Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1518995
30 www.lexpert.ca Canadian Law Awards Canadian Law Awards Roger Simard, acted for Laurentian Bank of Canada. Fasken Martineau DuMoulin LLP advised Scotiabank, CIBC Bank, and PricewaterhouseCoopers LLP with a team led by Alain Riendeau. Davies acted for Revera, Desjardins, Fonds de Solidarité FTQ, Blackstone, and SmartCentres, with a team led by Denis Ferland, Christian Lachance, Gabriel Lavery Lepage, Natasha MacParland, and Robin Schwill. Blakes advised Investissement Québec, Otéra Capital, and Timbercreek Mortgage Servicing, with a team led by Bernard Boucher and Sébastien Guy. e last Excellence Awardee in this cate- gory is Torys' involvement with Bank of Montreal's acquisition of LoyaltyOne's AIR MILES reward business, one of Canada's most recognized loyalty programs, as part of its restructuring proceedings under CCAA. Torys assisted BMO with a team led by part- ners David Bish and Zehra Sheerazi. Under the agreement, BMO paid approxi- mately US$160 million and assumed over $1 billion in substantial liabilities of LoyaltyOne. e assumption of liabilities assured approx- imately 10 million active collectors of AIR MILES and over 300 corporate sponsors of the AIR MILES program that this iconic Canadian loyalty program will be rejuvenated. Given that the transaction was part of a cross-border court-supervised restructuring process involving a bank's acquisition of a non-banking business, it required coordi- nation with a large group of advisors to the various interested parties. Cassels Brock & Blackwell LLP acted for LoyaltyOne with a team led by Ryan Jacobs. Goodmans LLP partner Brendan O'Neill assisted the monitor, BLG acted as Canadian counsel to the administrative agent Bank of America, and Bennett Jones advised the lenders, Ad Hoc Group of Loyalty Ventures, with lead lawyer Kevin Zych. Stikeman Elliott advised Bread Financial Holdings with lead lawyers Ashley Taylor and Maria Konyukhova, and McCarthy Tétrault assisted RBC Investor Services Trust. Bank of Montreal's acquisition of LoyaltyOne's AIR MILES reward business Bennett Jones LLP (for Ad Hoc Group of Loyalty Ventures Inc. lenders) Borden Ladner Gervais LLP (Canadian counsel to Bank of America, NA, as administrative agent) Cassels Brock & Blackwell LLP (for LoyaltyOne) Goodmans LLP (counsel to the monitor) McCarthy Tétrault LLP (counsel to RBC Investor Services Trust) Stikeman Elliott LLP (Canadian counsel to Bread Financial Holdings Inc.) Torys LLP (for BMO) Groupe Selection's financial restructuring under CCAA Blake Cassels & Graydon LLP (for Investissement Québec, Otéra Capital Inc., and Timbercreek Mortgage Servicing, Inc.) Davies Ward Phillips & Vineberg LLP (for Revera Inc., Desjardins, Fonds de Solidarité FTQ, Blackstone, and SmartCentres) Dentons Canada LLP (for Laurentian Bank of Canada) Fasken Martineau DuMoulin LLP (for Scotiabank, CIBC Bank, PricewaterhouseCoopers LLP) Norton Rose Fulbright Canada LLP (for National Bank of Canada) Osler Hoskin & Harcourt LLP (for Groupe Montoni, Royal Bank of Canada) Stikeman Elliott LLP (for Groupe Sélection Inc. et al.) Woods LLP Repsol's restructuring Bennett Jones LLP (for Repsol Oil & Gas Inc.) Blake Cassels & Graydon LLP (for landlords to Repsol Oil & Gas Inc.) Xebec and its affiliates' restructuring under CCAA Borden Ladner Gervais LLP (for National Bank of Canada) McCarthy Tétrault LLP (for Deloitte Restructuring Inc.) Norton Rose Fulbright Canada LLP (for Export Development Canada) Osler Hoskin & Harcourt LLP (for Xebec) INSOLVENCY AND RESTRUCTURING CANADIAN LAW FIRM INVOLVEMENT (CLIENT) e syndicate successfully saw its restruc- turing proposal – a response to Groupe Sélection's plan that it did not like – accepted by the Superior Court Quebec, and the prov- ince's Court of Appeal denied a request for leave to appeal. Stikeman Elliott LLP, led by Guy Martel and Joseph Reynaud, acted for Groupe Sélection. Osler, led by Sandra Abitan, advised Groupe Montoni and the Royal Bank of Canada. Dentons Canada LLP, led by partner THE ASSUMPTION OF LIABILITIES ASSURED [COLLECTORS AND SPONSORS] OF THE AIR MILES PROGRAM THAT THIS ICONIC CANADIAN LOYALTY PROGRAM WILL BE REJUVENATED