Whelan & Whelan

This matter concerned an application by the husband and wife for property settlement orders pursuant to section 79 of the *Family Law Act 1975* (Cth). The court was required to determine how the parties' various assets and liabilities, including real estate, company shares, loan accounts, and personal property, should be divided.

The court considered the division of several properties, including the W property, which was to be transferred to the husband and wife in separate lots. The wife was to become the sole owner of the P property, assuming responsibility for its mortgage. The parties were also directed to arrange for Whelan Group Pty Ltd to transfer certain monies and the Y property to the husband, with the husband to discharge the mortgage on the Y property and bear associated costs.

Further orders included the husband transferring his shareholding and entitlements in Whelan Group to the wife, resigning as a director, and indemnifying the wife in relation to his past involvement with the company. The husband was also to transfer his credit and debit loan accounts with Whelan Group to the wife, who would then be solely responsible for any debit accounts. The parties were to jointly wind up W Breeding Pty Limited and share its liabilities equally. The wife was to receive sole ownership of a Jaguar motor vehicle and all garden plant and equipment and artwork at the W property. All other personalty and furnishings were to remain with the party in possession. The husband's application for interim spousal maintenance was dismissed.