Carol Pennycook is a partner practising in the area of corporate finance and securities and general corporate and commercial law. Her practice includes corporate finance, banking, mergers and acquisitions and corporate reorganization transactions.

Carol has acted as counsel in major complex corporate reorganizations, plans of arrangement and going private transactions, reorganization of companies in connection with proceedings under the Companies' Creditors Arrangement Act, private and public negotiated merger transactions, transactions involving the acquisition of both public and private companies and public-private partnership transactions. A significant portion of Carol's practice involves financing transactions. Carol has acted as counsel to borrowers, arrangers and banking syndicates in numerous project financings, medium and long-term debt offerings in the capital markets by public and private corporations, income trusts and government agencies, domestic and international syndicated bank financings, mortgage backed and other securitized financings, various structured finance transactions and credit and equity derivative transactions. She has been involved in a number of infrastructure financing transactions, including the offering of revenue bonds by the Greater Toronto Airport Authority and by 407 International Inc. and various public-private partnership transactions.  She recently led the successful restructuring of Apex Trust and Sitka Trust, issuers of over $2 billion of asset backed commercial paper.

Carol, together with Patricia Olasker, another partner of the firm, coordinates the Advanced Mergers & Acquisitions Business Law Workshop for Osgoode Hall Law School at York University. Previously, she assisted in developing the Advanced Business Law Workshop for Osgoode Hall Law School and coordinated the course for seven years. She also currently participates as a lecturer for the Advanced Business Law Program at the University of Windsor Law School. She has previously taught portions of the securities law course at the law schools of the University of Western Ontario and the University of Ottawa.  Carol was the Chair of the Advisory Committee appointed by the Government of Ontario to review Ontario's Commodity Futures Act which in 2007 delivered a report on recommendations with respect to regulation of commodities and derivatives markets in Ontario.

Prior to practising in Ontario, Carol practised in Calgary, Alberta in the area of securities, corporate and oil and gas law and is a member of the Alberta Bar as well as of Ontario. She also practised with the Corporate Finance Branch of the Ontario Securities Commission during a secondment program in 1984.

Carol has been a speaker at a number of conferences, most recently speaking on issues relating to derivative products and investing and lending by financial institutions. She is also on the editorial board of Canadian Corporation Precedents and Canadian Securities Law Precedents (Carswell). 

Carol is recognized in the areas of banking, corporate & commercial, corporate finance & securities, derivative structures and project finance in the Canadian Legal LEXPERT Directory. She is cited in IFLR 1000's Guide to the World's Leading Financial Law Firms as a leading lawyer and key contact in both banking and project finance; for the past six years in Chambers Global's The World's Leading Lawyers for Business as a leading practitioner in banking & finance and Projects: PPP and is regarded as "as exceptional multidisciplinary banking lawyer: extremely knowledgeable, pragmatic and fantastic at protecting her clients' interests and seeking the effective middle ground"; and in PLC Which Lawyer? as recommended in the area of banking and finance.  Carol has also been listed in Euromoney Legal Group's Guide to the World's Leading Structured Finance Lawyers and Guide to the World's Leading Banking Lawyers, Who's Who Legal's The International Who's Who of Banking Lawyers and The International Who's Who of Business Lawyers and in LEXPERT/American Lawyer Media's Guide to the Leading 500 Lawyers in Canada as a leading lawyer in the areas of banking and financial institutions, corporate & commercial law, corporate finance and project finance.  Carol has received Martindale-Hubbell's highest ranking.

Carol received her LL.B. from the University of Calgary and joined the firm as a partner in 1986.