Torys > Toronto, Canada > Firm Profile

Torys > The Legal 500 Rankings

Canada > Capital markets Tier 1

Torys‘ capital markets team is distinguished by its marked financial services focus. The group routinely represents banks, asset managers and other financial services clients as issuers and underwriters on an array of debt and equity offerings, with notable experience in IPOs, limited recourse capital notes (LRCNs) and labelled bonds, among other matters. In a highlight example of its practice sweet spot, Toronto-based Rima Ramchandani represented Sun Life Financial on its C$2bn public offering of subordinated unsecured debentures. Ramchandani co-heads the department together with Toronto-based David Seville, who led the firm’s advice to multiple banks on the issuance of additional Tier 1 capital limited recourse capital notes, and Calgary-based Scott Cochlan, who blends corporate finance and energy expertise. Other senior names include high-profile securities expert Glen Johnson and securitization specialists Jim Hong and Michael Feldman, all of whom are based in Toronto. The group also includes increasingly prominent Calgary partner Michael Pedlow, who acted alongside Cochlan to advise the underwriters on Topaz Energy Corp’s C$201.3m equity offering, and promising associate Brett Saulnier.

Canada > Corporate and M&A Tier 1

Torys fields offices in Toronto, Calagry, Montreal and New York, demonstrating a tenacity for blockbuster M&A and buyout deals within the financial services, mining, consumer product, technology, energy and infrastructure, oil and gas, life sciences and healthcare sectors. Market veteran John Emanoilidis demonstrates a long-standing track record in multi-billion dollar M&A, hostile takeover bids, proxy contests and going-private deals; he co-leads the team from Toronto alongside Karrin Powys-Lybbe, an expert in transactions, securities law, corporate governance and corporate finance, as well as Michael Amm, a lawyer with a first-rate reputation for M&A, strategic investment, securities offering, IPO and joint venture deals. Adrienne DiPaolo is an up-and-coming partner with experience in significant contested and negotiated deals while, over in Calgary, Janan Paskaran provides the group with considerable knowledge of energy, cannabis and agribusiness-related transactions.

Energy and natural resources > Oil and gas Tier 1

A latecomer to Calgary compared it its top-tier peers, Torys‘ has worked to establish an impressive record locally, and internationally, since its arrival in the market a decade ago. Primarily recognized for its transactional prowess in oil and gas, the firm also has the project development and regulatory expertise to handle all aspects of energy work. Among its recent highlight matters, department head Derek Flaman advised Cenovus on the C$420m sale of its retail fuel network to Parkland Corporation and Federated Co-operatives Limited. Elsewhere, Chris Christopher, highlighted as a ‘go-to lawyer for oil and gas transactions‘, paired up with the wider corporate group to advise AltaGas on the proposed C$1bn sale of its Alaskan utilities business to TriSummit Utilities. Increasingly prominent younger partner Peter Danner is also recommended. All named attorneys are based in Calgary.

Energy and natural resources > Power Tier 1

A destination practice for power work, Torys‘ signature transactional prowess is underpinned by a formidable regulatory offering. The group enjoys strong relationships with major public and private power clients, including Ontario Power Generation (OPG), Hydro One Networks and ENMAX Power Corporation, while also acting for leading industry investors and lenders. On the transactional side, department co-head Krista Hill is sought after for her involvement in major, transformational deals; she is currently advising OPG on the landmark Darlington small modular reactor project. Projects specialist Valerie Helbronner and up-and-coming partner Huw Evans  are also recommended for power transactions. Key regulatory names include Calgary managing partner Lou Cusano, who has a strong record in complex administrative disputes, and high-profile practice co-head Charles Keizer.

Canada > Infrastructure projects Tier 1

The multidisciplinary practice at Torys spans a range of infrastructure, energy, procurement, project finance and M&A matters. Clients additionally highlight the firm’s niche expertise in projects involving Indigenous lands, which was recently evidenced by its advice to the First Nations Major Projects Coalition in matters related to 129 First Nations’ proposed sale of an interest in Trans Mountain Corporation to Indigenous communities. PPP specialist Mark Bain led the Coalition work and co-heads the overarching energy and infrastructure department. Fellow department co-head Scott Kraag leads on project finance and is particularly recognized for his experience in renewable energy projects. The team also includes Daniel Ford, who focuses on infrastructure development and financings, and Tara Mackay, who splits her time between New York and Toronto, and maintains a pan-North American infrastructure practice. Other named lawyers are full-time members of the Toronto office.

Canada > Insurance Tier 1

Noted for its 'diverse experience and knowledge of the industry', Torys' regulatory and transactional insurance practice is regularly called upon by insurance companies, public authorities and industry associations. The group also frequently links up with the firm's premier dispute resolution practice to provide advice on insurance litigation. Prominent financial services specialist Blair Keefe co-heads the corporate insurance and reinsurance department; he recently acted as insurance regulatory counsel to Intact Financial on its £7.2bn acquisition, alongside Tryg, of RSA Insurance Group. Jill McCutcheon is an 'expert in the field' and co-heads a sizeable team that also includes senior counsel Kelly Morris and 'great up-and-coming' associate Melissa Prado.

Canada > Pensions Tier 1

The experienced team at Torys advises clients on the full spectrum of pension matters. In addition to pension plan governance and pension law advice, the group is also sought for counsel on related ESG matters such as investment standards, regulatory obligations and disclosure and reporting requirements. Expertise also extends to plan drafting, wind-ups, solvency funding, plan mergers, pension surplus, administration and tax issues. Pension, employment and benefits expert, Mitch Frazer, heads the practice from Toronto. Susan Nickerson has over 24 years’ worth of pension, benefits and governance experience; she also provides input to Canadian lawmakers on areas of reform in the pension and benefits community. Tom Stevenson is noted for his vast knowledge in pension governance matters in relation to corporate and commercial transactions. Ellie Kang joined the team from Foley Hoag LLP.

Canada > Banking and finance Tier 2

Lawyers at Torys strike the right note for being ‘willing to shape documents to fit unique transactions‘. The group’s diverse client base includes major banks, pension funds, corporate borrowers and public sector entities, whom it advises on a range of lending transactions and strategic regulatory matters. On the transactional side, Toronto-based Adam Delean ranks among Canada’s leading lights; he recently advised Royal Bank of Canada, and the lending syndicate, on providing C$485m senior secured credit facilities to Pet Valu Canada. Amanda Balasubramanian, who co-heads the banking and debt finance practice alongside Delean, and Tom Zverina are also noted for transactional matters in Toronto, while pre-eminent specialist Blair Keefe and the increasingly prominent Jill McCutcheon are optimal choices for regulatory issues. Outside of Toronto, the firm’s Calgary office is held up by one banking client as ‘the best in the city‘, with Kevin Fougere recommended for his strength in energy-related matters. Fougere recently advised ATB Financial on the project financing of the East Strathmore 20 MW Solar Project in Alberta. Calgary-based senior associate Tyrel Henderson is also highlighted for his ‘excellent work‘.

Canada > Cannabis Tier 2

The team at Torys specializes in medical cannabis matters and is equipped to advise on the full spectrum of medicinal issues, including IP, commercial and regulatory issues. The practice is also known for its cross-border offering, with experts located in both its Canadian and US offices. Together, Eileen McMahon and Cheryl Reicin lead the practice. McMahon is a regulatory and IP expert in matters concerning cannabis products and accessories. In addition, she was elected by the Food and Drug Law Institute to be a keynote speaker at its conference, ‘Legal and Practical Issues in the Evolving World of Cannabis Regulation’. Reicin’s clients include the whole spectrum of life science companies, including start-ups, venture capitalists, academic medical centres and cannabis and cannabinoid-based companies.

Canada > Competition and antitrust Tier 2

In addition to advising clients on behavioural antitrust matters, the practice at Torys is also well-regarded for its non-contentious expertise and routinely handles complex transactions. Dany Assaf recently acted for George Weston Limited alongside Adrienne DiPaolo whereby they oversaw all competition aspects of its $1.1bn sale of its Weston Foods fresh and frozen bakery business. Assaf also co-leads the practice with Omar Wakil and Linda Plumpton, all are based in Toronto. Plumpton’s practice focus lies within litigation, and she boasts a track record in the handling of class action cases, foreign investment reviews and investigations.  

Energy and natural resources > Mining Tier 2

‘A top firm in structuring complex deals,’ Torys is distinguished by its focus on M&A, corporate finance and streaming transactions. From its Toronto platform, the group acts for a mix of domestic and international mining companies, financial institutions and specialty lenders and also supports the wider firm’s enviable roster of private equity and pension fund clients on industry investment matters. Among its highlights, Michael Amm paired up with the corporate and securities team to advise Zijin Mining Group on its C$960m acquisition of Neo Lithium Corp. Department head Michael Pickersgill is highlighted together with impressive senior associate Braden Jebson for their understanding of ‘the sector, the precedents and the nuances of complex structuring.’

Canada > Environment Tier 2

The team at Torys plays a prominent role in the coverage of both ESG and climate change issues. Clients such as Enbridge Gas and CIBC Pembina Pipeline benefit from the team’s governance model and ESG policy expertise. In addition to non-contentious expertise, the team is also well-equipped to oversee high-profile and complex litigation, having acted as lead counsel in over 50 major environmental disputes before all levels of court, including the Supreme Court of Canada. Dennis Mahony is best known for overseeing major infrastructure projects through obtaining appropriate approvals and leading advocacy on cases, meanwhile Michael Fortier‘s specialisms include advising international companies on environmental issues arising from their projects, deals and disputes. Tyson Dyck is noted for his advice to major financial institutions facing sensitive ESG issues.

Canada > Intellectual property Tier 2

Torys has been especially active in the life sciences sector of late though also caters to names from the retail, agriculture, food, technology, media, sports, telecommunication and gaming industries, among others, serving as a one-stop shop across the full lifecycle of IP mandates. Eileen McMahon is a patent agent in both the US and Canada with 30 years of experience under her belt; she co-leads the team from Toronto alongside acquisition, exploitation and enforcement specialist, Edward Fan, and Andrew Shaughnessy who enjoys a prominent track record in patent and trademark infringement litigation, including those before the Supreme Court of Canada. Teresa Reguly supports clients involved in the sale of regulated pharmaceutical, medical device and biotechnology products with Andrew Bernstein delivering significant prowess in patent, copyright and trademark disputes, including those within the IT, media and life sciences industries. At the more junior end, counsel Nicole Mantini is a further star name on the contentious side and is highly regarded among international and North American pharmaceutical companies.

Canada > International expertise Tier 2

Torys‘ international work spans the globe though its well-staffed New York office marks it as a particularly popular choice for US-based clients, as well as Canadian clients looking for support on US-related matters. Private equity and pension funds remain key sources of work, but the firm advises an array of industry clients on cross-border M&A, infrastructure projects, securities offerings and other matters. New York-based Tara Mackay is New York- and Ontario-qualified and brings to bear expertise in cross-border infrastructure projects. Private equity specialist Jared Fontaine is also a key contact in New York, while M&A specialist John Emanoilidis and corporate and securities partner Michael Amm are both noted in Toronto.

Canada > Real estate Tier 2

Torys serves a roster of owners, developers, investors and lenders, supporting on sales, purchases, joint ventures, large-scale developments and major infrastructure projects. Sabrina Gherbaz is well-regarded for her work on transit-oriented and mixed-use schemes, in addition to her leasing and investment trust work; she serves as practice co-head alongside Graham Rawlinson, an expert in all facets of real estate with specialist knowledge of the retail, hospitality and office sectors. David Dell brings 30 years’ experience in overseeing shopping centre, mixed-use commercial and recreational development projects to the table, meanwhile Andy Gibbons is a star practitioner for real estate matters within the energy field. Named lawyers are based at the Toronto office.

Canada > Restructuring and insolvency Tier 2

Torys often advises credit unions, banks and insurance companies on matters arising from the resolution and regulation of distressed financial institutions. Expertise extends into resolution planning, living wills, winding-ups and bail-in regimes and the team is also proficient in overseeing in-court and non-insolvency restructurings. Toronto-based David Bish and Tony Demarinis co-lead the practice. Bish’s practice focus lies within advising clients through distressed circumstances, while DeMarinis is well-versed in the oversight of recapitalizations, debt exchanges and CCAA proceedings. Julie Himo  joined the team from Norton Rose Fulbright.

Canada > Tax Tier 2

Torys‘ institutional relationships with major private equity players, banks, pension funds and corporations translates into a thriving transactional tax practice, which excels in complex M&A, capital markets and finance-related matters. Cross-border work is another sweet spot, with the firm routinely pairing up with its New York office to provide multi-jurisdictional advice. Jerald Wortsman leads the group and is highly regarded for his record in domestic and international corporate tax planning. Other key contacts for transactional tax include Corrado Cardarelli, Gwen Watson and Calgary-based Craig Maurice, who specializes in energy and natural resources tax. The department also houses robust contentious expertise, with Martha MacDonald a key contact for tax litigation involving transfer pricing, tax avoidance and foreign tax credits, among other issues. Named practitioners are based in Toronto unless otherwise stated.

Canada > Technology Tier 2

The practice at Torys is entrusted by an array of clients ranging across many industries such as energy, pensions, sports, entertainment, real estate and healthcare. The team’s expertise range from the development, licensing and acquisition of technology to matters of IP and the commercialization of IT.  Adam Armstrong and Joel Ramsey co-lead the team from Toronto. Armstrong’s practice focus concerns outsourcing transactions and software, in addition to blockchain technology. Ramsey is well regarded for his extensive knowledge in technology development and procurement, data distribution and fintech. Ebad Rahman and Jessica Lumiere are other key contacts, while Julie Himo  joined the team from Norton Rose Fulbright.

Canada > Dispute resolution: Ontario Tier 2

Torys, a market leading firm in the Ontario market, is frequently engaged by prominent companies, both domestic and international, when faced with business-critical, multi-faceted litigation. Linda Plumpton is widely regarded as a leading figure within the corporate and commercial, competition, class action defence and securities disputes field, serving as practice co-head alongside Gillian Dingle, a lawyer who routinely supports leading capital market players in professional liability claims, securities class actions and regulatory investigations. Further standouts include Sheila Block, a provider of first-rate IP, defamation and administrative law dispute capabilities, as well as Sarah Whitmore whose strengths lie in employment, media and public law affairs. Over in Montreal, Sylvie Rodrigue fronts the local offering, leveraging a broad breadth of knowledge in civil and product liability, privacy, consumer protection, tort, gaming, banking and negligence claims; she is supported by Christopher Richter, a frequent advisor on the contentious elements of corporate deals, in addition to Marie-Ève Gingras, considered a rising star for product liability, consumer complaint, public law and price-fixing litigation.

Canada > Indigenous law Tier 3

Torys‘ practice handles both contentious and non-contentious matters such as Indigenous risks and aspects arising from M&A, investments, commercial arrangements, projects and restructurings. Indigenous entities also often rely on the team to oversee dispute resolution and counsel, including land claims and Indigenous consultation. Valerie Helbronner and John Terry lead the team from Toronto. Helbronner’s focus lies within the involvement of Indigenous communities in infrastructure projects. Terry’s litigation expertise extends into constitutional and treaty rights. Brianne Paulin joined the team in February 2022 from Aldridge & Rosling.

Canada > Public procurement Tier 3

The team at Torys integrates its procurement advice with its commercial group to offer clients seamless and comprehensive procurement expertise. Particular focus lies within procurement process design, document and policy creation, regulatory issues and trade agreements. The practice is led by Philip Symmonds who is based in Toronto and enjoys particular expertise in government procurement-related work.

Canada > Dispute resolution: Quebec Tier 3

Torys, a market leading firm in the Ontario market, is frequently engaged by prominent companies, both domestic and international, when faced with business-critical, multi-faceted litigation. Linda Plumpton is widely regarded as a leading figure within the corporate and commercial, competition, class action defence and securities disputes field, serving as practice co-head alongside Gillian Dingle, a lawyer who routinely supports leading capital market players in professional liability claims, securities class actions and regulatory investigations. Further standouts include Sheila Block, a provider of first-rate IP, defamation and administrative law dispute capabilities, as well as Sarah Whitmore whose strengths lie in employment, media and public law affairs. Over in Montreal, Sylvie Rodrigue fronts the local offering, leveraging a broad breadth of knowledge in civil and product liability, privacy, consumer protection, tort, gaming, banking and negligence claims; she is supported by Christopher Richter, a frequent advisor on the contentious elements of corporate deals, in addition to Marie-Ève Gingras, considered a rising star for product liability, consumer complaint, public law and price-fixing litigation.

Canada > International trade Tier 4

With a particularly strong record in contentious trade work, Torys‘ trade practice excels in investment treaty arbitrations and other complex trade-related disputes. The group also provides ongoing compliance advice on such matters as anti-corruption, economic sanctions and export control issues. International arbitration specialist John Terry heads the group and advises corporations and government entities on free-trade treaties and WTO matters. Senior associate Ryan Lax actively provides support.

Canada > Labour and employment Tier 4

Torys advises on a varied mix of transactional support work, labour relations, executive hiring and dismissals, compliance and litigation. Lisa Talbot leads the employment litigation and advisory practice and has strong experience in representing large Canadian employers on overtime-related cases and other employment class actions. Key support is provided by Jennifer Lennon, who has a focus on compensation arrangements, and counsel Darryl Hiscocks, who handles all areas of human resources and labour law. Mitch Frazer chairs the overarching Toronto-based pensions and employment practice.

Canada > Legal market overview