinancing or sale of associated loans, the division of severance payments, and the distribution of various other assets and liabilities. The orders also addressed the transfer of interests in legal entities and the splitting of superannuation entitlements pursuant to the Family Law Act 1975 (Cth).

Baumann J made detailed orders consistent with earlier Reasons for Judgment. These orders provided for the transfer of the Suburb S property to the wife, with her to be responsible for refinancing the associated Westpac loans. In the event of a failure to refinance, the property was to be sold, with specific provisions for the listing, sale, and distribution of proceeds, including a fixed sum to the wife and a percentage split of the balance. The orders also stipulated the retention of various assets and liabilities by each party, including specific bank accounts, motor vehicles, and superannuation interests, and provided for a superannuation split of the husband's interest in the BB Super Trust. Further orders addressed the distribution of a severance payment received by the husband and the wife's relinquishment of interests in the Rainsford Group.

The court also made orders regarding the husband's sole responsibility for certain loans and the wife's sole responsibility for others. Provisions were included for the closure of joint bank accounts, with the balances to be received by the wife. The orders further detailed the process for the superannuation split, including the operative time and the obligations of the trustee of the BB Super Trust. Finally, the court made orders concerning the distribution of the husband's severance payment, including a restraint on a portion of it pending the determination of costs, and set directions for the filing of submissions regarding costs.