Richard Cherney

Partner

Richard Cherney

Richard Cherney

Partner

Richard sees the big picture while remaining focused on the details. That’s why clients such as Alimentation Couche-Tard and Cominar Real Estate Investment Trust regularly entrust him with their most important transactions.

For more than three decades, Richard has been an indispensable legal partner to some of Canada’s most important public and private companies and financial institutions, advising on acquisitions, divestitures, investments, public offerings and private placements. Richard has served as a director of several public companies and is often called upon to advise boards of directors regarding their strategic choices.

His creativity in the life sciences sector resulted in his recent award as Biotechnology Law Lawyer of the Year by Best Lawyers.

Richard served as Managing Partner from 2000 to 2015 and was a member of our Management Committee until 2019. He is chairman of the Montréal General Hospital Foundation and a director of and counsel to New Look Vision Group Inc.

Richard Cherney

Partner

Richard sees the big picture while remaining focused on the details. That’s why clients such as Alimentation Couche-Tard and Cominar Real Estate Investment Trust regularly entrust him with their most important transactions.

For more than three decades, Richard has been an indispensable legal partner to some of Canada’s most important public and private companies and financial institutions, advising on acquisitions, divestitures, investments, public offerings and private placements. Richard has served as a director of several public companies and is often called upon to advise boards of directors regarding their strategic choices.

His creativity in the life sciences sector resulted in his recent award as Biotechnology Law Lawyer of the Year by Best Lawyers.

Richard served as Managing Partner from 2000 to 2015 and was a member of our Management Committee until 2019. He is chairman of the Montréal General Hospital Foundation and a director of and counsel to New Look Vision Group Inc.

Alimentation Couche-Tard Inc.

Acting as Canadian counsel to Alimentation Couche-Tard Inc. ("Couche-Tard") in connection with its further revised non-binding, indicative offer made on February 12, 2020 to the Board of Caltex to acquire 100% of Caltex by way of scheme of arrangement .

GMP Securities L.P.

Acted for a syndicate of underwriters led by GMP Securities L.P. and comprising Desjardins Securities Inc., National Bank Financial Inc., Acumen Capital Finance Partners Limited, Scotia Capital Inc., RBC Dominion Securities Inc., Raymond James Ltd., Canaccord Genuity Corporation and PI Financial Corp. in a bought deal offering of 7,142,857 common shares of Goodfood Market Corp. for gross proceeds to the corporation of approximately $25 million.

Airbus SE

Acted as co-counsel to Airbus SE, a European leader providing tanker, combat and transport aircraft, as well as a global leader in aeronautic, space and related services, in its divestiture of Vector Aerospace Holding SAS to StandardAero Aviation Holdings, Inc.

New Look Vision Group Inc.

Acted for New Look Vision Group Inc. in its $120-million acquisition, by way of plan of arrangement, of Iris, le groupe visuel (1990) Inc., which has a network of 147 retail locations across Québec, British Columbia, Alberta, Ontario and New Brunswick. The purchase was financed through various arrangements, including an increase of New Look's senior secured term facility with its bank syndicate, a new junior unsecured debt facility and an equity private placement.

eStruxture Holdings Inc.

Acted for eStruxture Holdings Inc., a new network and cloud-neutral data centre operator based in Montréal, in connection with the creation of its new platform and its initial $80-million capital raising led by Canderel and Caisse de dépôt et placement du Québec.

Group of Leading Financial Institutions

Acted for a group of leading financial institutions in connection with the $1.25-billion refinancing for Air Canada. The group included TD Securities Inc., as representative of the initial purchasers of $200-million of Air Canada's 4.75% senior secured notes due 2023, and JPMorgan Chase Bank, N.A., as administrative agent and lender under a new US$1.1-billion senior secured credit facility.

Alimentation Couche-Tard Inc.

Acted for Alimentation Couche-Tard Inc. in connection with (1) its acquisition of, by way of merger, the Texas-based gas-and-convenience-store chain CST Brands, Inc., valued at approximately US$4.4 billion; and (2) Alimentation Couche-Tard Inc.'s subsequent sale of a portion of CST Brands, Inc.'s Canadian assets to Parkland Fuel Corporation for approximately US$750 million, subject to adjustments.

Alimentation Couche-Tard Inc.

Acted for Alimentation Couche-Tard Inc., the leader in the Canadian convenience store industry, in connection with its $1.68-billion acquisition of 279 Esso-branded fuel and convenience sites; 229 of these sites are located in Ontario and 50 are located in Québec. The acquisition also includes land banks and dealer-operated sites, as well as a long-term supply agreement with Imperial Oil.

Thrasos Innovation Inc.

Acted for Thrasos Innovation Inc. in connection with the first tranche closing of a US$21-million financing completed via the issuance of convertible shares to Canadian and American investors.

Alimentation Couche-Tard inc.

Acted for Alimentation Couche-Tard Inc. in connection with its acquisition of U.S.-based The Pantry, Inc. for approximately US$1.7 billion including assumed debt and the financing of such acquisition.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the $1.527-billion acquisition of a portfolio of 11 shopping centres, three office properties and one industrial property from Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec. The firm also represented Cominar in financing the acquisition, through the issuance of $250 million of trust units to Ivanhoé Cambridge by way of private placement, the issuance of $250 million of trust units to the public by way of a bought deal, the establishment of new unsecured bridge facilities of up to $850 million, a $100-million unsecured credit facility, and mortgage financings of $250 million.

New Look Eyewear Inc.

Acted for New Look Vision Group Inc. in connection with its acquisition of substantially all the assets of Optic Direct Inc., doing business in Québec as Greiche & Scaff, for a purchase price of $17.75 million, and its financing arrangements to finance such acquisition, including a $10 million increase of its senior secured debt facility with its bank syndicate to $53 million, and a bought deal private placement of 500,000 subscription receipts at a price of $20.00 per receipt with a syndicate of Canadian investment firms led by GMP Securities L.P.

J.P. Morgan Securities Inc.

Acted for J.P. Morgan Securities Inc. as joint book runner and representative of the initial purchasers in connection with US$400-million unsecured notes of Air Canada.

Thrasos Innovation Inc.

Acted for Thrasos Innovation Inc. in connection with a multi-million bridge-loan financing done via the issuance of secured convertible promissory notes.

Joddes Limited and members of the Goodman family

Acted for Joddes Limited and members of the Goodman family, the largest shareholders of Paladin Labs Inc., in connection with the acquisition of Paladin Labs Inc. by Endo Health Solutions Inc. in a stock and cash transaction valued at approximately $3 billion.

J.P. Morgan and TD Securities Inc.

Acted for the initial purchasers led by J.P. Morgan and TD Securities Inc. in connection with Air Canada's US$1.1 billion private placement offering of secured notes. The offering consisted of US$600 million of first-lien secured notes, $300 million of Canadian dollar-denominated first-lien secured notes and US$200 million of second-lien secured notes.

Chambers Canada: Canada’s Leading Lawyers for Business—Corporate/Commercial: Québec

Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada—Corporate Finance and Securities

Lexpert Special Edition on Finance and M&A

The Canadian Legal Lexpert Directory—Biotechnology; Corporate Commercial Law; Corporate Finance and Securities; Corporate Mid-Market; Mergers and Acquisitions

The Best Lawyers in Canada—Biotechnology Law (Lawyer of the Year 2018, Montréal); Corporate Law; Mergers and Acquisitions Law; Securities Law; Technology Law

Who’s Who Legal: Canada—Capital Markets

Bar Admissions

Québec, 1985

Education

McGill University, LLB, 1984
Concordia University, BA, 1979

Professional Affiliations

International Bar Association

Board Memberships

MacKinnon, Bennett & Company Inc., chairman
Montréal General Hospital Foundation, chairman
New Look Vision Group Inc., director, secretary and counsel
Uniboard Canada Inc.

Richard sees the big picture while remaining focused on the details. That’s why clients such as Alimentation Couche-Tard and Cominar Real Estate Investment Trust regularly entrust him with their most important transactions.

For more than three decades, Richard has been an indispensable legal partner to some of Canada’s most important public and private companies and financial institutions, advising on acquisitions, divestitures, investments, public offerings and private placements. Richard has served as a director of several public companies and is often called upon to advise boards of directors regarding their strategic choices.

His creativity in the life sciences sector resulted in his recent award as Biotechnology Law Lawyer of the Year by Best Lawyers.

Richard served as Managing Partner from 2000 to 2015 and was a member of our Management Committee until 2019. He is chairman of the Montréal General Hospital Foundation and a director of and counsel to New Look Vision Group Inc.

Alimentation Couche-Tard Inc.

Acting as Canadian counsel to Alimentation Couche-Tard Inc. ("Couche-Tard") in connection with its further revised non-binding, indicative offer made on February 12, 2020 to the Board of Caltex to acquire 100% of Caltex by way of scheme of arrangement .

GMP Securities L.P.

Acted for a syndicate of underwriters led by GMP Securities L.P. and comprising Desjardins Securities Inc., National Bank Financial Inc., Acumen Capital Finance Partners Limited, Scotia Capital Inc., RBC Dominion Securities Inc., Raymond James Ltd., Canaccord Genuity Corporation and PI Financial Corp. in a bought deal offering of 7,142,857 common shares of Goodfood Market Corp. for gross proceeds to the corporation of approximately $25 million.

Airbus SE

Acted as co-counsel to Airbus SE, a European leader providing tanker, combat and transport aircraft, as well as a global leader in aeronautic, space and related services, in its divestiture of Vector Aerospace Holding SAS to StandardAero Aviation Holdings, Inc.

New Look Vision Group Inc.

Acted for New Look Vision Group Inc. in its $120-million acquisition, by way of plan of arrangement, of Iris, le groupe visuel (1990) Inc., which has a network of 147 retail locations across Québec, British Columbia, Alberta, Ontario and New Brunswick. The purchase was financed through various arrangements, including an increase of New Look's senior secured term facility with its bank syndicate, a new junior unsecured debt facility and an equity private placement.

eStruxture Holdings Inc.

Acted for eStruxture Holdings Inc., a new network and cloud-neutral data centre operator based in Montréal, in connection with the creation of its new platform and its initial $80-million capital raising led by Canderel and Caisse de dépôt et placement du Québec.

Group of Leading Financial Institutions

Acted for a group of leading financial institutions in connection with the $1.25-billion refinancing for Air Canada. The group included TD Securities Inc., as representative of the initial purchasers of $200-million of Air Canada's 4.75% senior secured notes due 2023, and JPMorgan Chase Bank, N.A., as administrative agent and lender under a new US$1.1-billion senior secured credit facility.

Alimentation Couche-Tard Inc.

Acted for Alimentation Couche-Tard Inc. in connection with (1) its acquisition of, by way of merger, the Texas-based gas-and-convenience-store chain CST Brands, Inc., valued at approximately US$4.4 billion; and (2) Alimentation Couche-Tard Inc.'s subsequent sale of a portion of CST Brands, Inc.'s Canadian assets to Parkland Fuel Corporation for approximately US$750 million, subject to adjustments.

Alimentation Couche-Tard Inc.

Acted for Alimentation Couche-Tard Inc., the leader in the Canadian convenience store industry, in connection with its $1.68-billion acquisition of 279 Esso-branded fuel and convenience sites; 229 of these sites are located in Ontario and 50 are located in Québec. The acquisition also includes land banks and dealer-operated sites, as well as a long-term supply agreement with Imperial Oil.

Thrasos Innovation Inc.

Acted for Thrasos Innovation Inc. in connection with the first tranche closing of a US$21-million financing completed via the issuance of convertible shares to Canadian and American investors.

Alimentation Couche-Tard inc.

Acted for Alimentation Couche-Tard Inc. in connection with its acquisition of U.S.-based The Pantry, Inc. for approximately US$1.7 billion including assumed debt and the financing of such acquisition.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the $1.527-billion acquisition of a portfolio of 11 shopping centres, three office properties and one industrial property from Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec. The firm also represented Cominar in financing the acquisition, through the issuance of $250 million of trust units to Ivanhoé Cambridge by way of private placement, the issuance of $250 million of trust units to the public by way of a bought deal, the establishment of new unsecured bridge facilities of up to $850 million, a $100-million unsecured credit facility, and mortgage financings of $250 million.

New Look Eyewear Inc.

Acted for New Look Vision Group Inc. in connection with its acquisition of substantially all the assets of Optic Direct Inc., doing business in Québec as Greiche & Scaff, for a purchase price of $17.75 million, and its financing arrangements to finance such acquisition, including a $10 million increase of its senior secured debt facility with its bank syndicate to $53 million, and a bought deal private placement of 500,000 subscription receipts at a price of $20.00 per receipt with a syndicate of Canadian investment firms led by GMP Securities L.P.

J.P. Morgan Securities Inc.

Acted for J.P. Morgan Securities Inc. as joint book runner and representative of the initial purchasers in connection with US$400-million unsecured notes of Air Canada.

Thrasos Innovation Inc.

Acted for Thrasos Innovation Inc. in connection with a multi-million bridge-loan financing done via the issuance of secured convertible promissory notes.

Joddes Limited and members of the Goodman family

Acted for Joddes Limited and members of the Goodman family, the largest shareholders of Paladin Labs Inc., in connection with the acquisition of Paladin Labs Inc. by Endo Health Solutions Inc. in a stock and cash transaction valued at approximately $3 billion.

J.P. Morgan and TD Securities Inc.

Acted for the initial purchasers led by J.P. Morgan and TD Securities Inc. in connection with Air Canada's US$1.1 billion private placement offering of secured notes. The offering consisted of US$600 million of first-lien secured notes, $300 million of Canadian dollar-denominated first-lien secured notes and US$200 million of second-lien secured notes.

Chambers Canada: Canada’s Leading Lawyers for Business—Corporate/Commercial: Québec

Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada—Corporate Finance and Securities

Lexpert Special Edition on Finance and M&A

The Canadian Legal Lexpert Directory—Biotechnology; Corporate Commercial Law; Corporate Finance and Securities; Corporate Mid-Market; Mergers and Acquisitions

The Best Lawyers in Canada—Biotechnology Law (Lawyer of the Year 2018, Montréal); Corporate Law; Mergers and Acquisitions Law; Securities Law; Technology Law

Who’s Who Legal: Canada—Capital Markets

Bar Admissions

Québec, 1985

Education

McGill University, LLB, 1984
Concordia University, BA, 1979

Professional Affiliations

International Bar Association

Board Memberships

MacKinnon, Bennett & Company Inc., chairman
Montréal General Hospital Foundation, chairman
New Look Vision Group Inc., director, secretary and counsel
Uniboard Canada Inc.