2 total
Income was imputed and failed investments were valued at zero.
Following a family trial, the court resolved remaining issues concerning parenting decision-making, section 7 expenses, child support, the date of separation, and equalization.
The court granted the mother sole decision-making authority over extra-curricular activities, found the father’s opposition to dance classes unreasonable, and ordered section 7 expenses shared in a 5:6 ratio.
For child support, the court imputed annual income of $120,000 to the father from June 1, 2021, finding both that his true earning capacity exceeded his reported income and that he was intentionally underemployed within the meaning of the Guidelines.
On property issues, the court fixed the separation date at January 14, 2021 and valued the applicant’s Dreamfund investments at zero on that date, concluding an objective observer would have regarded them as worthless despite later sporadic payments.
Summary judgment Claim dismissed
This was a fraudulent conveyance action concerning the transfer of a property from Punit Lala and Pawan Lala to Pawan Lala and Rani Lala.
The transfer occurred after Punit Lala was served with a motion for summary judgment in a fraud action by the applicant, Infolink Technologies Corp. The court found that Punit Lala conveyed the property with the intent to defeat Infolink's ability to collect on a potential judgment, and that the other defendants (Pawan, Rani, and Kishore Lala) either knew about this intent or were wilfully blind to it.
The court also determined that Rani and Pawan Lala were not bona fide purchasers for value, as they did not act in good faith and the property was not transferred at fair market value.
The transfer was declared void as against Infolink, allowing them to execute against Punit Lala's ¼ interest in the property.
Infolink's claim for punitive damages was dismissed.
