Vancouver Canucks owners embroiled in family fight over multibillion-dollar empire

VANCOUVER, British Columbia (CN) — An internal battle within Vancouver’s prominent Aquilini family has gone public with a lawsuit over whether part of the family has been squeezed out of their business empire in retaliation for coming forward with claims of sexual assault.

The Aquilini family runs a multibillion-dollar business empire, spanning agriculture, real estate investment, hospitality and more — but they are most well-known in Vancouver for their ownership of the Vancouver Canucks.

The family of Paolo Aquilini, one of patriarch Luigi Aquilini’s three sons, says it has been pushed out of that business. Earlier this year, Paolo resigned as co-owner of the Canucks.

Also named as defendants, alongside Luigi, are his other two sons, Francesco and Roberto Aquilini.

At the center of the lawsuit filed by Matteo Aquilini, one of Paolo’s children, is the restructuring of the Elisa Aquilini Family Trust, of which matriarch Elisa Aquilini had been the sole trustee until her death in 2015.

Matteo claims the moves were made in “retaliation against Paolo and his entire lineage.”

In January 2020, a member of Paolo’s family, referred to in the lawsuit as “J. Smith,” claimed a member of Roberto’s family, “J. Doe,” repeatedly sexually assaulted them when they were both children.

“After becoming aware of the serious allegations, Roberto, rather than expressing concern or compassion, did not acknowledge them. His reaction conveyed a calculated avoidance, devoid of empathy,” Matteo asserts. “Instead, Roberto, supported by Luigi and Francesco, decided to retaliate against Paolo.”

Matteo describes Elisa as “the calm center of the Aquilini family,” who was “fiercely protective” equally of her 14 grandchildren. But he claims Luigi used Elisa’s vulnerable state on her deathbed to get her to sign “critically important documents” that would allow him to take control of the trust “under the guise of the re-organization.”

In the restructured family trust, known as the LEALT, Matteo says Luigi was named both as a trustee and a beneficiary, and it gave trustees absolute control over the Elisa Trust.

Those assets include a 40% stake in Aquilini Investment Group. The remaining 60% of AIG is divided equally between Paolo, Francesco and Roberto.

“Nothing about the re-organization required Luigi to be appointed as trustee or named as a beneficiary. Luigi orchestrated those steps purely to circumvent the restrictions in the Elisa Trust, and in furtherance of his own self-interest,” Matteo said.

After the accusation of sexual assault surfaced, Matteo claims that Luigi, Roberto and Francesco weaponized the terms of the LEALT to disinherit him and his siblings.

Matteo says Luigi amended the LEALT’s statement of guiding principles to distribute the trust only to Roberto and Francesco in the event of Luigi’s death.

“Through this directive, Luigi subverted the ultimate purpose of the LEALT: to benefit the lineal descendants of Luigi and Elisa,” Matteo said. “The directive completely fetters and overrides the trustees' discretion prescribed by the LEALT deed, thus turning the trust from a discretionary to a non-discretionary trust.”

Matteo seeks an order finding the LEALT’s trustees violated their fiduciary duties to Matteo and his siblings, and that the LEALT’s assets be returned to the original Elisa Trust.

And he seeks an order ousting Luigi, Roberto and Francesco from control of the trust.

Courthouse News reached out to representatives for both the Aquilini Investment Group and Matteo, but has yet to receive any response.

Courthouse News reporter Dustin Godfrey is based in Vancouver, Canada.