Stoddard & Glover

This matter concerned property settlement orders made by McClelland J. The parties, a husband and wife, sought to resolve their financial affairs following the breakdown of their marriage. The dispute involved the division of various assets, including real estate, company shares, trust entitlements, and superannuation interests.

The court was required to determine the appropriate distribution of the parties' property and superannuation entitlements. This involved considering the value of each asset and liability, and how these should be allocated between the husband and wife to achieve a just and equitable outcome. The court also had to address the ongoing responsibilities and indemnities related to certain assets and liabilities.

McClelland J applied the principles of the *Family Law Act 1975* (Cth) to achieve a just and equitable division of the parties' property. The court ordered the discharge of all previous property orders and stipulated specific timelines for the transfer of funds and assets. The husband was ordered to pay a sum of money to the wife and transfer a motor vehicle. The wife was required to resign as an officeholder of Stoddard Pty Ltd, transfer her shareholding and any sums due to her from the company to the husband, and was to be indemnified by the husband for her past role as an officeholder. Both parties were to assign their interests in sums due from the Stoddard Family Trust to the husband and the wife was to be removed as a beneficiary. Each party was to retain their respective mortgaged properties, with cross-indemnities for the mortgages. The court also made specific orders regarding the division of superannuation entitlements from the MR & MS Stoddard Superannuation Fund, requiring a reallocation of funds from the husband's entitlement to the wife's, and the removal of the wife as a trustee and member of the fund.

The orders provided for each party to retain all other real and personal property in their ownership, possession, or control, excluding the other party. Liberty was granted to re-list the matter for implementation issues.