The team at Mahony Family Lawyers is pleased to report that the Parramatta Registry has been selected as one of four Registries in the Federal Circuit Court to commence the ‘Priority Property Pool under $500,000’ case management process.
This was announced by the Honourable Justice William Alstergren, Chief Judge of the Federal Circuit Court of Australia on 7 February 2020.
What is a ‘Priority Property Pool under $500,000 Case’ or ‘PPP500’?
To be eligible as a PPP500 Case, parties must have been in a matrimonial or de-facto relationship with:
- A total asset pool of less than $500,000 (including superannuation); and
- Have no assets that require valuation
A case will not be eligible for consideration as a PPP500 Case if:
- Parenting orders are sought;
- Parenting and property orders are sought together;
- Child support or child maintenance orders are sought; and
- There are live contravention or enforcement applications
What is the benefit?
The benefit of a matter being classified as a PPP500 Case is that parties are likely to receive a final resolution of their matter in a timely and cost-effective manner. This is possible as PPP500 Cases are closely case managed by a Registrar prior to and following their first Court date. This level of intervention enables parties to better participate in Alternative Dispute Resolution (‘ADR’) and narrow the issues in dispute.
How to start a PPP500 case?
To commence a PPP500 case, parties are to file an Initiating Application and a PPP500 Financial Summary document. There is no requirement to file an Affidavit or Financial Statement, unless directed to by the Court, or where ADR fails.
The Practice Direction for the PPP500 case can be accessed at http://www.federalcircuitcourt.gov.au/wps/wcm/connect/fccweb/rules-and-legislation/practice-directions/2020/pd22020
To discuss your property settlement and whether your matter is an eligible PPP500 case, contact Mahony Family Lawyers today by calling 02 9018 9408.