The applicant brought a motion to enforce Minutes of Settlement regarding her late parents' estates.
The parties disputed the valuation date for real estate joint ventures and corporate shares used to fund a $4.9 million preference payment to the applicant.
The applicant argued for 2010 valuations, which would grant her the subsequent appreciation in value, while the respondent argued for current valuations.
The court held that, based on an objective interpretation of the settlement and the general rule for estate distributions, the assets must be valued at a date proximate to their distribution.
