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Mohammad AlGhamdiManagerCorporate financingSABIC
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Osler Hoskin & Harcourt
Financial services regulatory is one of the key pillars of Osler Hoskin & Harcourt's structure. The relationships with banks and financial instructions are clear through all practice areas. The firm maintains these relationships throughout its offices across Canada and in New York. One competitor says, "Osler has a good national practice and a good M&A team." One client from a regulatory advisory group says: "Overall Osler has supported us very well over the years. The issues we deal with are very complex, usually ground breaking and so we look for the top lawyers." Notably the firm lost banking partner Michael Matheson to Blake Cassels & Graydon in February 2013. Competitors suggest that this will be a blow to the group. The firm has added new partners to that practice group including Kevin Morley in January 2013 from Norton Rose Fulbright.
The financial services regulatory group acts for major Canadian banks and foreign bank subsidiaries as well as the Canadian Banker Association, where it has helped to recommend and craft regulations. One client from a national bank comments: "Stephen Clark is one of the three top financial services lawyers in Canada. They have an extensive regulatory framework and practice understanding, for creating and advising a bank." Over the last year the team have focused on assisting clients with establishing co-branded credit cards and debt agreements. They advised Shoppers Drug Mart in September 2012 on the creation and issuance by Royal Bank of Canada (RBC) of their co-brand debit card and co-brand credit card, the first of its kind in Canada to tie a debit account to a loyalty points program. Group head and partner Clark led a team which counseled RBC on its C$3.8 billion ($3.66 billion) acquisition of 100% of the shares of Ally Credit Canada and ResMor Trust Company, closed in February 2013.
The banking team, which is well integrated with the financial services team, promoted Joyce Bernasek to partner in March 2013. Bernasek advised the Ontario Teachers' Pension Plan on the C$1.1 billion acquisition funding for Q9, which closed in October 2012. Michael Hart also stands out in the team. One client from a multinational investment bank says "Michael has a real capable mind when it comes to understanding our needs and understanding the things that we might not know that we need to."
In February 2013 the group acted for Mitel Networks in its $320 million first and second lien credit facilities. They received instructions from TD Securities, CIBC and National Bank in establishing the terms of revolving loans to CGI Group for a C$1.5 billion acquisition financing and a €1.245 billion term facility.
The capital markets team at Osler is particularly strong, especially on the debt side. Competitors say the group continues to stand out. "In bond financing Osler is typically top," one says. Another competitor adds, "They have Desmond Lee at Osler. If I were to call someone when I was conflicted it would be him."
Osler's insolvency practice also receives praise from competitors. One says, "Osler has very good people in Toronto and Montreal." As the strength in financial services and capital markets would suggest, the firm tends to act for creditors as well as court appointed monitors. The firm advised Versa Capital Management in its DIP loan to and acquisition of Bowe Bell + Howell through US Chapter 11 and under the Companies' Creditors Arrangement Act (CCAA). The team also represented Blockbuster Canada in connection with its C$70 million US Chapter 11 and stalking horse auction process in connection with the Blockbuster parent company. The group is also advising PricewaterhouseCoopers as receiver in Atikokan Forest Products insolvency proceeding, which as of May 2013 were undergoing a sale of their assets.
Osler, Hoskin & Harcourt LLP
PO Box 50
1 First Canadian Place
Canada M5X 1B8
Tel: +1 416 362 2111
Fax: +1 416 862 6666
Contact: Dale Ponder, Managing Partner
Tel: +1 416 862 6500
Internationally recognized as a Canadian market leader in M&A, capital markets, tax, litigation, competition and other specialty practices. Osler, Hoskin & Harcourt LLP advises Canadian and international clients from offices across Canada and in New York.
There are no rankings or editorial available for this office.
620 8th Avenue
New York, NY
Tel: +1 212 867 5800
Fax: +1 212 867 5802
Contact: Randall Pratt, New York Managing Partner
Tel: +1 212-991-2532
Internationally recognized as a leading Canadian law firm, Osler,
Hoskin & Harcourt LLP offers a "one-stop" North American
cross-border service centered in our New York office, providing US and
Canadian legal services for business critical matters. Osler has
Canadian offices in Toronto, Montréal, Calgary and Ottawa.
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