The Carlyle Group
Acted as Canadian counsel to The Carlyle Group for the term loan and senior note offering financing for its joint acquisition with GIC of the global specialty chemicals business of Akzo Nobel N.V.
Partner
Partner
For 35 years, clients have trusted Michael’s unparalleled legal knowledge and expert legal opinions.
Michael advises on corporate law, capital markets, restructuring, mergers and acquisitions, private equity and investment funds, banking and gaming. A substantial part of his practice focuses on third-party legal opinions for commercial transactions – particularly secured financing deals. Michael regularly prepares, negotiates and reviews our firm’s opinions, as well as those of firms on the other side of our clients’ transactions.
A frequent teacher, lecturer and writer on legal opinions, Michael oversees our firm’s resources, quality control and risk management for giving legal opinions. He regularly participates in initiatives to improve opinions practice and to educate the profession on third-party legal opinions. In addition, Michael has written extensively on corporate law issues and is frequently involved in research into corporate and commercial legal issues that arise in the firm’s practice.
Partner
For 35 years, clients have trusted Michael’s unparalleled legal knowledge and expert legal opinions.
Michael advises on corporate law, capital markets, restructuring, mergers and acquisitions, private equity and investment funds, banking and gaming. A substantial part of his practice focuses on third-party legal opinions for commercial transactions – particularly secured financing deals. Michael regularly prepares, negotiates and reviews our firm’s opinions, as well as those of firms on the other side of our clients’ transactions.
A frequent teacher, lecturer and writer on legal opinions, Michael oversees our firm’s resources, quality control and risk management for giving legal opinions. He regularly participates in initiatives to improve opinions practice and to educate the profession on third-party legal opinions. In addition, Michael has written extensively on corporate law issues and is frequently involved in research into corporate and commercial legal issues that arise in the firm’s practice.
The Carlyle Group
Acted as Canadian counsel to The Carlyle Group for the term loan and senior note offering financing for its joint acquisition with GIC of the global specialty chemicals business of Akzo Nobel N.V.
Independent Electricity System Operator
Acted for the Independent Electricity System Operator in connection with its amended agreement with Bruce Power for the refurbishment of six nuclear units at the Tiverton-based nuclear generation station, the world's largest operating nuclear facility. The amended agreement secures 6,300 megawatts of baseload generating capacity for the province of Ontario and will result in an investment by Bruce Power of approximately $13 billion.
The Blackstone Group
Acted as Canadian counsel to The Blackstone Group in connection with the acquisition of GE Capital Real Estate's assets in a transaction valued at approximately US$23 billion.
Central National-Gottesman Inc.
Acted for Central National-Gottesman Inc., a global distributor of pulp, paper and forestry products, and its subsidiary Spicers Canada ULC in connection with the acquisition of the assets and business of Spicers Canada Limited, a distributor of fine paper, sign and display media, industrial packaging and graphic arts supplies, headquartered in Vaughan, Ontario and with locations across Canada, and the related financing with Bank of America, N.A. (Canada branch), as agent.
Class Actions: Gambling on a Novel Cause of Action May Not Be a Winner
July 29, 2020 - In Atlantic Lottery Corp. Inc. v Babstock, 2020 SCC 19 (Babstock), the Supreme Court of Canada (SCC) clarifies the contentious doctrine of “waiver of tort” and provides helpful guidance on the way courts should assess novel claims at the stage of certification of a proposed...
Private Federal Corporations Must Track Controlling Shareholders Beginning in June 2019
Feb. 22, 2019 - Bill C-86 introduces significant changes to the Canada Business Corporations Act (CBCA) that will come into effect on June 13, 2019. Corporations governed by the CBCA (excluding corporations that are reporting issuers or are listed on a “designated stock exchange” as defined in the...
Sept. 06, 2018 - Early in 2018, lenders and their counsel were surprised and alarmed by the Ontario Superior Court of Justice decision in Solar Power Network Inc. v ClearFlow Energy Finance Corp., which threatened to disrupt a long-established consensus that section 4 of the Canadian federal Interest...
Interest Disclosure under Section 4 of the Interest Act: The Ghost Is Clanking Its Chains Again
Feb. 09, 2018 - Section 4 of the Canadian federal Interest Act, an interest disclosure provision first enacted in 1897 and surviving almost unchanged today, has been of little concern to lenders for the past quarter-century. A series of judicial decisions in the early 1990s seemed to have limited its...
Perfection by Control of Security Interests in Cash Collateral Accounts: Recent Ontario Developments
Dec. 07, 2016 - From a lender’s perspective, perfection of its security interest in collateral by control provides stronger protection than perfection by registration. A security interest perfected by control will generally prevail over other interests in the same collateral, including even a prior security...
Osgoode Hall Law School, Osgoode Professional Development Secured Lending and Debt Finance Course, “Ethical and Professional Issues in Secured Lending and Debt Finance”; Toronto, ON
Oct. 06, 2016
Osgoode Hall Law School, Osgoode Professional Development Secured Lending and Debt Finance Course, “Drafting and Negotiating Legal Opinions in Secured Lending Transactions” (with Rob Scavone); Toronto, ON
Oct. 08, 2015
The Law Society of Upper Canada, Continuing Professional Development, 5th Annual Business Law Summit, “Third Party Reliance on Your Opinion Letter”; Toronto, ON
June 30, 2015 - Download the presentation.
Canadian Gaming Summit, “Social Gaming and Social Gambling in Canada” (with Gerold Goldlist); Vancouver, BC; June 23 to 25, 2014
June 23, 2014
Discussion Paper: The Quality of the Shareholder Vote in Canada
Oct. 22, 2010 - Reason for the Paper As a firm, we have extensive experience with shareholder meetings. Some of these meetings are routine, others involve proxy battles, the approval of important transactions or votes on governance matters such as shareholder rights plans or stock option plans. Together with our...
IFLR1000: Guide to the World’s Leading Financial Law Firms—Capital Markets; Mergers and Acquisitions
The Canadian Legal Lexpert Directory—Banking and Financial Institutions; Corporate Commercial Law
The Best Lawyers in Canada—Banking and Finance Law; Corporate Law; Mergers and Acquisitions; Securities Law
Ontario, 1980
Osgoode Hall Law School, LLB, 1978
University of Toronto, BA, 1975
Canadian Bar Association
For 35 years, clients have trusted Michael’s unparalleled legal knowledge and expert legal opinions.
Michael advises on corporate law, capital markets, restructuring, mergers and acquisitions, private equity and investment funds, banking and gaming. A substantial part of his practice focuses on third-party legal opinions for commercial transactions – particularly secured financing deals. Michael regularly prepares, negotiates and reviews our firm’s opinions, as well as those of firms on the other side of our clients’ transactions.
A frequent teacher, lecturer and writer on legal opinions, Michael oversees our firm’s resources, quality control and risk management for giving legal opinions. He regularly participates in initiatives to improve opinions practice and to educate the profession on third-party legal opinions. In addition, Michael has written extensively on corporate law issues and is frequently involved in research into corporate and commercial legal issues that arise in the firm’s practice.
The Carlyle Group
Acted as Canadian counsel to The Carlyle Group for the term loan and senior note offering financing for its joint acquisition with GIC of the global specialty chemicals business of Akzo Nobel N.V.
Independent Electricity System Operator
Acted for the Independent Electricity System Operator in connection with its amended agreement with Bruce Power for the refurbishment of six nuclear units at the Tiverton-based nuclear generation station, the world's largest operating nuclear facility. The amended agreement secures 6,300 megawatts of baseload generating capacity for the province of Ontario and will result in an investment by Bruce Power of approximately $13 billion.
The Blackstone Group
Acted as Canadian counsel to The Blackstone Group in connection with the acquisition of GE Capital Real Estate's assets in a transaction valued at approximately US$23 billion.
Central National-Gottesman Inc.
Acted for Central National-Gottesman Inc., a global distributor of pulp, paper and forestry products, and its subsidiary Spicers Canada ULC in connection with the acquisition of the assets and business of Spicers Canada Limited, a distributor of fine paper, sign and display media, industrial packaging and graphic arts supplies, headquartered in Vaughan, Ontario and with locations across Canada, and the related financing with Bank of America, N.A. (Canada branch), as agent.
Class Actions: Gambling on a Novel Cause of Action May Not Be a Winner
July 29, 2020 - In Atlantic Lottery Corp. Inc. v Babstock, 2020 SCC 19 (Babstock), the Supreme Court of Canada (SCC) clarifies the contentious doctrine of “waiver of tort” and provides helpful guidance on the way courts should assess novel claims at the stage of certification of a proposed...
Private Federal Corporations Must Track Controlling Shareholders Beginning in June 2019
Feb. 22, 2019 - Bill C-86 introduces significant changes to the Canada Business Corporations Act (CBCA) that will come into effect on June 13, 2019. Corporations governed by the CBCA (excluding corporations that are reporting issuers or are listed on a “designated stock exchange” as defined in the...
Sept. 06, 2018 - Early in 2018, lenders and their counsel were surprised and alarmed by the Ontario Superior Court of Justice decision in Solar Power Network Inc. v ClearFlow Energy Finance Corp., which threatened to disrupt a long-established consensus that section 4 of the Canadian federal Interest...
Interest Disclosure under Section 4 of the Interest Act: The Ghost Is Clanking Its Chains Again
Feb. 09, 2018 - Section 4 of the Canadian federal Interest Act, an interest disclosure provision first enacted in 1897 and surviving almost unchanged today, has been of little concern to lenders for the past quarter-century. A series of judicial decisions in the early 1990s seemed to have limited its...
Perfection by Control of Security Interests in Cash Collateral Accounts: Recent Ontario Developments
Dec. 07, 2016 - From a lender’s perspective, perfection of its security interest in collateral by control provides stronger protection than perfection by registration. A security interest perfected by control will generally prevail over other interests in the same collateral, including even a prior security...
Osgoode Hall Law School, Osgoode Professional Development Secured Lending and Debt Finance Course, “Ethical and Professional Issues in Secured Lending and Debt Finance”; Toronto, ON
Oct. 06, 2016
Osgoode Hall Law School, Osgoode Professional Development Secured Lending and Debt Finance Course, “Drafting and Negotiating Legal Opinions in Secured Lending Transactions” (with Rob Scavone); Toronto, ON
Oct. 08, 2015
The Law Society of Upper Canada, Continuing Professional Development, 5th Annual Business Law Summit, “Third Party Reliance on Your Opinion Letter”; Toronto, ON
June 30, 2015 - Download the presentation.
Canadian Gaming Summit, “Social Gaming and Social Gambling in Canada” (with Gerold Goldlist); Vancouver, BC; June 23 to 25, 2014
June 23, 2014
Discussion Paper: The Quality of the Shareholder Vote in Canada
Oct. 22, 2010 - Reason for the Paper As a firm, we have extensive experience with shareholder meetings. Some of these meetings are routine, others involve proxy battles, the approval of important transactions or votes on governance matters such as shareholder rights plans or stock option plans. Together with our...
IFLR1000: Guide to the World’s Leading Financial Law Firms—Capital Markets; Mergers and Acquisitions
The Canadian Legal Lexpert Directory—Banking and Financial Institutions; Corporate Commercial Law
The Best Lawyers in Canada—Banking and Finance Law; Corporate Law; Mergers and Acquisitions; Securities Law
Ontario, 1980
Osgoode Hall Law School, LLB, 1978
University of Toronto, BA, 1975
Canadian Bar Association
155 Wellington Street West
Toronto, ON, M5V 3J7
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416.863.0900
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514.841.6400
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New York, NY 10022
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212.588.5500
For media-related inquiries, contact Tiffany Schier at 416.367.6973 or Yohan Sauves at 514.841.6552.
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