Lexpert®Ranked Lawyers
Keough, Loyola G.
Bennett Jones LLP
(403) 298-3429
keoughl@
bennettjones.com
Mr. Keough is a
member of the
fi rm's Regulatory/
Environmental
department. He has
particular experience
in oil, gas, electricity,
LNG, rates, facilities
and environmental
matters. His clients
include utilities, buyers,
producers, shippers
and banks.
Kirsh, Harvey J.
Glaholt LLP
(416) 368-8280
hkirsh@glaholt.com
Mr. Kirsh is one of
Canada's leading
arbitrators, mediators
and litigators in
resolving complex
construction claims
arising out of P3,
infrastructure, energy,
mining, transportation,
industrial, commercial
and institutional
projects.
Krupat, Howard
Davis LLP
(416) 365-3510
hkrupat@davis.ca
Mr. Krupat's
infrastructure and
construction practice,
including claims,
encompasses all
construction industry
sectors, as well as
energy projects.
He acts for owners,
contractors, suppliers,
trades, design
professionals
and engineers.
Kierans, David B.
Gowling Lafl eur
Henderson LLP
(514) 392-9551
david.kierans@
gowlings.com
Mr. Kierans practises
in corporate and
commercial law with
particular emphasis on
secured lending, real
estate acquisition and
fi nance, asset-backed
and project fi nancing.
His experience
includes energy-
generation projects and
P3 project fi nance.
Kraag, Scott
Torys LLP
(416) 865-7980
skraag@torys.com
Mr. Kraag emphasizes
infrastructure
development, the
renewable energy
sector and mining in
his project fi nance
practice. He represents
lenders, sponsors,
equity investors,
underwriters,
contractors, service
providers and public
authorities.
Kussner, Barnet H.
WeirFoulds LLP
(416) 365-1110
bkussner@
weirfoulds.com
Mr. Kussner's
municipal law practice
includes a focus
on P3s, municipal
capital facilities and
Official Plan reviews.
He regularly acts
as counsel before
the OMB and has
appeared at all court
levels, including the
Supreme Court
of Canada.
The North | 21
Government of Nunavut will make a milestone payment of
$68.7 million during construction, while P3 Canada will
pay $72 million. AIP will pay the rest of the $298.5-million
project cost, as incurred, and the Nunavut Government will
pay it back, plus profi t, over the life of the project. Expressed
in terms of net present value, the project cost is $418 million
— or about $100 million less than a pure government proj-
ect, according to a report by Borden Ladner Gervais LLP
(BLG), which helped assemble the deal.
"In the North, there can be some unique needs," says con-
struction lawyer Sharon Vogel of BLG in Toronto. e sea-
li window, for moving material and equipment to Baffi n
Island, is very short and "if you miss anything, you know
you're going to face the expense of having to air-li it in,"
she says.
e project agreement commits AIP to local hiring and
training of 15 per cent of the construction workforce, as well
as an initial 20 per cent of the operating contingent, rising to
60 per cent in fi ve years. "It's a preferential-treatment type of
policy and those are always tricky to implement," Vogel says.
But it means more trained and accredited tradespeople will
be locally available for the next project.
Michael Ledgett, co-chair of Dentons Canada LLP's P3
and Infrastructure Group, says the North has "huge proj-
ects that need to be done," and P3s will be part of the solu-
tion, eventually.
" ey're a great alternative for the North because they
don't rely on local capacities." But he predicts they'll be "few
and far between" until a P3 model is cra ed that works to
meet the needs of disparate groups with scarce funds.
Project proponents need to fi nd a partnership model that
binds together federal, territorial and various Aboriginal in-
terests with those of the corporate sector, Ledgett says. And
even participating federal departments can come to the ta-
ble with confl icting expectations that undermine projects.
A key requirement for P3 success is that projects be large
enough to attract investors and builders from the private
sector. en there has to be a revenue model that works, in
spite of the small population, to fund all or part of a large
project. "It's not free money," he observes.
"P3s work really, really well in highly populated areas,"
Ledgett says. " ey work less well in the North."
From his own experience in Northern water and waste-
PHOTO: SHUTTERSTOCK
