POLITICS - The number of people getting a divorce typically go down during a recession because people are more likely to be forced to stay together because of economic reasons.
A new ruling in Ontario's Court of Appeal today has also decreed that divorced people can pay less money to their ex-spouses if a recession has effected their business profits or even forced their business heavily into debt.
In a complex 3-0 ruling, the court set aside a trial judge's decision from 2007 that required businessman Harold Serra to make an "equalization payment" of $4.1 million to his ex-wife, Barbara.
Harold Serra explained that between the time the couple separated and the time their case got to trial, the value of his textile business had diminished in value due to the recession from $11.25 million to between $1.8 and $2.6 million. In other words he doesn't have the money to pay his ex-wife.
The judges reduced the equalization payment to $900,000.
The new ruling will effect a lot of families as it will make it easier for couples to get divorced and get a more equal share when the judges take into account the economic conditions.
Subscribe to:
Post Comments (Atom)
Featured Posts
|
The Sarcasm Symbol
Ever had some confusion online or with your cellphone when someone fails to catch the sarcasm? Well now with the SarcMark you can ge... |
|
Behold, the Scorpion Hydrogen Supercar
CARS - To the right is the future of supercars... it is a hydrogen supercar called the Scorpion. The Scorpion from Ronn Motors in Texas is t... |
|
Documents show Stephen Harper misusing public funds
CANADA - According to 950+ pages of documents obtained by the Canadian Press under the Access to Information Act the Privy Coun... |
|
Pink's Rosie the Riveter
ENTERTAINMENT - What I like about this video is how it meshes different social movements like feminism, veganism, anti-capitalism... |
|
California's Dustbowl
ENVIRONMENT - The photo on the right is a farm in California that has been put up for sale. Its just one of thousands of farms that are n... |
|
Is Steampunk the New Goth???
GOTHIC - Watch out what you see on the subway late at night because while in 2001 you might have seen some pretty freakish goths, by 20... |
|
Do you have enough Ice Water in your diet?
HEALTH - A Calorie (large C) is a measurement of the amount of energy needed to raise the temperature of a litre of water (1 kg's worth) ... |
|
North Korean timeline towards Inevitable War
POLITICS - The following is timeline of events that have occurred on the Korean Peninsula. 1945 - Japan surrenders to the United States a... |
|
Judgment Day is Tomorrow, so sayeth Cult
RELIGION - According to a cult based in California, Judgement Day is tomorrow (May 21st 2011) and Jesus Christ will return to the Earth a... |
|
Sex in Space Forbidden
SEX/TECHNOLOGY - Sex in outer space is a big no-no according to NASA. Not for professional astronauts at least, but the growing numb... |
Popular Posts / Last 30 Days
-
CANADA - The following is a list of 10 reasons why Torontonians are considered the rudest city in Canada. The sad part is Toronto may deser... -
CANADA - In the early 1990s immigration actually helped saved the Canadian economy from the recession . Why? Home sales. More population,... -
CANADA - If you live in Muskoka you might be a millionaire. In fact its pretty much a statistical average. Probably some overpaid executive... -
Stuckism was founded by Charles Thomson and Billy Childish in 1999 with 12 artists to promote contemporary figurative painting and oppose... -
CANADA - I am henceforth boycotting Yak Canada and encouraging other people to do the same. A telemarketer from Yak Canada called me on my... -
ENTERTAINMENT - Can't wait for this Summer's movies? Watch the trailers for May and make a list of the ones you want to see. We wil...
-
GOTHIC - A 21-year-old goth girl in Australia was attacked last week in Australia by a 30-something couple who didn't like her clothes.... -
TECHNOLOGY - The newly repaired Hubble space telescope has new images to share. This is the fifth time time Hubble will be upgraded and its... -
POLITICS - The last 500 American soldiers rolled out of Iraq across the border into neighbouring Kuwait under the cover of darkness on Sun...
-
Its official. Lilith News is predicting a Liberal Majority government in Canada in the upcoming election. We are basing this prediction on t...
No comments:
Post a Comment
Comments containing links will be marked as spam and not approved. We moderate every comment. If you want to advertise on this blog it is $30 per link.