The respondent, Stephen Levine, brought a motion seeking an advance on equalization to be used as a credit towards his purchase of the applicant's cottage and office condominium properties.
The applicant, Annette Levine, opposed this, arguing the court lacked jurisdiction for partial summary judgment on equalization due to significant disputes regarding asset valuations, outstanding disclosure, and uncommenced business valuations.
The court, citing Zagdanski and Haroun, declined to order an advance on equalization due to the contested facts and incomplete financial information.
However, it adopted an alternative proposal, ordering Stephen Levine to pay 50% of the cottage's net sale price (less a $50,000 valuator retainer) to reduce a line of credit on the matrimonial home, and to pay the full $400,000 sale price of the office condominium directly to Annette Levine (less commissions), ensuring she received a corresponding benefit for his acquisition of the properties.