The applicant sought to set aside a Separation Agreement executed on October 19, 2023, along with two ancillary documents (Schedule B and an Addendum), on grounds of failure to disclose significant assets, lack of understanding of the nature and consequences of the agreement, duress, lack of consensus ad idem, and unconscionability.
The court found that the respondent failed to disclose the value of his Ontario Teachers' Pension Plan as a divisible asset.
The applicant signed the agreement under economic duress, having committed to an unconditional condo purchase and needing the buyout funds to close.
The agreement was found to be unconscionable, particularly regarding the waiver of spousal support and pension claims.
The court set aside all three documents and ordered that the matter proceed to a second phase to determine equalization of net family property, spousal support, and other outstanding issues.
The parties agreed that the buyout of the matrimonial home at $600,000 would not be disturbed.