A&B Assists International Law Firm with Potential Expansion into Canada
Aird & Berlis LLP acted for an international law firm in connection with its potential expansion into Canada when it was considering the establishment of a relationship with a law firm to be newly formed with lawyers from a failing Canadian law firm. Our role included:
- researching and advising with respect to potential liability to the international firm from clients, creditors and other persons with a relationship with the failing Canadian law firm, including potential informal restructuring or liquidation proceedings;
- advice with respect to naming rights and protections;
- preparing and revising draft documentation regarding the nature and scope of the relationships, including mutual rights and obligations; and
- considering financing and tax implications of the relationship.
The strategic relationship documentation involved the global management and the North American leadership of the international law firm.
There was no formal dollar amount agreed, but the capital required was estimated to be significant. The real value to the international law firm was the strategic value of establishing a footprint in Canada, where up to this time it had not had any formal representation. The transaction did not proceed.
The Aird & Berlis LLP team was led by Martin Kovnats and included: Jeffrey Merk (Corporate Finance and M&A), Sam Billard (Banking), Don Johnston and Grant Cansfield (Intellectual Property), Paige Backman (Privacy), Angela Swan (Research and Law Society Issues), and Jack Bernstein and Barbara Worndl (Tax).