A fresh perspective on divorce, spousal support, child support, parenting after separation and everything family law

Divorce: how much are the Vancouver Canucks worth?

The answer is – we may never find out.

As reported by Neal Hall in the Vancouver Sun:

Vancouver Canucks owner Francesco Aquilini has filed an application in court to keep the team’s financial information private during his divorce case.

A little background…

Francesco Aquilini is involved in divorce proceedings with his wife, Taliah Aquilini, in a Supreme Court of British Columbia file opened on February 22, 2012.

The Aquilini family has substantial assets, including an ownership interest in the Vancouver Canucks.  The team was valued at $300 million dollars by Forbes (calculated in November 2011).

Of course a valuation in Forbes is not adequate information to rely upon in dividing family assets upon marital breakdown.

What documents and information can I get about family assets in my divorce proceedings?

In divorce proceedings, a spouse is entitled to substantial financial disclosure – far more financial information than an estimate of value from Forbes.

A spouse is entitled to a Financial Statement, in Form F8 – which is a sworn statement setting out the income, assets and liabilities of the the other spouse, along with supporting documentation (such as tax returns and property assessments).

A spouse can also employ the Supreme Court Family Rules to gain more in depth access to information regarding both family assets, and other assets of the spouse.

Some of the methods to get financial information in a divorce proceeding include (but are not limited to):

  • Examinations for discovery;
  • Demands for production of documents (including demanding documents directly from the corporation/ business in which the spouse has an interest);
  • Examination and inspection of documents;
  • Discovery by interrogatories;
  • Examination of witnesses; and
  • Expert reports on financial issues.
You wrote in a previous blog that divorce files are only accessible to specific people…why does Francesco Aquilini need a further court order?

Divorce files are generally only accessible by the spouses and their respective legal counsel.

However, court proceedings are usually opened to the public, and court decisions are also made public.

Pursuant to Rule 5-1 of the Supreme Court Family Rules, the Supreme Court of British Columbia can make an order sealing financial information, if:

 the court considers that public disclosure of any information filed under this rule would be a hardship on the person in respect of whom the information is filed

Court documents, filed in the above noted application, set out:

One very prominent business owned by the Aquilini family is the Vancouver Canucks. Serious harm would flow to that business if its financial information were made publicly available.

The application brought by Mr. Aquilini should be heard in the Supreme Court of British Columbia (Vancouver Registry) on Tuesday, June 12, 2012, according to NBC Sports.

NOTE – If you need to find a courtroom or hearing time, daily lists can be found on Court Services Online.