Our Practice
Our pensions & benefits practice advises clients on a wide range of pensions and benefits issues including: mergers & acquisitions, divestitures, restructurings, insolvencies, outsourcings and other corporate reorganizations; plan surpluses and deficits; governance and fiduciary obligations; termination and partial plan wind ups; funding and investment; taxation; creditor protection of retirement income arrangements; pensions and benefits plan design; design and administration of executive compensation arrangements; post-retirement benefits; supplementary pensions; and pension litigation before regulatory tribunals and courts.
Our pensions & benefits practice is multi-disciplinary, drawing on expertise from the core practice areas of the firm such as mergers & acquisitions, taxation, litigation, financial restructuring & insolvency, corporate governance and trusts & estates.
Our Clients
We have acted for employers, pensions and benefits plan sponsors and administrators, human resources consulting firms, actuaries, pension committees, officers and directors, trustees, public pension funds, governments and pension regulators.
Our Work
Below is a sampling of some of the publicly-known matters in which we have been involved:
- Abitibi-Consolidated Inc. has announced a definitive agreement with Bowater Inc. to combine in an all-stock merger of equals. The combined entity, AbitibiBowater Inc., will be the third largest public paper and forest products company in North America. In addition to representing Abitibi-Consolidated Inc. on corporate finance and securities, environmental, tax and employment law matters, Davies is advising Abitibi-Consolidated Inc. with respect to pensions and benefits matters related to the transaction;
- With the support of several Concordia University unions, Richard Bisaillon launched a class action on behalf of all employees of the University based on amendments to the pension plan obtained by some of the unions. The Quebec Superior Court dismissed the action. The Quebec Court of Appeal overturned this judgment and on May 18, 2006 the Supreme Court of Canada overturned the judgment of the Quebec Court of Appeal and restored the judgment of the Superior Court. Davies successfully defended Concordia University in proceedings before the Supreme Court of Canada;
- Abitibi-Consolidated Inc. sold a pulp mill to the newly-created SFK Pulp Fund income fund. Davies represented Abitibi-Consolidated Inc. on the pension plan transfer in the sale;
- Amcor Ltd. acquired Rexam Plc’s healthcare flexibles packaging operations, involving 10 countries in Europe, North America, South America and Asia. Davies advised Amcor Ltd. on the review and negotiation of international pension and employee benefits matters; and
- Deutsche Bank entered into an agreement with Air Canada in connection with Air Canada’s restructuring under the Companies’ Creditors Arrangement Act. Davies acted for Deutsche Bank on financial restructuring and insolvency, litigation, corporate finance and securities and pensions and benefits matters related to the agreement.
Organizational Leadership
Members of our group are involved with the Law Society of Upper Canada, the Québec Bar Association, the Ontario/Canadian Bar Association, Pensions and Benefits section, the Canadian Pension and Benefits Institute, the Association of Canadian Pension Management and the International Pension and Employee Benefits Lawyers Association.
