STEWARDSON & STEWARDSON

In the matter of STEWARDSON & STEWARDSON, Austin J of the Family Court of Australia determined property settlement and spousal maintenance orders between the husband and wife. The dispute concerned the division of the matrimonial asset pool, which included the former matrimonial home, business debts of the husband, outstanding fees owed to the husband, and the parties' respective superannuation interests. Both parties had also received significant inheritances.

The court was required to determine how to treat the husband's business debts and outstanding fees within the matrimonial pool, how to value and divide the parties' superannuation interests, and to make just and equitable orders for property settlement and spousal maintenance, considering the parties' respective contributions, the wife's ill-health and lack of income-earning capacity, and the husband's high income. The court also had to consider an entitlement for the wife to ongoing medical expenses from a trust fund established by her late father.

Austin J found that the parties' overall contributions to the marriage were equal, despite the husband being the primary income earner and the wife being the primary homemaker and carer for the children. The court noted that the wife's initial contribution was superior, and while the husband's contributions were superior post-separation, their overall entitlements based on contribution were equal. However, an adjustment in favour of the wife was warranted due to the significant differential in income capacity, her disability pension and lack of earning capacity, and the husband's high income. The court also ordered the husband to pay spousal maintenance to the wife until the sale of the former matrimonial home.

The court ordered the immediate listing of the former matrimonial home for sale, with specific provisions for private treaty and auction if necessary. Upon sale, proceeds were to be applied to sale costs, outstanding rates and levies, encumbrances including a mortgage and overdraft, a specific sum to the wife, and then the balance divided with 61.28% to the wife and the remainder to the husband. The wife was to continue to maintain the property pending sale. The husband was declared the sole owner of E Pty Ltd shareholdings, and the wife was to resign from any positions within the company. Other assets and debts were to remain with the party in possession or in whose name they were held. The husband was ordered to pay the wife $536 per week in spousal maintenance until the property sale. The Registrar was empowered to execute documents if a party refused to do so. Costs were reserved.