McCarthy Tétrault recognized by Lexpert for acting on half of 2016’s Top 10 biggest deals and four of the year’s Top 10 biggest cases
Toronto, February 6, 2017 — With the publishing of Lexpert’s Top 10 Deals and Top 10 Business decisions for 2016, McCarthy Tétrault is excited to be recognized as having acted on five of the Top 10 deals and four of the Top 10 Business Decisions of the year. As one of the preeminent guides to legal expertise in Canada, Lexpert has provided the annual list of the most important deals and cases since 2004 based on a comprehensive analysis of prevailing economic and regulatory conditions giving rise to the most important legal matters of the last 12 months.
“Year after year, McCarthy Tétrault’s lawyers are recognised for having acted on some of the most important deals in Canada and for having led precedent-setting litigation before all courts in the country. We are extremely proud of the work done by our firm members and their commitment to providing innovative solutions and exceptional outcomes to our clients,” said Dave Leonard, CEO of McCarthy Tétrault.
McCarthy Tétrault’s lawyers and professionals advised on the five following transactions (summary description below):
- Enbridge’s purchase of Spectra
- Waste Connections’ merger with Progressive Waste Solutions
- Bell’s purchase of the remaining equity in Q9 Networks
- Corus Entertainment’s acquisition of Shaw Communications
- Whistler Blackcomb Holdings’ sale to Vail Resorts
We also acted on the four following business decisions, three of which were argued before the Supreme Court of Canada (summary description below):
- Canada (National Revenue) v. Thompson, 2016 SCC 21
- Canadian Imperial Bank of Commerce v. Green, 2015 SCC 60
- Endean v. British Columbia, 2016 SCC 42
- Nortel Networks Corporation (Re), 2016 ONCA 749
Deals and decisions summary description
- Enbridge’s $37 billion merger with Spectra Energy to create the largest pipeline company in North America. McCarthy Tétrault advised Enbridge.
- The merger of Waste Connections and Progressive Waste Solutions with an associated issuance of senior unsecured notes and a revolving credit and term loan agreement with Bank of America. McCarthy Tétrault acted as local Canadian counsel to the Bank of America.
- Bell’s acquisition of all remaining equity that it does not already own in Q9 Networks from the Ontario Teachers’ Pension Plan, Providence Equity Partners, and Madison Dearborn Partners LLC. McCarthy Tétrault represented Q9 Networks.
- Corus Entertainment’s full acquisition of Shaw Communications for $2.65 billion. McCarthy Tétrault advised Corus Entertainment on all regulatory matters.
- The strategic merger of Whistler Blackcomb Holdings with Vail Resorts by way of plan of arrangement in a $1.4 billion transaction. McCarthy Tétrault advised the financial advisor to the special committee of the board of directors of Whistler.
McCarthy Tétrault also advised on and appeared before the Supreme Court of Canada and the Ontario Court of Appeal in the following matters:
- Canada (National Revenue) v. Thompson: this case was of general importance to the practice of law and client confidentiality in Canada. The Supreme Court emphasized the need to maintain solicitor-client privilege as close to absolute as possible by protecting the accounting records of lawyers and notaries from compelled production by government agencies. We successfully represented lawyer Duncan Thompson in challenging the compelled production of confidential client information.
- Canadian Imperial Bank of Commerce v. Green: this highly anticipated decision addressed a trilogy of secondary market class action cases from Ontario. The Supreme Court of Canada resolved statutory limitations issues in all three cases, and in the Green case, the Court defined the critical common law test for obtaining leave to proceed with a securities class action, and affirmed the rejection by the lower Courts of the US-style “fraud on the market” class-wide reliance theory in Canada. McCarthy Tétrault advised Imax Corporation as an appellant before the Supreme Court.
- Endean v. British Columbia: we represented the governments of seven provinces and three territories in a case that establishes an important framework for the conduct of national class actions in Canada. The decision of the Supreme Court of Canada confirms the inherent authority of judges to craft pragmatic procedural solutions, including the authority to sit in another province to manage multijurisdictional proceedings.
- Nortel Networks Corporation (Re): McCarthy Tétrault successfully represented the pension plan administrator for Canadian pension plans, which was one of the members of the Canadian Creditors’ Committee, before the Ontario Court of Appeal in litigation regarding the distribution of Nortel’s remaining assets, maintained in a “Lockbox Fund”. The litigation relates to approximately $7.3 billion in cash awaiting distribution after nearly seven years of litigation.
About McCarthy Tétrault
McCarthy Tétrault LLP provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada’s major commercial centres and in London, UK.
Built on an integrated approach to the practice of law and delivery of innovative client services, the firm brings its legal talent, industry insight and practice experience to help clients achieve the results that are important to them.