Reua & Reua and Anor

The proceeding before Stevenson J concerned a dispute between a trustee and a wife, and the husband. The core of the disagreement involved the distribution of proceeds from the sale of several properties located in New South Wales.

The court was tasked with determining how the net proceeds from the sale of the C Street, T Street, and G Street properties should be divided between the trustee and the wife, and how any funds held on trust pending the proceedings should be distributed. Additionally, the court needed to address a specific payment obligation from the wife to the husband.

Stevenson J ordered that the trustee and the wife were to complete the sale of the specified properties. The net proceeds, after deducting secured debts and selling costs, were to be divided equally, with 50% allocated to the trustee and the remaining 50% to the wife. Similarly, any money held on trust pending the proceedings was to be distributed on a 50/50 basis between the trustee and the wife. Furthermore, the wife was ordered to pay the husband the sum of $118,892 within 28 days of receiving her share of the property sale proceeds.