Spehar v Spehar

The case of *Spehar v Spehar* concerned a dispute between a husband and wife regarding the division of their matrimonial assets. The matter came before the High Court of Australia on appeal from the Full Federal Court.

The primary legal issue before the High Court was whether the Federal Court had erred in its assessment of the parties' respective contributions to the acquisition, conservation, and improvement of their matrimonial property, and whether it had given sufficient weight to the husband's non-financial contributions. A further issue concerned the proper approach to valuing certain assets, particularly shares in a family company.

The High Court, comprising Hayne and Callinan JJ, found that the Federal Court had failed to adequately consider the husband's significant non-financial contributions, including his role in the establishment and operation of the family business. Their Honours emphasised that contributions are not limited to financial inputs and that the court must take a holistic view of the parties' efforts. The Court also addressed the principles governing the valuation of shares in a proprietary limited company in the context of family law property settlements, noting the importance of considering the company's underlying value and future prospects.

The High Court allowed the appeal, setting aside the orders of the Federal Court and remitting the matter back to the Federal Court for redetermination of the property settlement in accordance with the principles articulated in the judgment.