Derek D. Ricci

Partner

Derek D. Ricci

Derek D. Ricci

Partner

Derek’s excellent judgment, strategic mindset and practical approach have made him a go-to litigator for many clients involved in complex commercial disputes.

Derek has been lead counsel before a variety of courts and tribunals, including the Court of Appeal for Ontario, the Ontario Securities Commission and the Competition Tribunal.

Clients frequently call on Derek to manage all aspects of their complex commercial disputes across a wide range of areas, including mining cases, securities cases, asset recovery and fraud cases, class actions, competition cases, and product liability cases. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations.

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

Derek is a long-standing member of our Toronto Student Committee and a former member of our Professional Development Committee.

Derek D. Ricci

Partner

Derek’s excellent judgment, strategic mindset and practical approach have made him a go-to litigator for many clients involved in complex commercial disputes.

Derek has been lead counsel before a variety of courts and tribunals, including the Court of Appeal for Ontario, the Ontario Securities Commission and the Competition Tribunal.

Clients frequently call on Derek to manage all aspects of their complex commercial disputes across a wide range of areas, including mining cases, securities cases, asset recovery and fraud cases, class actions, competition cases, and product liability cases. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations.

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

Derek is a long-standing member of our Toronto Student Committee and a former member of our Professional Development Committee.

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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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TransAlta Corporation

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

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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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Giant Tiger Stores Limited

Acting for Giant Tiger Stores Limited in its defence of multiple class proceedings commenced across Canada (including Ontario, British Columbia, Saskatchewan, Alberta, Manitoba, Québec and the Federal Court) relating to alleged price-fixing of commercial bread products in Canada at the wholesale and retail levels.

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American International Group Inc.

Acted for a subsidiary of American International Group Inc. in successfully defending a court application brought by The Walt Disney Company regarding the arbitration of a substantial insurance coverage dispute.

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Vale Canada Limited

Acted for Vale Canada Limited and its affiliates in defending contractual claims before the Supreme Court of Newfoundland and Labrador in an amount of almost $500 million that were asserted by the Plaintiff under an Option Agreement pertaining to the Voisey's Bay Nickel Project. This case was settled in September, 2018, at the end of the first week of a four month trial that would have involved dozens of lay and expert witnesses. This was the first "hybrid trial" and first electronic trial ever conducted in the Province of Newfoundland and Labrador.

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Zimmer Biomet Holdings, Inc.

Acting for Zimmer Biomet Holdings, Inc. in defending class action proceedings in the Superior Court of Ontario concerning alleged defects in Biomet's metal-on-metal hip replacement and resurfacing devices.

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Staples, Inc.

Acted for Staples, Inc. in connection with the Competition Bureau's challenge to its proposed $6.3 billion acquisition of Office Depot, Inc.

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Nevsun Resources Ltd.

Acted for Nevsun Resources Limited in defending cross-border securities class actions in Canada and the United States. This litigation was resolved successfully following mediations in New York and Los Angeles.

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Sears Canada Inc.

Acted for Sears Canada Inc. in defending claims for approximately $100 million asserted against it by Canadian Premier Life Insurance Company arising from the termination of arrangements between the parties. This case was settled on the eve of trial in the Supreme Court of 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...

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...

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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

In the News
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Rising Stars on Video

Dec. 21, 2016 - Davies partners Jennifer Grossklaus and Derek Ricci were recently recognized as Lexpert Rising Stars: Leading Lawyers Under 40. Both earned this award for their legal talent, business acumen, major accomplishments, community participation and interpersonal skills, and for being highly respected by...

Speaking Engagement
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Speaker, Toronto Lawyers’ Association, “Corporate Transactions: Drafting to Minimize Litigation Risks”; Toronto, ON

Mar. 31, 2016

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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—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
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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’s excellent judgment, strategic mindset and practical approach have made him a go-to litigator for many clients involved in complex commercial disputes.

Derek has been lead counsel before a variety of courts and tribunals, including the Court of Appeal for Ontario, the Ontario Securities Commission and the Competition Tribunal.

Clients frequently call on Derek to manage all aspects of their complex commercial disputes across a wide range of areas, including mining cases, securities cases, asset recovery and fraud cases, class actions, competition cases, and product liability cases. These have included numerous precedent-setting motions, trials and appeals for high-profile corporations.

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

Derek is a long-standing member of our Toronto Student Committee and a former member of our Professional Development Committee.

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.

TransAlta Corporation

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

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.

Giant Tiger Stores Limited

Acting for Giant Tiger Stores Limited in its defence of multiple class proceedings commenced across Canada (including Ontario, British Columbia, Saskatchewan, Alberta, Manitoba, Québec and the Federal Court) relating to alleged price-fixing of commercial bread products in Canada at the wholesale and retail levels.

American International Group Inc.

Acted for a subsidiary of American International Group Inc. in successfully defending a court application brought by The Walt Disney Company regarding the arbitration of a substantial insurance coverage dispute.

Vale Canada Limited

Acted for Vale Canada Limited and its affiliates in defending contractual claims before the Supreme Court of Newfoundland and Labrador in an amount of almost $500 million that were asserted by the Plaintiff under an Option Agreement pertaining to the Voisey's Bay Nickel Project. This case was settled in September, 2018, at the end of the first week of a four month trial that would have involved dozens of lay and expert witnesses. This was the first "hybrid trial" and first electronic trial ever conducted in the Province of Newfoundland and Labrador.

Zimmer Biomet Holdings, Inc.

Acting for Zimmer Biomet Holdings, Inc. in defending class action proceedings in the Superior Court of Ontario concerning alleged defects in Biomet's metal-on-metal hip replacement and resurfacing devices.

Staples, Inc.

Acted for Staples, Inc. in connection with the Competition Bureau's challenge to its proposed $6.3 billion acquisition of Office Depot, Inc.

Nevsun Resources Ltd.

Acted for Nevsun Resources Limited in defending cross-border securities class actions in Canada and the United States. This litigation was resolved successfully following mediations in New York and Los Angeles.

Sears Canada Inc.

Acted for Sears Canada Inc. in defending claims for approximately $100 million asserted against it by Canadian Premier Life Insurance Company arising from the termination of arrangements between the parties. This case was settled on the eve of trial in the Supreme Court of 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...

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

In the News

Rising Stars on Video

Dec. 21, 2016 - Davies partners Jennifer Grossklaus and Derek Ricci were recently recognized as Lexpert Rising Stars: Leading Lawyers Under 40. Both earned this award for their legal talent, business acumen, major accomplishments, community participation and interpersonal skills, and for being highly respected by...

Speaking Engagement

Speaker, Toronto Lawyers’ Association, “Corporate Transactions: Drafting to Minimize Litigation Risks”; Toronto, ON

Mar. 31, 2016

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—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