In a high-net-worth matrimonial dispute, the court addressed equalization, spousal support, a related corporate application, and a bankruptcy annulment.
The husband, who founded a highly successful international Halloween products business, engaged in extensive efforts to hide his income and assets in offshore companies, breached a Mareva injunction, and made a strategic assignment into bankruptcy to defeat his wife's claims.
The court imputed the husband's income at $1,400,000 per year, ordered an equalization payment of over $3.5 million, and awarded lump sum spousal support of nearly $6 million due to his history of non-compliance.
The court also annulled the husband's bankruptcy as an abuse of process and dismissed a related application by one of his offshore companies claiming beneficial ownership of an Ontario property.
