Yang and Gian and Anor

This matter came before Aldridge J concerning a dispute between a wife and her husband (the first respondent) regarding the sale of matrimonial property. The court also considered the interests of Westpac Banking Corporation.

The primary legal issue before the court was how to facilitate the sale of the matrimonial property located at B Street, Suburb C, New South Wales. This involved determining the method of sale, the price at which it could be sold, the appointment of a trustee to manage the sale, and the distribution of the sale proceeds.

Aldridge J ordered that the property be sold, appointing Mr I as Trustee for the sale with broad powers to conduct the sale, including appointing an agent. The sale was to proceed by private treaty in the first instance, with a minimum price of $410,000 if no agreement was reached within 14 days. If private treaty failed within six weeks, the property was to be sold by auction with a reserve price of $400,000, to occur within ten weeks. If the property was passed in at auction, the Trustee was empowered to determine the manner and price of sale. The Trustee was authorised to deduct specific expenses from the proceeds, including rates, agent commissions, sale expenses, legal expenses, and the discharge of a mortgage to Westpac Banking Corporation. The remaining balance was to be held in a controlled monies account pending further order. Liberty was granted to the parties, Westpac Banking Corporation, and the Trustee to relist the matter upon short notice in the event of difficulties.