SAUNDERS & SAUNDERS

This matter concerned property adjustment orders between the applicant, Saunders, and the respondent, Saunders, in the Family Court of Australia. The primary dispute revolved around the date of separation and the proper valuation and distribution of the parties' net assets, which were valued at $189,231.00, excluding a property referred to as Property A. A significant issue was the lack of full financial disclosure by both parties. The husband sought an "addback" for jewellery disposed of by the wife post-separation, while the wife alleged family violence by the husband, arguing it made her contributions more arduous.

The court was required to determine the date of separation, whether the dissipated jewellery should be treated as an "addback" to the asset pool, and how to achieve a just and equitable distribution of the parties' property, considering their initial contributions and the impact of family violence. The court also had to address the valuation and sale of Property A, which was a substantial asset.

Judge Harper found that while the husband had made greater initial contributions, the wife's contributions were made more arduous due to the husband's conduct. The court was not satisfied that justice and equity required the dissipated jewellery to be added back to the asset pool, instead taking this dissipation into account as a factor under section 75(2) of the Family Law Act 1975 (Cth). The court ordered the applicant to pay the respondent a sum of $500,316 within 42 days, or alternatively, an amount calculated by a specified formula if the parties agreed on a value for Property A. In default, Property A was to be listed for sale by public auction, with detailed provisions for the sale process and disbursement of proceeds. The applicant was also ordered to transfer 50 ordinary shares in B Pty Limited to the respondent. The court also noted the parties' agreement to release their rights to make applications in relation to each other's estates under family provision legislation.