Does a post-separation commercial transaction providing for the sale of shares awarded to the wife in the matrimonial proceeding to the husband be invalid?

British Columbia, Canada


The following excerpt is from S.L.D. v. W.A.D., 2016 BCSC 616 (CanLII):

Reference was also made to Klassen v. Klassen, 2001 BCCA 445, where the court set aside a post-separation commercial transaction providing for the sale of shares awarded to the wife in the matrimonial proceeding to the husband on the basis that the husband, the controlling mind of the business, failed to properly disclose that the worth of the shares far exceeded the purchase price. The shares were never legally transferred to the wife, but became beneficially her property following the matrimonial proceeding. She was never provided with financial information as to the company’s performance during the period of her beneficial ownership so as to properly inform her decision as to the value of them when the husband proposed he pay her for them.

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