Earlier this year, The Honourable Justice William Alstergren issued a practice direction for the Priority Property Pool under $500,000 Case (PPP500). The PPP500 initiative hopes to achieve just, efficient, and timely resolutions for specific property cases, at a cost to the parties that is reasonable and proportionate to the circumstances of the case.
A property matter will be considered a PPP500 Case where: –
- The value of the net property of the parties (including superannuation interests) is under (or appears to be under) $500,000;
- There are no entities (such as family trusts, companies, or self-managed superannuation funds) owned or in the effective control of either of the parties; or
- The Court makes a declaration or notation that the case is designated as a PPP500 case.
Even if the property pool I sunder $500,000, you may not qualify to be a PPP500 case, if:
- Parenting Orders are also sought;
- there are parenting and financial (including spousal maintenance) Orders sought together;
- it involves child support cases;
- it involves child maintenance cases;
- it includes Contravention Applications; or
- it includes Enforcement Applications.
The PPP500 initiative has been created to streamline the Court process and to assist parties (as best as possible) to litigate their own matters (if their property pool is under $500,000). The usual requirement to file lengthy Court Affidavit’s and Financial Statements is waived unless:
- The Court directs the filing of those documents; or
- Alternate dispute resolution has failed, and the parties are proceeding to trial.
A party whose net property pool is under $500,000 should commence proceedings by filing the following documents:
- Initiating Application (Family Law); and
- PPP500 Financial Summary.
Both of these documents are available on the Federal Circuit Court website for download.
If you require assistance with your property matter, or if you are unsure if your matter falls within the definition of PPP500, then please get in touch with us, to speak with one of our solicitors.