The applicant wife and respondent husband brought cross-motions for the release of funds held in trust from the sale of their jointly owned matrimonial home and commercial property.
The applicant sought $1.5 million and an order that the balance remain in trust pending final equalization, while the respondent sought an equal distribution of the funds.
The court ordered $1.5 million released to the applicant, $1.25 million held in trust to secure potential equalization payments, and the balance released to the respondent.
The court also ordered the respondent to produce an original promissory note allegedly evidencing a $500,000 loan from his late father.