In a 32-year marriage, the trial judge ordered equalization of net family property and spousal support.
The appellant challenged both awards.
The Court of Appeal upheld the equalization determination, finding the trial judge's use of similar multiples for two companies in the same business was reasonable and well-reasoned.
However, the Court of Appeal found the trial judge erred in principle in determining spousal support by failing to consider the significant effect of the equalization payment on the respondent's compensatory and non-compensatory entitlement and by failing to impute investment income to the respondent based on the equalization payment.
The spousal support was varied from $28,978 per month to $21,000 per month based on an imputed income of $675,000 rather than the full $1,000,000.