B. v. B.

B. v. B.

There is a serious question to be tried concerning whether assets should be divided in specie or valued and accounted; absent a stay a receiver's appointment and liquidation would render the appeal moot; accordingly a conditional stay was granted to preserve the appeal while providing the plaintiff immediate funds by ordering sale of sufficient Xillix shares to realize $165,000 within 30 days and monthly advances of $10,000 thereafter until the appeal hearing or exhaustion of the shares, together with timelines for filing appeal materials.

Citation
2004 BCSC 1050
Parties
Plaintiff: L. B.; Defendant: S. B.
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
20 May 2004
Procedural Posture
Family Relations (division of Family Assets) / Application to Stay Execution Pending Appeal
Outcome
Stay of execution granted pending appeal on specified terms
Legal Topics
Stay of Execution, Division in Specie Vs Valuation of Assets, Interim Relief, Sale of Corporate Shares
Source Language
English
Family Law Civil Procedure Appeal Stay of Execution Division in Specie Vs Valuation of Assets Interim Relief Sale of Corporate Shares

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Parties

L. B.

Plaintiff

S. B.

Defendant

Procedural Posture

Family Relations (division of Family Assets) / Application to Stay Execution Pending Appeal

Legal Issues

  1. 1 Whether to grant a stay of execution of an order made under the Family Relations Act pending appeal
  2. 2 Whether there is a serious question to be tried as to when a trial judge should order division in specie of family assets versus valuation and accounting
  3. 3 Whether the proposed liquidation of corporate assets would render the appeal moot and thus justify a stay

Ratio Decidendi

There is a serious question to be tried concerning whether assets should be divided in specie or valued and accounted; absent a stay a receiver's appointment and liquidation would render the appeal moot; accordingly a conditional stay was granted to preserve the appeal while providing the plaintiff immediate funds by ordering sale of sufficient Xillix shares to realize $165,000 within 30 days and monthly advances of $10,000 thereafter until the appeal hearing or exhaustion of the shares, together with timelines for filing appeal materials.

Court Disposition

Stay of execution granted pending appeal on specified terms

Orders

  • Sufficient Xillix shares shall be sold to realize proceeds of $165000 to be paid to Ms. B. within 30 days from May 20, 2004
  • After 30 days, sufficient Xillix shares shall be sold to realize proceeds of $10000 per month, advanced to Ms. B. on the 1st of each month commencing August 1 until the hearing of the appeal or until all the shares have been sold, whichever is sooner