Native information shops are reporting {that a} divorcing Toronto couple had a singular asset to think about, when dividing up their belongings: two tickets to one in all Taylor Swift’s native concert events (that are underway within the metropolis as we communicate, on a 6-concert run over two weekends).
It seems the couple had bought the tickets throughout happier instances, however realized throughout their separation course of that it was one of many gadgets they needed to negotiate over. A part of the problem could be the tickets’ financial valuation on the time, as a result of (as media sources additionally report), they’re presently going for as much as $13,000 apiece. The couple had reportedly bought the tickets way back, once they had been nowhere close to that staggering value.
The legislation agency for one in all former spouses – which is precluded by solicitor-client privilege from revealing the couple’s id – recounted that it supplied the couple with three choices:
- Attend the live performance collectively, regardless of being separated;
- Permit one in all them to purchase out the opposite’s ticket, at present market value; or
- Promote the tickets on the open market, and break up the proceeds.
The legislation agency didn’t reveal what the couple in the end determined to do with the tickets.
There are lots of Canadian divorce instances that characteristic really distinctive belongings requiring division. On a associated theme, a really latest courtroom ruling from British Columbia concerned a pair that owned a highly-profitable ticket-scalping enterprise that had been began by the husband, M.L. The courtroom recounted the origin story of how the enterprise obtained began, and likewise supplied a glimpse of a few of the challenges that such a enterprise faces:
Ticket Reselling
Showtime
[53] When M.L. was in highschool, he labored on the Coliseum on the Pacific Nationwide Exhibition. He was intrigued by ticket sellers he noticed outdoors the Coliseum “scalping” occasion tickets at effectively above face worth. He began doing the identical and, regardless of being threatened and assaulted, he was profitable at it.
[54] On Could 5, 1995, M.L. integrated Showtime. … M.L. described Showtime as the primary Canadian retail ticket reselling company. It brazenly and transparently purchased tickets from prospects who had been promoting and resold them to prospects who had been shopping for. Previous to Showtime, ticket reselling was thought of a shady enterprise performed by scalpers. M.L. made efforts to legitimize the business and was regarded by the media and others as a trusted supply of data in respect of ticket reselling.
…
[56] By way of M.L.’s dedication and exhausting work, supported by R.L.’s accountability for his or her Youngsters and residential, by the point of the 2010 Vancouver Olympics, Showtime had 30 staff.
[57] M.L. testified that he anticipated to make some huge cash throughout the Olympics after which retire. That didn’t occur. Showtime contracted with and paid a provider for “thousands and thousands” of Olympic tickets. The provider defaulted. Showtime had already offered these tickets all around the world. M.L. described the way it was customary apply within the ticket reselling business to promote tickets earlier than they had been acquired.
[58] After the provider defaulted, Showtime scrambled to seek out out there tickets within the market to ship on its buyer commitments. M.L. described how individuals had been “waving cash” at Showtime but it surely had nothing to promote. Showtime’s accounting system and level of sale web site crashed. Prospects confirmed as much as decide up tickets that Showtime had no report of them shopping for.
…
[60] M.L. mentioned he labored 16-18 hours a day to avoid wasting the enterprise and that he obtained via it by unimaginable exhausting work however at a excessive value, “emotionally, financially, and spiritually”.
[61] Fortuitously, following the Olympics, the Vancouver Canucks had been in a playoff run. Canucks tickets had been in excessive demand and commanded a premium. The workforce made it to the playoffs in Could and June 2011. M.L. mentioned he was in a position to recoup a few of Showtime’s Olympic losses.
In the end, in what turned out to be a 400-paragraph judgment, the courtroom went on to scrutinize all the couple’s in depth belongings and plenty of corresponding money owed; this included the worth of Showtime’s successor firm, which was now value a number of million {dollars} by itself. The courtroom used the figures when equalizing the couple’s property throughout their divorce.
To return for a second to the Toronto couple that wanted to divide up their Taylor Swift tickets: Hopefully they’re proud of no matter they determined, even with all of the commotion and pleasure within the metropolis proper now. And if there may be any lingering resentment by both of them, hopefully they’ll simply “Shake it Off”.
Full textual content of the choice: R.L. v M.L., 2024 BCSC 106 (CanLII)