Stone and Stone

In *Stone and Stone*, heard by Justice Fowler, the dispute concerned property settlement and the enforcement of a financial agreement between a husband and wife. The court was required to determine the quantum of property settlement payable by the husband to the wife, the validity and enforcement of a financial agreement, and the division of various assets including real property and superannuation interests. The court also considered an application regarding child support.

The court's reasoning involved assessing the parties' financial circumstances and applying the principles of property settlement under the *Family Law Act 1975* (Cth). Crucially, the court declared a financial agreement dated 23 December 2003 to be a valid financial agreement under s 90C of the Act and made orders for its enforcement under s 90G. The court also made specific orders regarding the sale of various properties to satisfy the husband's obligations, the transfer of shareholdings, and the division of superannuation interests.

The court ordered the husband to pay the wife a total sum of $1,670,435 by way of property settlement, plus a further $25,110 owing under the financial agreement, and $4,400 for expert fees. In default of payment, the wife was appointed trustee and attorney for the sale of specified properties to satisfy these obligations. The wife was also ordered to transfer her shareholding in X Holdings Pty Limited to the husband upon his payment. The court also made orders regarding the wife's superannuation interests in X Superannuation Fund, entitling the husband to 100% of splittable payments. The wife's application for child support was dismissed. Provisions were also made for a Registrar to give effect to the orders in the event of a party's default.