The Court of Appeal rules that Mark Clayton’s right to remove discretionary beneficiaries from a family trust, leaving himself as the sole beneficiary, could be “property” and therefore relationship property. It said the value of that relationship property was the net value of the trust’s assets. Mark Clayton is seeking leave to appeal the decision.
The Supreme Court overturns a Court of Appeal ruling that an $8 million restraint of trade payment to the husband when the couple’s business was sold constituted separate property. The Supreme Court said it was relationship property and should be divided equally with his former wife.
The High Court upholds a Family Court decision to award 70 per cent of a $1.8 million relationship property pool to the wife of an orthopaedic surgeon because of economic disparity. The husband has been granted leave to appeal.
The High Court awards to the wife half the value of a family home, and half the increase in value of separate property, which, at the time of separation, were owned by a trust in the name of the husband’s family.
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