Spoke and Spoke (No. 2)

In *Spoke and Spoke (No. 2)*, Justice Cronin of the Family Court of Australia made orders concerning the property settlement and financial affairs of a married couple. The dispute involved the division of assets, including a property, shareholdings in a company named N Company, and superannuation entitlements, as well as the resolution of outstanding debts and liabilities associated with N Company.

The court was required to determine the terms of a final settlement pursuant to section 79 of the *Family Law Act 1975* (Cth). This involved establishing the specific financial contributions to be made by the husband to the wife, the future use and occupation of a property, the transfer of interests in that property and shareholdings in N Company, and the release of the wife from company liabilities. The court also needed to address the potential sale of the property and liquidation of N Company in the event of default, and the division of any recovered unauthorised expenses.

Justice Cronin's reasoning led to a comprehensive set of orders designed to achieve a final resolution. The husband was ordered to pay a sum of $75,000 to Ask Funding Pty Ltd for the wife, and the wife was granted sole use and occupation of the property until 1 August 2009, provided she continued to reside there. Upon payment and not earlier than 1 August 2009, the wife was to transfer her interest in the property to the husband at his expense. The wife was also to transfer her shareholding in N Company to the husband upon his request. The husband was required to provide the wife with a release from any liability related to N Company by 10 August 2009. In default, the property was to be sold and N Company liquidated, with net proceeds from the property sale to be paid to the wife after company obligations and liquidation costs were discharged. The husband was to gain exclusive occupancy of the property upon payment of the $75,000. Provisions were also made for the equal division of any recovered unauthorised expenses by N Company, subject to prior orders, and for each party to retain their superannuation and personal possessions, with a limited period for agreement on chattels. The wife was also to return a company vehicle to the husband.