SHARPE & SHARPE

Watts J of the Family Court of Australia made orders concerning the property settlement between the husband and wife in the matter of *Sharpe & Sharpe*. The dispute concerned the division of assets and liabilities between the parties.

The court was required to determine the appropriate property settlement orders pursuant to section 79 of the *Family Law Act 1975* (Cth). This involved determining the entitlements of each party to various assets and liabilities, including a monetary payment from the husband to the wife, the transfer of specific personal property, and the allocation of responsibility for existing debts and potential future claims.

The court ordered the husband to pay the wife a sum of $287,816.00 within 60 days. Additionally, the husband was directed to deliver to the wife a Bose audio system, a used fishing rod with pink line, and her university textbooks and jackets. The orders stipulated that, save for the specific provisions made, each party was solely entitled to their respective assets and released each other from all debts owed between them. The husband was to indemnify the wife against any liabilities in his name, and the wife was to indemnify the husband against any liabilities in her name. Provisions were also made for the sale of property by associated companies should the husband fail to make the ordered payment, with the proceeds to be distributed accordingly. The Registrar was appointed to execute documents if either party refused to do so.