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Torys LLP

79 WELLINGTON STREET WEST, SUITE 3000, BOX 270, TD CENTRE, TORONTO, ONTARIO, CANADA
Tel:
Work +416 865 0040
Fax:
Fax +416 865 7380
Email:
Web:
http://www.torys.com
Calgary, Montreal, New York, Toronto

Canada

Aboriginal law
Aboriginal law - ranked: tier 4

Torys

At Torys, senior figure Frank Iacobucci and civil litigation specialist John Terry are highlighted for their ‘wide contextual knowledge and practical guidance’ – both are based in Toronto. The firm is representing the government of Ontario in discussions with the chiefs of the Matawa Tribal Council on the Ring of Fire project and related resource development.

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Banking and finance
Banking and finance - ranked: tier 2

Torys

Dedicated, solution-oriented and knowledgeable’, Torys’ banking and finance practice ‘knows how to get a challenging deal past the line’. The group, which has platforms in Toronto, Calgary and New York, acts for domestic and international lenders and corporate borrowers on the full spread of finance transactions, with particular strength in debt finance deals. Toronto-based Adam Delean co-heads the debt finance group and advised Orion Mine Finance on providing a $325m construction financing – together with Resource Capital Funds – to Lydian International for its Amulsar gold project. Also in Toronto, project finance specialist Scott Kraag advised BMO and a syndicate of lenders on the C$275m financing of the Belle River Wind Project. Calgary debt finance head Kevin Fougere is ‘up there with the best’ and represented a syndicate of 12 lenders, led by RBC, on the amendment of Seven Generation Energy’s reserve-based credit facility from C$850m to C$1.1bn to support its C$2.1bn acquisition of oil and gas assets from Paramount Resources. Fougere also advised a CIBC-led syndicate on a C$760m acquisition financing to Tundra Energy Marketing related to its purchase of the Saskatchewan Pipeline System from Enbridge. Project finance head Jonathan Weisz and regulatory banking lead Blair Keefe are also recommended - both operate from the Toronto office.

Leading lawyers

Adam Delean - Torys

Blair Keefe - Torys

Jonathan Weisz - Torys

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Capital markets
Capital markets - ranked: tier 1

Torys

Torys sets itself apart through its ‘responsive, knowledgeable, practical and client-focused lawyers’. Calgary-based Scott Cochlan jointly chairs the capital markets group and is a ‘standout specialist’; he advised CIBC World Markets, TD Securities and the syndicate of underwriters on a C$115m bought-deal offering by Bonavista Energy, and he also advised the underwriters on a C$149m bought-deal offering by Mullen Group. Toronto’s David Chaikof ‘truly thinks about business needs and provides creative input’; he advised Blackberry on the redemption of $1.2bn of unsecured convertible debentures and on a $605m private placement of unsecured convertible debentures. Among the other names to note, Glen Johnson is ‘always available and provides quick answers on a broad range of securities law issues’, while senior associate Stephen Abrahamson is an ‘up-and-coming lawyer with strong technical and client skills’ – both are based in Toronto.

Next generation lawyers

Stephen Abrahamson - Torys

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Competition and antitrust
Competition and antitrust - ranked: tier 3

Torys

Traditionally better known for its merger prowess, Torys’ cartel and behavioural practice has increased its market profile of late. In a highlight example, ‘very strong’ competition co-lead Omar Wakil successfully represented TMX Group in an investigation into potential abuse of dominance in the securities data market. Among the firm’s recent merger cases, Wakil advised Parkland on its acquisition of the majority of the Canadian business and assets of CST Brands. Competition co-lead Dany Assaf and competition litigation head Linda Plumpton are also recommended.

Leading lawyers

Linda Plumpton - Torys

Omar Wakil - Torys

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Corporate and M&A
Corporate and M&A - ranked: tier 1

Torys

High-performing firmTorysholds its own with Magic Circle and Wall Street players’, according to clients, who draw particular attention to the firm’s ability to provide ‘international rather than just Canada-centric advice’ across a ‘broad range of strategic and governance matters as well as transactions’. Infrastructure and energy specialist Krista Hill acted for Alinda Capital Partners in the C$2.8bn sale of Reliance Home Comfort to Cheung Kong Property Holdings. ‘Creative problem-solver’ Matthew Cockburn ‘provides advice holistically, taking the time to understand the needs of the client’; he and Calgary partners Neville Jugnauth and Stephanie Stimpson advised CPPIB and its portfolio company Wolf Midstream on its C$1.4bn acquisition of a 50% ownership interest in Access Pipeline from Devon Energy. M&A co-head John Emanoilidis is a ‘strategic and practical thinker’ and advised OMERS on a C$400m investment in AltaGas to support its $8.4bn acquisition of WGL Holdings. In 2016, leading M&A specialist James Scarlett left to become chief legal counsel at Hydro One. Other recommended names include M&A co-head Cornell Wright and Karrin Powys-Lybbe, who splits her time between Toronto and New York. Named lawyers are based in Toronto except where otherwise stated. Since publication, Sharon Geraghty has left the firm to take a position as general counsel of Great-West Lifeco, and Peter Jewett has also left the firm.

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Dispute resolution
Dispute resolution: Ontario - ranked: tier 1

Torys

Commercial, creative, collaborative’, Torys impresses with its ‘strong ability to always see the big picture’. High-profile figure Sheila Block is a ‘phenomenal litigator’ and a ‘top choice for "bet-the-farm" litigation’; she teamed up with James Tory, Andrew Gray and Crawford Smith to represent CIBC in a securities class action alleging it did not properly disclose its exposure to the US residential mortgages market during the credit crisis. Patricia Jackson is ‘the best of the best’ and with Gray is defending Essar Global Fund in a $150m oppression claim. Linda Plumpton is also recommended and with Jackson acted for Manulife and Industrial Alliance in two related applications concerning the interpretation of universal life insurance policies. In 2017, the firm boosted its Montreal offering with the hire of Christopher Richter from Woods LLP. In 2017, senior partner John Laskin was appointed a judge of the Federal Court of Appeal.

Leading lawyers: dispute resolution - Ontario

Linda Plumpton - Torys

Patricia Jackson - Torys

Sheila Block - Torys

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Environment
Environment - ranked: tier 2

Torys

The environmental group at Torys provides ‘fantastic service’, with sources noting its ‘responsive, thoughtful and business-focused lawyers’. Toronto-based Dennis Mahony heads the practice and has a strong track record in renewable energy-related work – he is also experienced in issues relating to the oil and gas, mining and forestry industries. Also in Toronto, Michael Fortier is ‘near the top of the list for complex matters’ and advised on the environmental law aspects of several corporate finance transactions over the past year. Representative clients include American Water Enterprises Group, Canadian National Railway and NextEra Energy Canada.

Leading lawyers

Dennis Mahony - Torys

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Infrastructure and projects
Infrastructure and projects - ranked: tier 2

Torys

Very strong in Canada and the US’, Torys’ infrastructure practice is ‘recognized by governments at all levels for its invaluable advice on project structuring’, according to sources. In Toronto, PPP lead Mark Bain has ‘vast experience and subject matter knowledge’ and along with infrastructure specialist Daniel Ford advised the lenders to shortlisted consortium Humber Valley Transit Partners on the C$1bn Finch West LRT project. Tara Mackay splits her time between Toronto and New York and is an ‘excellent communicator who is able to translate complex subjects into layman’s language’; she acted with Bain to advise the lenders to Mountain View Partners on the C$1.4bn South West Calgary Ring Road PPP. On the public sector side, Ford is advising Infrastructure Ontario and Metrolinx on the Kipling Bus Terminal project. The group also benefits from some ‘impressively strong associates’, including Toronto’s Josh Van Deurzen.

Leading lawyers

Mark Bain - Torys

Next generation lawyers

Josh Van Deurzen - Torys

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Insurance: M&A and regulatory
Insurance: M&A and regulatory - ranked: tier 1

Torys

Torys blends its top-tier corporate offering with its niche strength in financial services regulation to offer comprehensive coverage of the insurance industry. Financial institutions co-chair Blair Keefe is widely lauded for his ‘outstanding sector knowledge’ and advised Canadian Life & Health Insurance Association on regulatory issues relating to the genetic discrimination elements of Bill S-201. Keefe also acted alongside the corporate team to advise Scotia Bank on its sale of HollisWealth to Quebec insurance company Industrial Alliance Securities. Capital markets specialist David Seville also has a strong profile in the insurance field and acted for Manulife Financial in several matters over the past year, including on its $1bn private placement of senior notes in Taiwan. In 2017, new financial institutions co-chair Jill McCutcheon arrived from Borden Ladner Gervais LLP, bringing with her 25 years of experience in the insurance industry. Fairfax Financial Holdings, Sun Life Financial and Wilton Re are also on the department’s books. All named partners are based in Toronto.

Leading lawyers

Blair Keefe - Torys

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Intellectual property
Intellectual property - ranked: tier 3

Torys

The ‘excellent’ team at Torys acts for clients across a broad range of sectors, including agriculture, technology and pharmaceuticals. ‘Highly recommended’ co-head Eileen McMahon and Edward Fan have been leading the advice to DuPont on all patent matters regarding the client’s agricultural products, including patent strategy and prosecution. McMahon has also been assisting AbbVie with the management of the client’s IP portfolio. On the contentious side, IP co-head Andrew Shaughnessy and litigation head Andrew Bernstein have been acting for Procter & Gamble in a number of patent and trademark proceedings. Teresa Reguly was promoted to partner in 2016. Other clients include Loblaws, CIBC and Thomson Reuters. The team is based in Toronto.

Leading lawyers

Eileen McMahon - Torys

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International trade
International trade - ranked: tier 4

Torys

Torys successfully advised Windstream Energy on bringing a claim for damages against the government of Ontario following its moratorium on offshore wind projects. Litigator John Terry is the key contact.

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Labour and employment
Labour and employment - ranked: tier 4

Torys

Considered by clients to be ‘very strong in the field’, Torys’ pensions and employment team provides ‘practical and legally sound’ advice on transactional employment matters, litigation, terminations and executive hirings. Litigator Lisa Talbot has been representing a number of Canadian hockey leagues and junior teams, as well as their insurer AIG Canada, in several class actions brought by players alleging that they are paid below minimum wage. Susan Nickerson and Darryl Hiscocks advised Scotiabank on the employment aspects of the client’s acquisition of JPMorgan Chase’s credit card portfolio in Canada, including complex transfers and secondment issues. The group is led by Mitch Frazer. All partners are based in Toronto.

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Pensions
Pensions - ranked: tier 2

Torys

The ‘very strong team’ at Torys scores highly for its ‘in-depth knowledge of the business context’ and its ‘strong history in the pensions law area’. Mitch Frazer heads the team and is ‘among the best in this space’; he is advising Navistar Canada in partial wind-up litigation proceedings. Susan Nickerson is also well known for her experience in the area and advised Scotiabank on the pensions and employee benefits aspects of its acquisition of a MasterCard and private label credit card portfolio from JPMorgan Chase. In another transactional highlight, Scott Bell advised CPPIB, as Canadian pension investment regulatory counsel, on its $2.5bn acquisition of a 40% stake in Glencore’s agricultural products business.

Leading lawyers

Mitch Frazer - Torys

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Real estate
Real estate - ranked: tier 2

Torys

Torys’ ‘broad understanding of the real estate area’ gives the Toronto-based practice a ‘unique insight into solving problems’, says a client. David Dell is ‘very experienced’ and advised Cadillac Fairview and Ontrea on the C$250m sale of Promenade Mall. On the investment side, Dell acted for Ontario Teachers’ Pension Plan and Cadillac Fairview on the structuring of new real estate vehicle Ontario Teacher’s Cadillac Fairview Properties Trust. Among the team’s development mandates, Donald Roger and Sabrina Gherbaz are advising Rogers Telecommunications – as the owner of the land and the development – on the new C$1.5bn M City project in Mississauga, which will host ten condo towers and more than two acres of public parkland. Graham Rawlinson, Rose Bailey and Simon Knowling are also senior names on the team. Sources also reserve praise for the ‘impressive quality of the group’s associates’, including ‘rising star’ Andy Gibbons.

Next generation lawyers

Andy Gibbons - Torys

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Restructuring and insolvency
Restructuring and insolvency - ranked: tier 2

Torys

A ‘strong player in the Canadian restructuring market’, Torys distinguishes itself through being ‘smart on the law but also very practical’. Lawyers are commended by sources as ‘subject matter experts’, with department lead Tony DeMarinis highlighted for his ‘deep experience in the area’. DeMarinis and David Bish (‘an industry expert with great customer service’) advised the Essar group of companies, as the sole owner of Essar Steel Algoma, on the latter’s restructuring proceedings. The ‘practical and user-friendly’ Scott Bomhof is a ‘strong relationship partner’ and along with Adam Slavens (‘great up-and-coming bankruptcy lawyer’) and Alison Bauer advised Ontario Power Generation on SunEdison’s restructurings in Canada and the US, including the purchase of power generating assets.

Leading lawyers

Tony DeMarinis - Torys

Next generation lawyers

Adam Slavens - Torys

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Tax
Tax - ranked: tier 3

Torys

Historically seen as a corporate support practice, Torys continues to grow and develop its tax division into a standalone practice. Team head Corrado Cardarelli advised Brookfield Asset Management on the $500m reorganization of the business services and industrial operations of the Brookfield Capital Partners group of entities and their placement in a new publicly traded partnership. On the contentious side, John Tobin represented AGF Management in a significant transfer price dispute. ‘Market-leader’ Jerald Wortsman, senior specialist John Unger and litigator Martha MacDonald are also recommended.

Leading lawyers

Jerald Wortsman - Torys

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Technology
Technology - ranked: tier 3

Torys

Torys has experience across a wide scope of technology issues, but had a particularly strong showing in the fintech sector over the past year. Recent highlights include Edward Fan representing Ontario Teachers’ Pension Plan in negotiating an outsourcing arrangement with Tata Consultancy Services. Technology contracting head Adam Armstrong and payments and cards co-chair Joel Ramsey are the key contacts.

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Canada: Energy

Mining
Energy: mining - ranked: tier 3

Torys

Torys’ mining practice has a strong corporate finance bent under the leadership of joint co-heads Michael Amm and Michael Pickersgill – both of whom are based in Toronto. Among the group’s recent highlights, it advised Orion Mine Finance on its $122.5m financing package to Premier Gold Minds to support its acquisition of Yamana Gold’s Mercedes Mine in Mexico. It also advised Triple Flag Mining Finance on a silver stream agreement with Milpo UK. Alamos Gold, ArcelorMittal, and Dowa Metals and Mining are also on the firm’s books.

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Oil and gas
Energy: oil and gas - ranked: tier 2

Torys

Torys climbs a tier on the back of its increasing involvement top-flight oil and gas mandates. In a major headline, Derek Flaman advised Husky Energy on its C$1.7bn sale of a 65% interest in certain midstream assets to Cheung Kong Infrastructure Holdings and Power Assets Holdings. Chris Christopher also had a strong year and acted for Inter Pipeline in its C$1.3bn acquisition of the Canadian natural gas liquids midstream business from Williams and also on its $527.5m acquisition of the remaining 15% interest in the Cold Lake pipeline system from Canadian Natural Resources. Calgary office head Ron Deyholos is also recommended.

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Power
Energy: power - ranked: tier 1

Torys

Torys’ houses a ‘market-leading’ power practice comprising lawyers who are ‘immersed in the industry’ and ‘efficient, responsive and highly business savvy’. In particular, infrastructure and energy co-head Krista Hill is a ‘go-to specialist for energy deals’, with her ‘impressive market knowledge’ and ‘strong communication skills’ finding favour with clients. Hill recently acted for Texas Transmission Holdings in its $2.4bn acquisition by NextEra Energy. Hill also teamed up with Valerie Helbronner to advise Copenhagen Infrastructure Partners on its partnership arrangements with Beothuk Energy concerning the development, construction and financing of offshore wind energy projects in Canada. High-profile regulatory specialist Charles Keizer jointly leads the national practice and with litigator Crawford Smith is representing Ontario Power Generation in its payment amounts application to the Ontario Energy Board (OEB) for incentive rates for its nuclear and hydroelectric businesses; worth over C$6bn, this work represents the largest rate proceeding ever in Ontario. In Calgary, Luigi Cusano is recommended for regulatory matters and provides ongoing advice to ENMAX on its power business interests, including generation and distribution issues. Jonathan Weisz, who is widely regarded as a leader in project finance matters, is also recommended. All named partners are based in Toronto except where otherwise stated.

Leading lawyers

Charles Keizer - Torys

Jonathan Weisz - Torys

Krista Hill - Torys

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