Lexpert Special Editions

Lexpert Special Edition on Litigation 2018

The Lexpert Special Editions profiles selected Lexpert-ranked lawyers whose focus is in Corporate, Infrastructure, Energy and Litigation law and relevant practices. It also includes feature articles on legal aspects of Canadian business issues.

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WWW.LEXPERT.CA | 2018 | LEXPERT 39 Prophet, Clifton P. Gowling WLG (416) 862-3509 clifton.prophet@gowlingwlg.com Mr. Prophet is a partner and leader of Gowling WLG's Restructuring and Insolvency National Practice Group. He practises restructuring and insolvency, with a focus on litigation. His experience includes significant retainers for Canadian financial institutions, creditors, monitors, receivers, trustees in bankruptcy and corporate debtors. He is a member of the Insolvency Institute of Canada. Préfontaine, Éric Osler, Hoskin & Harcourt LLP (514) 904-5282 eprefontaine@osler.com Mr. Préfontaine is a Key Contact of Osler's national Class Actions Specialty Group and an experienced class actions practitioner with specialized expertise in the defence of consumer protection, product liability, and securities matters. While leading the firm's class action matters in Québec, he also consistently brings his expertise to multi-jurisdictional matters for firm strategic clients. Prather, Valerie R. Bennett Jones LLP (403) 298-3486 pratherv@bennettjones.com Ms. Prather is co-head of Bennett Jones' Health Law group. Her practice focuses on professional negligence and administrative law. She represents physicians before the courts when they are sued for medical negligence and provides assistance in dealing with professional conduct issues before the College of Physicians and Surgeons and various hospital administrative tribunals. Pliszka, Peter J. Fasken Martineau DuMoulin LLP (416) 868-3336 ppliszka@fasken.com Mr. Pliszka, a senior partner in Fasken's Litigation Group, is regarded as one of Canada's leading litigation lawyers. His practice is focused primarily on product liability, class action, commercial and insurance litigation matters. He has managed litigation proceedings across Canada, and has appeared at all levels of court in the nation, including the Supreme Court of Canada. Pillon, Elizabeth Stikeman Elliott LLP (416) 869-5623 lpillon@stikeman.com Ms. Pillon is a partner in the Litigation Group and Head of Toronto's Restructuring & Insolvency Group. She is experienced in Ontario and cross- border restructurings and has appeared before various courts nationwide. She represents debtors, Court Officers, secured creditors, purchasers of distressed assets, administrators and has been appointed as representative counsel in proceedings. Picco, QC, FCIArb, Dennis L. Dentons Canada LLP (780) 423-7322 dennis.picco@dentons.com As a partner in the Firm's Litigation and Dispute Resolution group, Mr. Picco's practice focuses on contract disputes, construction, risk management and insurance. He represents various companies in the construction industry, including architects and engineers in professional liability disputes, and counsels clients in the areas of intellectual property, commercial and contractual disputes. LEXPERT-RANKED LAWYERS they are not yet in force. Both would make benchmark manipulation a specific offence, Laing adds. ere are two forms of benchmark that tend to be at issue in class action litigation: submission- based and transaction-based. Submission-based benchmarks are developed by individual market participants submitting figures at daily or regu- lar intervals, which are used as inputs to develop a benchmark rate. e latter "is based on market activity; whatever the market price is at a certain point in time will become a benchmark. We've seen class actions premised on both … forms in Canada," Laing explains. "ere have also been changes in policies, pro- cedures and compliance mechanisms around the way various benchmarks are set," she says. Class- action lawsuits in benchmark cases may be "a trend right now, but I don't think we'll see endless benchmark class actions in Canada; the issues that provoked them have been addressed through these various mechanisms." As well, since this is a new form of class action that has not been analyzed to any meaningful ex- tent by Canada's courts, there are many questions about how this litigation will play out, Laing says. Benchmark cases are essentially a hybrid between securities class actions and competition class ac- tions, she notes, and a benchmark is not itself a product, but an "input" that can affect how deriva- tives and financial products are priced. "It is not like a conventional product, the pricing of which tends to be at issue in a competition class action, so novel defences and arguments arise." PHOTO: SHUTTERSTOCK

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