Theodorou and Theodorou

In the matter of *Theodorou and Theodorou*, Foster J of the Federal Circuit and Family Court of Australia was required to determine the final property settlement between the parties. The dispute concerned the division of the parties' asset pool, specifically the matrimonial home located at F Street, Suburb G.

The primary legal issue before the court was how to achieve a just and equitable division of the parties' assets, particularly in light of the wife's ability to pay a sum to the husband to retain the Suburb G property. The court also had to consider the consequences of the wife failing to meet any agreed payment deadline, and how the asset pool should be divided in such an event.

Foster J ordered that the wife pay the husband $705,000 within four months, in consideration of which the husband would transfer his interest in the Suburb G property to her. In the event of the wife's default in this payment, the parties were ordered to sell the property and divide the net proceeds of sale so as to achieve an overall asset pool division of 52.5 per cent to the wife and 47.5 per cent to the husband. Liberty to apply was granted for the implementation or enforcement of these orders.