T and W

[2005] FCWA 38

JURISDICTION:

FAMILY COURT OF WESTERN AUSTRALIA

ACT:	FAMILY LAW ACT 1975
LOCATION:	PERTH
CITATION:	T and W [2005] FCWA 38
CORAM:	TOLCON J
HEARD:	29-31 MARCH, 4-6 APRIL 2005
DELIVERED:	6 APRIL 2005
PUBLISHED:	19 APRIL 2005
FILE NO/S:	PT 1032 of 2004
BETWEEN:	T

Applicant/Wife

AND

W
Respondent/Father

Catchwords:

Property settlement - Husband not open and frank about his overseas assets - Husband's failure to provide information about his financial affairs - Husband acknowledged he had breached Undertaking to Court in that regard - Wife left with burden of settling parties' substantial debts

Legislation:

Family Law Act 1975 s 75(2), s 79

Category: Not Reportable

Representation:
Counsel:

Applicant:	Mr Dowding, SC
Respondent:	Mr Culshaw

Solicitors:

Applicant:	Holden Barlow
Respondent:	Marks & Sands

Case(s) referred to in judgment(s):

Hickey and Hickey and A-G for the Commonwealth of Australia (2003)

FLC 93-14

1 Before the Court for determination is the applicant wife’s Form 3 Application filed 24 February 2004 seeking orders in relation to property settlement. On 10 February 2005 the wife was given leave, by consent, to amend her application to seek orders that the husband pay to her spousal maintenance.

2 The husband filed his Form 1A Response on 5 April 2004.

3 At trial the following orders were sought:

(a) By the Wife –

“1.

The wife be appointed trustee for sale to do all things necessary and sign all necessary documents for -

(a)	The sale of the property, (“the matrimonial home”) being the whole of the land contained in Certificate of Title Volume… Folio … as soon as practicable after it has been completed. Until the completion the wife have sole occupancy thereof.
(b)	The sale of the share in SG Pty Ltd (W Trust shares).

2.

From the net proceeds of sale of the matrimonial home the wife –

(a)	pay agents commissions
(b)	pay expenses of sale
(c)	discharge mortgage … known as the business loan to Bankwest
(d)	discharge overdraft facility with Bankwest in account number …
(e)	discharge GST liability on the sale of the Nissan, $5,581.14
(f)	discharge Esanda loan for Blue BMW $16,000
(g)	discharge the debt to Mrs H in the sum of $66,000
(h)	pay expenses in relation to discharge of debts

with the balance to be paid to the wife.

3.

From the net proceeds of sale of the shares in the W Trust the wife pay -

(a)	accountants fees in relation to the assessment of the tax liability upon the sale of the shares of the Trust
(b)	taxation liability on the sale

and the balance to the husband.

4.

The wife do all things to renounce her interest as the beneficiary of the W Trust (“the trust”) and transfer to the husband her shareholding in the company O Pty Ltd, B Pty Ltd to the husband’s nominee and resign as a director of those companies.

5.

The husband indemnify the wife in relation to any liability in relation to the trust and the wife vest any interest she may have in the W Family Trust, contents and chattels in the husband’s possession.

6.

The husband cause to be transferred to the wife the BMW motor vehicle 1995 model, and the wife indemnify the husband in relation to the outstanding loan to Esanda.

7.

The husband vest in the wife any interest he may have in contents and chattels in the property at the matrimonial home.

8.

The husband indemnify the wife in relation to:

(a)	Bankwest credit card …
(b)	Telstra account ….
(c)	National Bank Visa Card …

9.

The wife indemnify the husband in relation to:

(a)	Bankwest credit card …
(b)	David Jones credit card ….
(c)	Virgin credit card ….

10.

The husband pay the wife’s costs from the date 24 February 2004 on an indemnity basis.”

(b) By the Husband –

“1.

That the parties do all such acts and things and sign all such documents as are necessary to effect the sale of the matrimonial property;

2.

That upon completion of the sale of the matrimonial property the proceeds of sale be applied as follows:

2.1	To pay all costs, commissions and expenses of the sale and to pay any council and water rates and maintenance levies outstanding in respect of the real property;
2.2	To discharge the registered mortgages number … and … (the registered mortgages);
2.3	To pay the sum of $182,000 to the overdraft facility with Bankwest account number … in the name of the wife (the overdraft) being the amount that is Agreed by the husband to be a joint debt;
2.4	To pay the tax liability of the husband in the approximate sum of $14,000;
2.5	To pay the Bankwest visa card number …. in the approximate sum of $10,000.00;
2.6	To pay the National Australia Bank Mastercard number … in the name of the husband in the approximate sum of $10,000.00;
2.7	To pay the GST liability on the sale of the Nissan in the approximate sum of $5,581.00;
2.8	the balance then remaining to be divided equally between the parties, with the balance of the overdraft to be paid from the wife’s share of the net proceeds.

3.

That pending the sale of the matrimonial property the wife be liable for and indemnify the respondent with respect to the registered mortgages and any rates, taxes and outgoings of or with respect to the real property.

4.

That the parties forthwith do all such acts and things and sign all such documents as are necessary to effect the sale of the shares in SG Pty Ltd.

5.

That upon completion of the sale of the shares in SG the proceeds of the sale be applied as follows:

5.1	to pay all costs, commissions and expenses of the sale including any tax liability on the sale;
5.2	the balance then remaining to be divided equally between the parties.

6.

That the husband do all such acts and things and sign all such documents as are necessary to resign –

6.1	as a trustee of the W Trust (the Trust)
6.2	as a director of O
6.3	as a director of B

7.

That any interest the husband may have as a beneficiary in the Trust vest in the wife and that the wife do pay and indemnify the husband against any liability the husband may have as a beneficiary of the Trust including but not limited to any tax liability save and except for any tax liability from the sale of SG pursuant to paragraph 4 herein.

8.

That the husband transfer and assign to the wife or such other person as the wife may direct the whole of his shareholding and any other entitlements in Oe and B.

9.

That the wife do all such acts and things as are necessary and sign all such documents as may be required to transfer and assign to the husband all her right title and interest if any in –

9.1	Subaru motor vehicle usually in the power possession and control of the husband;
9.2	the items listed in Schedule A annexed hereto situated at the real property (the agreed items)
9.3	the furnishings and chattels situated at the husband’s residence overseas;
9.4	all items of personal property in the power possession and control of the husband;
9.5	save as otherwise specified in these orders monies standing to the credit of the husband in any bank or financial institution;
9.6	the interest of the husband and all benefits arising from his membership of any superannuation fund.

10.

The husband do all such acts and sign all documents as may be required to transfer and assign to the wife all his right title and interest, if any, in –

10.1	1995 BMW motor vehicle usually in the power possession and control of the wife;
10.2	2000 BMW motor vehicle usually in the power possession and control of the wife;
10.3	Save for the agreed items, the furnishings and chattels situated at the real property;
10.4	all items of personal property in the power possession and control of the wife;
10.5	save as otherwise specified in these orders monies standing to the credit of the wife in any bank or financial institution;
10.6	the interest of the wife and all benefits arising from her membership of any superannuation fund.

11.

The wife indemnify the husband against any liability in relation to:

11.1	Bankwest credit card … in the wife’s name;
11.2	David Jones credit card … in the wife’s name;
11.3	Virgin credit card … in the wife’s name;
11.4	All instalments due to Esanda or any other credit provider in relation to the monies loaned for the 1995 BMW and the 2000 BMW referred to in paragraph 10 herein;
11.5	Any monies owed to the wife’s mother;
11.6	Any monies owed to the wife’s daughter AT;
11.7	Any monies owed to the wife’s son ST; and
11.8	Save as otherwise specified in these orders any monies owed pursuant to the overdraft facility with Bankwest account number ….”

At trial the wife abandoned her application for spousal

maintenance.

By way of background

4 The Parties –

. Commenced to cohabit in late 1989 or early 1991. The parties had formed a close relationship by 1989 and in 1990 they were renting a house in the northern suburbs (see paragraphs 9 to 11 of the wife’s affidavit).

The husband stated that cohabitation commenced in the month of April 1991. He claimed that he had not separated from his former wife until 30 June 1990 (see paragraph 9 of his affidavit). On 19 November 1990 the husband was registered as the proprietor of land at in another suburb. His address was given as at the northern suburbs address. On 27 November 1991 that land was transferred to the parties, their address being the northern suburbs address (see Exhibit 2).

The evidence satisfied me that the parties had formed a close relationship by 1989 and had commenced to cohabit in late 1989/early 1990.

.	Married June 1992
.	During their marriage, worked together in various business enterprises
.	Separated October 2002 when the husband flew overseas
.	Marriage was dissolved on 29 August 2004.

5 The Wife -

.	Born February 1951 and is aged 54 years
.	Has held various administrative positions
.	After separation was employed on a full time basis as accounts manager. She ceased employment in about June 2004
.	Is currently not working and is in receipt of New Start Allowance of $151 per week
.	Suffers from depression and anxiety as a result of the marriage breakdown and is not able to obtain employment (see the evidence of Dr Kheng Chiang Si)
.	In correspondence with her banker, the wife stated that there was prospect of her obtaining employment with a friend in late 2004. In her trial affidavit, the wife made no mention of her employment prospects in late 2004. Having had the opportunity of perusing the wife’s emails with her bankers, particularly Exhibit 13, and having regard to Dr Kheng Chiang Si’s evidence and in particular his oral evidence that the wife was not well enough to work, and the wife’s oral evidence that she was taking prescribed medication and needed financial assistance from her bankers, I accept that the employment from her friend did not eventuate and that she was not in a position to obtain employment as at the date of filing her trial affidavit
.	Was previously married and has two children, both of whom are over the age of 18 years. Those children resided with the parties until they became independent. The wife’s daughter stated in evidence that she regarded the husband as her father.

6 The Husband -

.	Born August 1943 and is currently 61 years of age
.	Has been previously married and there are three children from his second marriage, all of whom are over the age of 18 years
.	From the date of cohabitation until 1998, worked for ABB. Thereafter was involved with the wife in various investments
.	Since separation has been in receipt of social security benefits and claims that it is unlikely he will return to employment due to his age. In cross examination he stated that he had worked for his brother but did not receive payment for his services

He holds an electrician’s licence but claims he is not qualified to work overseas. Once these proceedings are finalised, he wishes to acquire and operate a small business

. Resides with Ms C overseas.

7 The husband’s evidence in relation to his financial affairs in overseas and his relationship with Ms C was unsatisfactory. His Statements of Financial Affairs (Forms 13, sworn 10 November 2004 and 30 March 2005) were inaccurate, incomplete and misleading. Generally the husband was unco-operative and reluctant to produce or make available documentation and the like in relation to his financial affairs. I was not prepared to accept his evidence unless it was corroborated and where it was in conflict with that of the wife, I preferred her evidence. The husband acknowledged that he had breached his undertaking to the court (see Exhibit 21).

8 There is an obligation on parties to make a full and frank disclosure of their financial affairs and where, as in this case, the husband has deliberately failed to make a full and frank disclosure of his financial affairs and breached his undertaking (Exhibit 21), it is open to me to take a broadbrush approach when considering the evidence and to not be unduly cautious about making findings in favour of the wife.

Assets at commencement of cohabitation

9 The parties had settled their financial affairs with their previous spouses. The wife’s settlement was $75,000, plus furniture. In addition, she had $10,000 cash and an unencumbered European motor vehicle (Audi).

10 The husband received approximately $35,000 from his property settlement but claimed he had superannuation entitlements and in 1998 the superannuation payout was $218,000 plus leave entitlements of $63,000. It was submitted on behalf of the husband that the husband’s superannuation entitlements were substantial as in 1992 they amounted to $62,708.02 (see Exhibit 17). I am not in a position to calculate the value as at date of commencement of cohabitation but in any event the moneys were not available to the parties.

11 For the purposes of these proceedings I was satisfied that the wife’s initial financial contributions were greater than those of the husband.

12 Both parties were in employment and during the marriage the husband claimed that his earnings totalled $616,248 and the wife’s totalled $318,129 (see paragraphs 23 to 25 of the husband’s trial affidavit). The husband did not disclose –

.	what his earnings were nor those of the wife for the period 1 July 2000 to date of separation;
.	the use of trust and company structures whereby the wife’s income was distributed to the parties to effectively minimise income tax.

13 During the marriage the parties had acquired –

(i) real estate in the northern suburbs and the matrimonial home

(ii) an interest in a number of business ventures, the details of which are set out in the trial affidavits.

14 The parties encountered difficulties in their marriage, no doubt as a result of their involvement in their various business ventures and with the construction and alterations made to the matrimonial home. In addition the evidence satisfied me that in the months before separation, the husband had commenced a relationship with Ms C.

15 I accept the wife’s evidence that it was her wish that the husband spend time with her in the country. I do not accept the evidence of the husband that he was actively involved in supervising the alterations being made to the matrimonial home and could not spend time with the wife in the country.

16 The events leading up to the date of separation satisfied me that the husband had planned to leave the wife and relocate to overseas and reside with Ms C and in doing so, surreptitiously –

.	received his superannuation entitlements and later banked them in an account overseas in the amount of $16,624
.	sold his motor vehicle
.	removed his personal effects and chattels from the matrimonial home and had them shipped overseas as unaccompanied luggage and in addition stored furniture with a neighbour
.	removed cash from the parties’ bank account and the W Trust Account totalling $34,273

In addition, the husband had withdrawn moneys from ATMs, claiming that those moneys were building expenses. In his oral evidence he endeavoured to persuade me those moneys were utilised to meet building expenses on the matrimonial home. The evidence in this regard was unsatisfactory. However, having regard to –

.	Prior to May 2002 the parties met weekly and recorded expenses incurred;
.	After May 2002 the husband failed to continue that practice and ignored the wife’s request to formally meet and record expenditures;
.	Husband’s relationship with Ms C;
.	Husband’s subsequent removal of funds from Australia and investment of those funds overseas;
.	Husband’s lack of candour with respect to his relationship with Ms C and his financial affairs in Overseas;
.	Statements made by husband to Australian Bureau of Statistics;
.	Wife’s inability to reconcile the cash money removed from the ATM by the husband;
.	Costs of renovations had increased from $180,000 as budget to costs exceeding $473,000, the husband purporting to supervise the work

it is open to me to infer, and I do, that the husband has used those funds for his own purposes and I propose taking into account the sum of $69,170 as an add-back, being moneys received by the husband.

17 The wife was unaware of the husband’s relationship with Ms C. The husband left the wife, and it is open to me to infer and I do, in order to commence a relationship with Ms C overseas. In doing so, he left the wife with the burden of completing the matrimonial house, settling the substantial debts of the parties to builders and sub-contractors, arranging finance to meet their commitments, which in itself placed further pressure on the wife’s health and general well-being. In addition, the husband neglected his obligations under the Liquor Act.

18 The husband’s father died overseas on or about 6 May 2000. Probate of his Will was granted on 25 July 2000 (see Exhibit 1).

19 The husband was an executor of his father’s Will and a residuary beneficiary. The husband failed to make a full disclosure of his interest in his father’s estate and of his investments and financial affairs and could have obtained and provided to this court all relevant information regarding his father’s estate. The evidence satisfied me that the husband was well aware of the financial position of his father’s estate and his entitlement thereto. It is open to me to infer, and I do, that the husband has entered into a financial arrangement with the beneficiaries of his father’s estate and has received his entitlement, or part thereof and has utilised that in acquiring the house where he new resides.

20 The evidence satisfied me that the husband was not open and

frank about –

.	his interest in a unit, overseas
.	his arrangement with members of his family to utilise moneys from his father’s estate
.	the work carried out by him overseas; in cross- examination he stated he worked for his brother on an unpaid basis
.	the utilisation of a bank account in which he purported to pay rent to his father’s estate.

21 The husband could have called evidence from overseas to clarify his financial interests in overseas, but he did not and instead, chose only to disclose matters when pressed. I draw the inference that the husband has assets overseas of significant value, but which I am unable to quantify, save that the unit in which he resides, has a value of in excess of $250,000. I propose having regard to the husband’s interests overseas when I consider the Section 75(2) factors.

22 Section 79 of the Family Law Act provides as follows:

"(1)

In proceedings with respect to the property of the parties to a marriage ...the Court may make such order as it considers appropriate altering the interests of the parties in the property, ... including an order requiring either or both of the parties to make, for the benefit of either or both of the parties ... such settlement or transfer of property as the Court determines.

(2)

The Court shall not make an order under this Section unless it is satisfied that in all the circumstances, it is just and equitable to make the order.

(3) ...

(4)

In considering what order (if any) should be made under this Section in proceedings with respect to any property of the parties to a marriage or either of them, the Court shall take into account -

(a)	the financial contribution made directly or indirectly by or on behalf of a party to the marriage or a child of the marriage to the acquisition, conservation or improvement of any of the property of the parties to the marriage or either of them, or otherwise in relation to any of that last-mentioned property, whether or not that last-mentioned property has, since the making of the contribution, ceased to be the property of the parties to the marriage or either of them;
(b)	the contribution (other than a financial contribution) made directly or indirectly by or on behalf of a party to the marriage or a child of the marriage to the acquisition, conservation or improvement of any of the property of the parties to the marriage or either of them, or otherwise in relation to any of that last-mentioned property, whether or not that last-mentioned property has, since the making of the contribution, ceased to be the property of the parties to the marriage or either of them;
(c)	the contribution made by a party to the marriage to the welfare of the family constituted by the parties to the marriage and any children of the marriage, including any contribution made in the capacity of homemaker or parent;
(d)	the effect of any proposed order upon the earning capacity of either party to the marriage;
(e)	the matters referred to in sub-section 75(2) so far as they are relevant;
(f)	any other order made under this Act affecting a party to the marriage or a child of the marriage; and
(g)	any other order made under the Child Support (Assessment) Act 1989 that a party to the marriage has provided, or is to provide, for a child of the marriage."

The approach to be taken when considering an application pursuant to section 79 of the Family Law Act 1975 is set out in Hickey and Hickey and A-G for the Commonwealth of Australia (2003) FLC 93-14, where at page 78,386 their Honours had this to say:

“The case law reveals that there is a preferred approach to the determination of an application brought pursuant to the provisions of s. 79. That approach involves four inter- related steps. Firstly, the Court should make findings as to the identity and value of the property, liabilities and financial resources of the parties at the date of the hearing. Secondly, the Court should identify and assess the contributions of the parties within the meaning of ss. 79(4)(a), (b) and (c) and determine the contribution based entitlements of the parties expressed as a percentage of the net value of the property of the parties. Thirdly, the Court should identify and assess the relevant matters referred to in ss. 79(4)(d), (e), (f) and (g), (''the other factors'') including, because of s. 79(4)(e), the matters referred to in s. 75(2) so far as they are relevant and determine the adjustment (if any) that should be made to the contribution based entitlements of the parties established at step two. Fourthly, the Court should consider the effect of those findings and determination and resolve what order is just and equitable in all the circumstances of the case.”

Assets and liabilities as at date of trial

23 At separation, the wife was left with the burden of meeting the parties’ financial commitments and there was a need to meet those obligations from available funds and assets. Therefore I do not propose taking into account the proceeds of sale of the wife’s D shares, nor moneys spent by her post-separation, nor the funds left in the account.

24 For the purposes of these proceedings, the pool of assets and liabilities is as follows:

Assets

The matrimonial home (to be sold)	$1,300,000.0
(1/7th share) property (to be sold)	E$400,000.00
Husband’s Subaru Sedan	16,000.00
Wife’s Superannuation	14,165.00
Wife’s ANZ Bank Account	16,000.00
Total Assets:	$1,746,165.00
Add Backs
Husband’s paid legal fees	21,117.00
Mining shares sold by husband	9,000.00
Husband’s AMP Superannuation taken by him	16,624.00
Funds taken by husband from Trust A/c	34,273.00
Cash removed by husband 10/7/01 to 16/10/02	69,170.00
Wife’s paid legal fees	39,000.00
Total Add Backs:	$189.184.00
Liabilities
Husband’s outstanding income tax	14,000.00
Overdaft taken out by wife December 2002	250,000.00
Bankwest credit card (Joint)	10,000.00
National Bank credit card (Joint)	10,000.00
Bankwest credit card (Wife)	$10,000.00
David Jones credit card (Wife)	8,000.00
10,000.00
Virgin Credit Card (Wife)
Business loan	201,000.00
Invoices from Builder Unpaid	6,775.00
Balance to pay builder	15,000.00
Loan from wife’s mother	35,000.00
GST on sale of Nissan Patrol	5,581.00
Funds to be paid to SG Pty Ltd	20,000.00
Total Liabilities:	$595,356.00

Net Assets:  $1,339,993.00

Contributions

25 It is not my intention to deal with the manner by which the parties acquired and developed their various financial interests. It is well documented and in general the parties are in agreement. What did emerge from the evidence is –

.	prior to the date of separation, the wife has made a substantially greater initial financial contribution than the husband;
.	throughout the marriage the wife has been in employment and on occasions held three positions at the same time, and her income and financial contribution were greater than as set out in paragraph 23 of the husband’s affidavit;
.	the wife has received monies from her mother (over and above the $35,000 I have provided for) amounting to approximately $15,000;
.	for his part, the husband has earned substantial income and in addition has made a contribution from his superannuation and leave entitlements;
.	after his retirement the husband was involved in the various business interests of the parties and renovation of the matrimonial home;
.	the parties made an equal contribution as home- makers.

26 When I balance the parties’ contributions to the date of separation, I would regard them as being equal.

Post-separation contributions

27 When I consider –

.	the wife was left with the burden of finalising the renovations to the matrimonial home;
.	the wife had to raise finance to meet the parties’ commitments;
.	the wife’s income was utilised to met some of the parties’ expenses;
.	the husband’s removal of moneys from the parties’ account at a time when it was necessary to meet their commitments;

it is open to me to infer from the evidence, and I do, that as a result of the husband leaving the wife and the additional pressure put on her to handle the parties’ financial interests in Western Australia, that her health deteriorated. Had the wife not taken over the burden of managing the financial matters and the renovations to the matrimonial home the result may well have been that the parties’ assets in Western Australia were substantially less than what they are today. It is because of the wife’s substantial post-separation contributions that I would assess their respective contributions as 60% for the part of the wife and 40% for the part of the husband.

Section 75(2) factors

28 The Wife –

. Is currently unable to work as a result of her health and is on prescribed medication. However, once these proceedings are finalised, I have every confidence that given time to settle, she will return to the workforce and be able to earn income to support herself, as she has done in the past.

29 The Husband -

.	Claims that he has retired, however he has worked overseas and proposes to acquire a small business. Once these proceedings are completed, I was satisfied he has the capacity to earn income and will do so.
.	Has a permanent relationship with Ms C but I was unable to ascertain with any confidence their financial arrangements.
.	As previously mentioned, the husband has financial interests overseas. The husband’s conduct in these proceedings, and in particular his failure to provide relevant financial information about his financial affairs overseas, leads me to conclude that his interests there are substantial.

30 When I balance the factors that I must and in particular having regard to the fact that the husband has not been open and frank about his financial affairs, nor his relationship with Ms C and her financial contribution, I would readjust the wife’s entitlement from 60% to 70%.

Section 79(4)(d)

31 I have considered the provisions of Section 79(4)(d) and the orders I propose making will not have an adverse effect on the earning capacity of the parties.

32 It would be just and equitable in the circumstances of this case and proper to make the following orders:

1. The property known as …(“the matrimonial home “) being the whole of the land contained in Certificate of Title volume …, Folio … be placed on the market for sale. Until the completion of the sale the wife have sole occupancy of the matrimonial home.

2. From the net proceeds of sale of the matrimonial home, the following payments be made:

(a)	Agents’ commissions
(b)	Expenses of sale
(c)	Discharge mortgage …. and …. known as the business loan to Bankwest
(d)	Discharge overdraft facility with bankwest in account number …………..
(e)	Discharge GST liability on the sale of the Nissan, $5,581.14
(f)	Discharge debt to Mrs H in the sum of $35,000
(g)	any costs or expenses in relation to discharge of debts
(h)	Husband’s tax liability of $14,000
(i)	Bankwest and NAB Credit card debts totalling $20,000
(j)	An amount of $26,000 to be held back to cover insurances on the matrimonial property, with any surplus to be divided.
(k)	The balance be divided 70% to the wife and 30% to the husband, and from the husband’s share the sum of $105,129 be paid to the wife.

3. The share in S G Pty Ltd (“the company”) in the name of the W Trust (“the trust’) be offered for sale pursuant to the constitution of the company and the husband and wife do all things necessary to effect a sale.

4. From the net proceeds of sale of the share in the company the proceeds be paid as follows:

(a)	Accountant’s fees in relation to the assessment of the tax liability upon the sale of the Trust;
(b)	Taxation liability on the sale
(c)	Only the beneficiary loans of the Trust payable to third parties
(d)	Such costs and expenses of winding up the companies referred to in paragraph 5 hereof.
(e)	The balance be divided as to 70% to the wife and 30% to the husband.

5. Upon the sale of the share referred to in paragraph 5 the husband and wife do all things to wind up and/or vest the W Trust as they may agree.

6. The parties do all acts and things and sign all documents to wind up O Pty Ltd and B Pty Ltd.

7. The husband vest in the wife any interest he may have in contents and chattels in the property at the matrimonial home or in her possession or control save for

.	Retirement Decanter
.	Bronze Statue of flower girl
.	One of the two Antique Sideboards

8. The wife vest in the husband any interest she may have in contents and chattels in his possession or control.

9. The husband indemnify the wife in relation to Telstra account …..

10. The wife indemnify the husband in relation to

(a) Bankwest credit card …..

(b) David Jones credit card ….;
and

(c) Virgin credit card …..

11. There be liberty to apply with respect to the implementation of these orders.

Costs
12.	Husband to pay wife’s costs, fixed in the sum of $40,000, to be deducted from his share of proceeds of sale of the former matrimonial home.

I certify that the preceding [32] paragraphs are a true copy of the reasons

for

judgment delivered by this Honourable Court

Associate