“Absolutely extraordinary… his technical expertise is superb.”
Client – Chambers Global 2015
Elie advises on all aspects of domestic and international tax planning, corporate reorganizations, mergers and acquisitions, and corporate finance. He frequently consults on cross-border transactions, structuring non-resident investment into Canada and outbound investment by Canadian multinationals. He also advises taxpayers on tax audit matters and has been highly successful in representing taxpayers in tax litigation proceedings at various court levels.
Elie has advised governments, institutional investors, commodities and securities dealers, hedge funds, private equity funds, banks, insurance companies, pension plans, real estate developers, resource companies, manufacturers, entertainers, registered charities and endowments, Crown corporations and high-net-worth individuals on a wide variety of taxation matters.
Elie is co-author of Canadian Taxation of Trusts, a textbook published by the Canadian Tax Foundation in November 2016. An adjunct professor at Osgoode Hall Law School, Elie teaches international tax law and taxation of real estate transactions. He speaks frequently at legal conferences on taxation issues in Canada, the U.S. and Europe.
The Estate Trustees of Barry Sherman and Honey Sherman
Acting as counsel to the Estate Trustees of Barry Sherman and Honey Sherman in legal proceedings against Kevin Donovan (Chief Investigative Reporter at the Toronto Star) in regards to a sealing order obtained by the Estate Trustees which restricts public access to materials filed in connection with the routine administration of the Shermans' estates. Leave to appeal to the Supreme Court of Canada has been granted for the Estate Trustees' appeal of the decision of the Ontario Court of Appeal denying the protective order.
Major unitholder of OneREIT
Acted as tax counsel to a major unitholder of OneREIT, in its $1.1-billion acquisition by SmartREIT and Strathallen Acquisitions Inc. Davies also acted for SmartREIT in this acquisition on corporate and real estate matters.
Atlas Holdings LLC
Acted for Atlas Holdings in connection with Atlas's acquisition of an 80% equity interest in Millar Western Forest Products and Atlas's exchange of high-yield notes for new secured high-yield notes as the supporting noteholder for Millar Western's US$210-million note exchange transaction. The note exchange transaction was implemented under a plan of arrangement under the Canada Business Corporations Act and, together with Atlas's subsequent equity investment by way of a debt for share exchange transaction, significantly reduced Millar Western's indebtedness and strengthened its financial position, enhancing its ability to respond to and capitalize on developments in the forest products industry.
Viking Air Limited
Acted for Viking Air Limited in connection with its acquisition of the worldwide amphibious aircraft (CL-415 waterbomber) program from Bombardier, including the Type Certificates (manufacturing rights) for all variants of the waterbomber aircraft, and the after-market product support business.
Shaw Communications Inc.
Acted for Shaw Communications Inc. in connection with its sale of Shaw Media Inc. to Corus Entertainment Inc. for $2.65 billion. Shaw Media is the owner of the Global Television Network and 19 specialty channels including HGTV Canada, Food Network Canada and Showcase. Davies acted for Shaw in 2010 on the purchase of these assets from CanWest Global Communications for $2 billion. The proceeds from this sale were used to finance Shaw's acquisition of WIND Mobile for $1.6 billion. Davies acted for WIND Mobile.
Government of Canada
Acted for the Government of Canada in connection with the restructuring of the Nuclear Laboratories division of Atomic Energy of Canada Limited (a federal Crown corporation), including (i) the structuring and development of a competitive procurement process for a private sector contractor that will be responsible for the management and operation of AECL's sites, facilities and assets and the performance of AECL's nuclear decommissioning and waste management responsibilities, operating under a government-owned, contractor-operated (GoCo) model, and (ii) the drafting of the principal procurement and transaction documents, including the Request for Proposal and the management and operating agreements.
First Quality Enterprises, Inc.
Acted as Canadian counsel to First Quality Enterprises, Inc., and its affiliates in connection with the acquisition of Fempro I Inc. and related companies.
Forest Resources LLC
Acted for Atlas Holdings LLC and Forest Resources LLC in connection with the sale of their Canadian operations, consisting of CanAmPac, Boehmer Box, and Strathcona Paper, to Rosmar Litho, a subsidiary of PaperWorks.
Waterton Global Resource Management
Acted as Canadian tax counsel to Waterton Global Resource Management in connection with the launch of its third private equity fund, Waterton Parallel Fund, with total capital commitments of US$725 million.
USKAL Corporation LLC and the Serruya Family
Acted as tax counsel to USKAL Corporation LLC and the Serruya Family in connection with the sale of Kahala Brands, Ltd., which operates 18 brands at 2,800 fast-food locations in 27 countries, to MTY Food Group Inc. for US$310 million.
Estate Planning in Turbulent Times
Apr. 29, 2020 - With more than two-thirds of all Canadians self-isolating in a collective effort to flatten the COVID-19 curve of infection, estate planning is one of a number of planning considerations that are top of mind. Regardless of whether individuals already have a plan in place or have yet to commence the...
In the News
Elie Roth and Stephen Ruby Discuss Tax Ruling with Canadian Lawyer and The Lawyer’s Daily
Apr. 01, 2020 - Following the Supreme Court of Canada‘s recent ruling in MacDonald v Canada that a taxpayer’s forward contract was a hedge for income tax purposes, Canadian Lawyer and The Lawyer’s Daily spoke to Davies partners Elie Roth and Stephen Ruby, counsel for the appellants, for...
Canadian Tax Laws: A Review of 2019 and a Look Ahead to 2020
Jan. 30, 2020 - Each year at this time we look back at some of the more significant income tax developments in Canada affecting domestic and international business over the past year and look ahead to possible Canadian tax developments in the coming year. Review of Canadian Tax Developments in 2019Tax...
2019 Federal Budget: Tax Highlights
Mar. 19, 2019 - Budget 2019 is the last federal budget of the current Liberal government before the upcoming federal election in October 2019. Tax-related measures are intended to advance the government’s stated priority of creating a fair tax system. Proposals include changes to the employee stock option rules,...
International Bar Association, The New Era of Taxation Conference, “Digital economy- legislative challenges and country-specific solutions”; Vienna, Austria; Nov. 29 & 30 2018
Nov. 29, 2018
New York State Bar Association, 14th Annual International Estate Planning Institute, “Canada-US cross-border planning in light of US tax reform”; New York, NY; Mar. 22 & 23 2018
Mar. 22, 2018
2018 Federal Budget: Tax Highlights
Feb. 27, 2018 - As anticipated, today’s federal budget (Budget 2018) focuses on a few targeted areas, including the taxation of passive investments made by private corporations, and does not contain any measures in response to the enactment of tax reform in the United States or relating to the OECD BEPS initiative....
U.S. Tax Laws: A Review of 2017 and a Look Ahead to 2018
Jan. 11, 2018 - Each year at this time, we offer a look back at some of the more significant income tax developments in the United States affecting domestic and international business over the past year and a look ahead to possible U.S. tax developments in the coming year. Tax Developments in 2017As we predicted...
Canadian Tax Laws: A Review of 2017 and a Look Ahead to 2018
Jan. 11, 2018 - Each year at this time we offer a look back at some of the more significant income tax developments in Canada affecting domestic and international business over the past year and a look ahead to possible Canadian tax developments in the coming year. Developments in 2017 1. Legislative...
Department of Finance Releases Revised Income Splitting Rules
Dec. 13, 2017 - Earlier this year, the Department of Finance released a set of far-reaching proposals affecting the taxation of private businesses and their shareholders. Only Rip Van Winkle missed the firestorm reaction to these proposals from a broad range of affected parties. Ultimately, the Government...
Chambers Global: The World’s Leading Lawyers for Business—Tax
Chambers Canada: Canada’s Leading Lawyers for Business—Tax
Chambers High Net Worth Guide—Private Wealth Law: Canada (Band 1)
Tax Directors Handbook—Tax
Lexpert Special Edition: Finance and M&A
Lexpert Guide to US/Canada Cross-Border Lawyers in Canada—Tax
The Canadian Legal Lexpert Directory—Estate and Personal Tax Planning: Estate and Tax Planning (Most Frequently Recommended); Charities/Not-For-Profit Law; Corporate Tax
Lexpert Rising Stars: Leading Lawyers Under 40
ALM/Legal Week—Global Private Client Elite
The Best Lawyers in Canada—Tax Law; Trusts and Estates (Lawyer of the Year 2018, Toronto)
Who’s Who Legal: Canada—Private Client; Corporate Tax; Who’s Who Legal: Private Client