Watters and Fairlie

This matter came before Tree J concerning applications made by the husband and wife. The dispute appears to involve the division of property and the administration of a trust, with specific reference to a property located at B Street, Suburb C, and the D Trust.

The court was required to determine the conditions under which the wife would resign as a trustee of the D Trust, the disclosure obligations of both parties regarding real properties in which they hold an interest, and the procedure for dealing with the proceeds of any property sales. The court also considered the husband's applications filed in August 2019 and the wife's application filed in September 2019.

Tree J ordered that a trial management hearing be appointed for 12 February 2020. The wife was to resign as trustee of the D Trust upon the husband releasing her from all liabilities and guarantees related to the B Street property and filing an undertaking not to further encumber it, save for specific borrowings. Both parties were ordered to provide detailed particulars of all real properties they have an interest in, whether on or off the market, within seven days. Further orders stipulated the exchange of sale contracts, details of sale price determination, and particulars of the intended distribution of sale proceeds prior to completion.

Ultimately, the husband's applications and the wife's application were dismissed, subject to the fulfilment of the conditions outlined in the orders, including the wife's resignation as trustee and the detailed disclosure and handling of property interests and sale proceeds. Liberty to apply was granted to either party concerning property sales.