Derek D. Ricci

Partner

Derek D. Ricci

Derek D. Ricci

Partner

Derek positions his clients for success with his extensive experience litigating a wide range of complex commercial disputes, including class actions and mining, securities, fraud and asset recovery, competition and product liability cases.

Derek has been lead counsel on several trials, appeals and motions before a variety of courts and tribunals across Canada, including trial and appellate courts in various provinces, the Ontario Securities Commission and the Competition Tribunal. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations. Derek also has extensive experience in commercial arbitration, both domestically and internationally.

Derek is the sole representative for Toronto of ICC FraudNet, an invitation-only global network of fraud and asset recovery legal specialists administered by the International Chamber of Commerce. He is also a frequent author and speaker for continuing education programs on commercial litigation and advocacy.

Derek D. Ricci

Partner

Derek positions his clients for success with his extensive experience litigating a wide range of complex commercial disputes, including class actions and mining, securities, fraud and asset recovery, competition and product liability cases.

Derek has been lead counsel on several trials, appeals and motions before a variety of courts and tribunals across Canada, including trial and appellate courts in various provinces, the Ontario Securities Commission and the Competition Tribunal. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations. Derek also has extensive experience in commercial arbitration, both domestically and internationally.

Derek is the sole representative for Toronto of ICC FraudNet, an invitation-only global network of fraud and asset recovery legal specialists administered by the International Chamber of Commerce. He is also a frequent author and speaker for continuing education programs on commercial litigation and advocacy.

Mobile Content:

Shaw Communications Inc.

Acting for Shaw Communications Inc. in its joint C$2.85-billion sale with Rogers Communications Inc. of Freedom Mobile Inc. to Quebecor Inc.

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Centerra Gold Inc.

Acting for the special committee of independent directors of Centerra Gold Inc. in connection with its evaluation of strategic alternatives following the imposition by the Kyrgyz Republic of external management over the Kumtor Mine in May 2021.

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Denso Corporation

Acting for Denso Corporation and related entities in product liability class actions commenced in various jurisdictions across Canada relating to Denso's fuel pump. There are parallel actions commenced in the United States.

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Willoughby Asset Management Inc.

Acting for Willoughby Asset Management Inc., a large unitholder, in connection with Bridging Finance Inc.'s court-appointed receivership proceedings amidst allegations of fraud and misconduct.

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Vale Canada Limited

Acting for Vale Canada Limited in a proceeding before the Ontario Superior Court of Justice (Commercial List) involving claims for damages by Vale of more than $650 million in connection with alleged breaches by Solway Group, an Eastern European mining company, of various royalty agreements relating to a nickel mining project in Guatemala.

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TransAlta Corporation

Acted for TransAlta Corporation in defending an oppression action brought by Mangrove Partners, a minority shareholder. Mangrove sought to set aside a $750-million strategic transaction entered into between TransAlta and Brookfield Renewable Partners.

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The Federal Republic of Nigeria

Acting on behalf of the Federal Republic of Nigeria in Canadian proceedings involving the country's efforts to recover assets, including a private jet, from the key figure in the "Malabu Oil Scandal," one of Africa's biggest corruption cases.

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Confidential Client

Acting for a large international bank in connection with an alleged global price-fixing conspiracy related to supra-sovereign, sovereign and agency bonds (SSA bonds).

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TransAlta Corporation

Acted for TransAlta Corporation in defending successfully "public interest" proceedings initiated against TransAlta by Mangrove Partners before the Ontario Securities Commission and Alberta Securities Commission in respect of the election of Directors of TransAlta at its Annual Meeting on April 26, 2019, and concerning a $750 million financing transaction entered into between TransAlta and Brookfield Renewable Partners.

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Confidential Client

Acted for a blockchain company in connection with confidential enforcement matters before Canadian securities authorities.

Bulletin
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If It Ain’t Broke… Davies Comments on Draft Capital Markets Act

Feb. 25, 2022 - Davies has submitted a comprehensive comment letter on a new Capital Markets Act (CMA) proposed by the Ontario Ministry of Finance, on the recommendation of the Capital Markets Modernization Taskforce, to replace the Ontario Securities Act. Although some modifications to Ontario...

Bulletin
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OECD Report: The Role of Corporations in Fighting White Collar Crime Enablers

Apr. 12, 2021 - The Organisation for Economic Co-operation and Development (OECD) published a report in February 2021 titled “Ending the Shell Game: Cracking Down on the Professionals Who Enable Tax and White Collar Crimes” (Report), which highlights the role that “professional enablers” play in the commission of...

Speaking Engagement
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The Advocates’ Society, “Top Cases in Commercial Litigation”; Webcast

Feb. 25, 2021

Bulletin
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Buyer Beware: In Canada’s First COVID-19 “Busted Deal” Decision, Court Finds That Duo Bank Cannot Terminate Its Acquisition of Fairstone Financial

Dec. 15, 2020 - The economic dislocation caused by the COVID-19 pandemic has led to an uptick in “busted deal” litigation in M&A transactions in the United States and Canada. 1 The crux of the litigation is whether the buyer may abandon the transaction without penalty on the basis of allegations that the pandemic...

Bulletin
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Davies Highlights Concerns with Proposals to Modernize Ontario’s Capital Markets

Sept. 09, 2020 - Davies has submitted a comprehensive comment letter to the Capital Markets Modernization Taskforce (Taskforce) in response to the consultation report published by the Taskforce on July 9, 2020 (Report). The Taskforce was formed by the Ontario government in February 2020 with a mandate to review...

Bulletin
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Top Court Expands Scope of Potential Liability in Price-Fixing Class Actions

Sept. 24, 2019 - The Supreme Court of Canada has released its long-awaited decision in two companion appeals that have significant implications for class actions alleging conduct that contravenes the criminal provisions found in Part VI of the Competition Act (Act). In its decision in Pioneer...

Speaking Engagement
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Speaker and Demonstrator, The Advocates’ Society, “Evidence for Litigators”; Toronto, ON

Nov. 29, 2018

Speaking Engagement
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Speaker, The Advocates’ Society, “Top Commercial Cases of 2017”; Toronto, ON

Mar. 07, 2018

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Chambers Canada: Canada’s Leading Lawyers for Business—Litigation, General Commercial: Ontario

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Lexpert Rising Stars: Leading Lawyers Under 40

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Benchmark Canada Awards—Emerging Talent of the Year Award (2018)

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Benchmark Canada Impact Case of the Year Award (2019)—Recipient

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Benchmark Canada: The Definitive Guide to Canada’s Leading Litigation Firms & Attorneys—Commercial (Litigation Star); Securities (Litigation Star)

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The Legal 500 Canada—Dispute Resolution: Ontario (Next Generation Partner)

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Lexpert Special Edition: Litigation

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Lexpert Special Edition: Mining

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Telfer School of Management—Young Achievers Award (2019)

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The Canadian Legal Lexpert Directory—Class Actions; Litigation: Corporate Commercial; Litigation: Securities

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Who’s Who Legal: Litigation—Future Leaders

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Chambers Canada Award—Litigation Firm of the Year (2018)

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Chambers Canada: Canada’s Leading Lawyers for Business—Litigation, General Commercial Department: Ontario (Band 1 for firm)

Bar Admissions
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Ontario, 2006

Education
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University of Western Ontario, LLB (with Distinction, Dean’s List), 2005
University of Ottawa, BComm (English & French) (Cum Laude), 2002

Professional Affiliations
Mobile Content:

ICC FraudNet
Ontario Bar Association
The Advocates’ Society
Toronto Lawyers Association

Community Involvement
Mobile Content:

Minor hockey, volunteer goalie coach
Ontario Securities Commission, Litigation Assistance Program, volunteer counsel
The Advocates’ Society, Commercial Litigation Practice Group, former Co-Chair
University of Ottawa, Executive Mentorship Program

Derek positions his clients for success with his extensive experience litigating a wide range of complex commercial disputes, including class actions and mining, securities, fraud and asset recovery, competition and product liability cases.

Derek has been lead counsel on several trials, appeals and motions before a variety of courts and tribunals across Canada, including trial and appellate courts in various provinces, the Ontario Securities Commission and the Competition Tribunal. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations. Derek also has extensive experience in commercial arbitration, both domestically and internationally.

Derek is the sole representative for Toronto of ICC FraudNet, an invitation-only global network of fraud and asset recovery legal specialists administered by the International Chamber of Commerce. He is also a frequent author and speaker for continuing education programs on commercial litigation and advocacy.

Shaw Communications Inc.

Acting for Shaw Communications Inc. in its joint C$2.85-billion sale with Rogers Communications Inc. of Freedom Mobile Inc. to Quebecor Inc.

Centerra Gold Inc.

Acting for the special committee of independent directors of Centerra Gold Inc. in connection with its evaluation of strategic alternatives following the imposition by the Kyrgyz Republic of external management over the Kumtor Mine in May 2021.

Denso Corporation

Acting for Denso Corporation and related entities in product liability class actions commenced in various jurisdictions across Canada relating to Denso's fuel pump. There are parallel actions commenced in the United States.

Willoughby Asset Management Inc.

Acting for Willoughby Asset Management Inc., a large unitholder, in connection with Bridging Finance Inc.'s court-appointed receivership proceedings amidst allegations of fraud and misconduct.

Vale Canada Limited

Acting for Vale Canada Limited in a proceeding before the Ontario Superior Court of Justice (Commercial List) involving claims for damages by Vale of more than $650 million in connection with alleged breaches by Solway Group, an Eastern European mining company, of various royalty agreements relating to a nickel mining project in Guatemala.

TransAlta Corporation

Acted for TransAlta Corporation in defending an oppression action brought by Mangrove Partners, a minority shareholder. Mangrove sought to set aside a $750-million strategic transaction entered into between TransAlta and Brookfield Renewable Partners.

The Federal Republic of Nigeria

Acting on behalf of the Federal Republic of Nigeria in Canadian proceedings involving the country's efforts to recover assets, including a private jet, from the key figure in the "Malabu Oil Scandal," one of Africa's biggest corruption cases.

Confidential Client

Acting for a large international bank in connection with an alleged global price-fixing conspiracy related to supra-sovereign, sovereign and agency bonds (SSA bonds).

TransAlta Corporation

Acted for TransAlta Corporation in defending successfully "public interest" proceedings initiated against TransAlta by Mangrove Partners before the Ontario Securities Commission and Alberta Securities Commission in respect of the election of Directors of TransAlta at its Annual Meeting on April 26, 2019, and concerning a $750 million financing transaction entered into between TransAlta and Brookfield Renewable Partners.

Confidential Client

Acted for a blockchain company in connection with confidential enforcement matters before Canadian securities authorities.

Bulletin

If It Ain’t Broke… Davies Comments on Draft Capital Markets Act

Feb. 25, 2022 - Davies has submitted a comprehensive comment letter on a new Capital Markets Act (CMA) proposed by the Ontario Ministry of Finance, on the recommendation of the Capital Markets Modernization Taskforce, to replace the Ontario Securities Act. Although some modifications to Ontario...

Bulletin

OECD Report: The Role of Corporations in Fighting White Collar Crime Enablers

Apr. 12, 2021 - The Organisation for Economic Co-operation and Development (OECD) published a report in February 2021 titled “Ending the Shell Game: Cracking Down on the Professionals Who Enable Tax and White Collar Crimes” (Report), which highlights the role that “professional enablers” play in the commission of...

Speaking Engagement

The Advocates’ Society, “Top Cases in Commercial Litigation”; Webcast

Feb. 25, 2021

Bulletin

Top Court Expands Scope of Potential Liability in Price-Fixing Class Actions

Sept. 24, 2019 - The Supreme Court of Canada has released its long-awaited decision in two companion appeals that have significant implications for class actions alleging conduct that contravenes the criminal provisions found in Part VI of the Competition Act (Act). In its decision in Pioneer...

Speaking Engagement

Speaker and Demonstrator, The Advocates’ Society, “Evidence for Litigators”; Toronto, ON

Nov. 29, 2018

Speaking Engagement

Speaker, The Advocates’ Society, “Top Commercial Cases of 2017”; Toronto, ON

Mar. 07, 2018

Chambers Canada: Canada’s Leading Lawyers for Business—Litigation, General Commercial: Ontario

Lexpert Rising Stars: Leading Lawyers Under 40

Benchmark Canada Awards—Emerging Talent of the Year Award (2018)

Benchmark Canada Impact Case of the Year Award (2019)—Recipient

Benchmark Canada: The Definitive Guide to Canada’s Leading Litigation Firms & Attorneys—Commercial (Litigation Star); Securities (Litigation Star)

The Legal 500 Canada—Dispute Resolution: Ontario (Next Generation Partner)

Lexpert Special Edition: Litigation

Lexpert Special Edition: Mining

Telfer School of Management—Young Achievers Award (2019)

The Canadian Legal Lexpert Directory—Class Actions; Litigation: Corporate Commercial; Litigation: Securities

Who’s Who Legal: Litigation—Future Leaders

Chambers Canada Award—Litigation Firm of the Year (2018)

Chambers Canada: Canada’s Leading Lawyers for Business—Litigation, General Commercial Department: Ontario (Band 1 for firm)

Bar Admissions

Ontario, 2006

Education

University of Western Ontario, LLB (with Distinction, Dean’s List), 2005
University of Ottawa, BComm (English & French) (Cum Laude), 2002

Professional Affiliations

ICC FraudNet
Ontario Bar Association
The Advocates’ Society
Toronto Lawyers Association

Community Involvement

Minor hockey, volunteer goalie coach
Ontario Securities Commission, Litigation Assistance Program, volunteer counsel
The Advocates’ Society, Commercial Litigation Practice Group, former Co-Chair
University of Ottawa, Executive Mentorship Program