Teasdale and Teasdale

FEDERAL CIRCUIT COURT OF AUSTRALIA

TEASDALE & TEASDALE [2017] FCCA 986

Catchwords:
FAMILY LAW – Wife’s application for order releasing trust monies representing proceeds of sale of property transferred to wife under binding financial agreement – husband opposes order having extant applications to set aside Binding Financial Agreement, and if successful then property adjustment application – orders made having effect of preserving trust monies pending hearing of husband’s extant applications, but releasing certain trust monies by consent of husband.

Legislation:

Family Law Act 1975, ss.34, 71A, 90, 90C, 90KA, 114

Cases cited:

Black & Black (2008) 38 FamLR 503
Teh & Muir [2015] FamCAFC 224

Applicant: MS TEASDALE

Respondent: MR TEASDALE

File Number: PAC 3041 of 2013

Judgment of: Judge Newbrun

Hearing date: 20 October 2016

Date of Last Submission: 6 February 2017

Delivered at: Parramatta

Delivered on: 19 May 2017

REPRESENTATION

Counsel for the Applicant: Mr Battley

Solicitors for the Applicant: Team Legal Group

Solicitors for the Respondent: Michael Vassili Barristers & Solicitors

ORDERS

1. The wife be forthwith permitted to withdraw $45,000, from the Controlled Monies Account ((omitted)), held in trust for the parties by the wife’s solicitor, but otherwise the wife’s application in a case filed 17 October 2016 is dismissed.

2. Costs of the parties are reserved, in relation to the wife’s Application in a Case filed 17 October 2016 and husband’s Response filed 7 November 2016.

IT IS NOTED that publication of this judgment under the pseudonym Teasdale & Teasdale is approved pursuant to s.121(9)(g) of the Family Law Act 1975 (Cth).

FEDERAL CIRCUIT COURT
OF AUSTRALIA
AT PARRAMATTA

PAC 3041 of 2013

MS TEASDALE

Applicant

And

MR TEASDALE

Respondent

REASONS FOR JUDGMENT

Introduction

1. These reasons for decision relate to the determination of the wife’s Further Amended Application in a Case filed 17 October 2016 seeking an order that she be permitted to withdraw $100,000 from a controlled monies account held in trust for the parties by the wife’s solicitor. (If necessary, the Court grants leave for that application to be filed).

2. The husband’s Response to the above application filed 7 November 2016 seeks orders that the application be dismissed.  (If necessary, the Court grants leave for that application to be filed, having noted the wife’s objections to leave being granted).

3. However, in the husband’s written submissions, he indicates that he would consent to an interim property award to the wife of $45,000 although he does not concede the wife’s application is founded on a sound legal or evidentiary basis.

4. The parties entered into a Binding Financial Agreement on 5 November 2012, pursuant to Section 90C of the Family Law Act1975 (the Act). Under that agreement, inter alia, the former matrimonial home (the property) of the parties was to be transferred to the wife, which later occurred.

5. The wife sold the property and settlement occurred in April 2015. Prior to settlement, the husband had placed a caveat on the property. Just before settlement, the wife agreed with the husband to hold an amount of…