Jill P. Fraser

Managing Partner Admitted to the Ontario Bar: 1996

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  • Bio
  • Awards & Recognition
  • Professional Involvement
  • Representative Matters
  • Selected Speaking Engagements
  • Selected Publications
  • Insights
  • Education

With a calm demeanour and extensive experience in banking law, Jill remains poised in even the most testing circumstances. A creative problem solver, she considers her clients’ needs and constructs innovative solutions to match. Jill is dedicated to providing exceptional client service and is well-known for her hands-on leadership and for being directly accessible.

Jill is the firm’s Managing Partner and a member of the Financial Services and Energy Groups. She is also a long-standing member of the firm's Executive Committee. Jill's practice focuses on corporate and commercial lending transactions, including syndicated credit facilities, secured loans, project financings, acquisition financings, venture capital investments and asset-based lending.

She is also experienced in the area of asset/equipment finance and leasing, including the structuring and documenting of bulk lease financing facilities and private securitizations. Jill has an active practice representing borrowers from many different industries, as well as acting for a broad range of lenders, including domestic and international banks, life insurance companies, asset-based lenders and investment funds.

Awards & Recognition

  • Recognized in The Best Lawyers in Canada in Asset-Based Lending, Banking and Finance Law, Equipment Finance Law and Structured Finance Law
  • Named Best Lawyers' Lawyer of the Year in Equipment Finance Law (Toronto) in 2019, 2021 and 2024
  • Recognized in The Canadian Legal Lexpert Directory as a leading lawyer in Asset-Based Lending, Asset Equipment Finance/Leasing and Banking & Financial Institutions
  • Recognized by The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada in the area of Banking & Finance
  • Listed in the Lexpert Leading Canadian Lawyers in Finance and M&A Special Edition
  • Featured in The Secured Lender’s 6th annual Women in Secured Finance issue
  • Included in ReferToHer's Financial Institution Transactions & Regulatory list

Professional Involvement


  • Canadian Finance & Leasing Association

Community Involvement

  • Chair, Board of Governors, Havergal College

Representative Matters

Represented Linamar Corporation in its acquisition of Bourgault Industries Ltd., a leading agricultural equipment manufacturer, for $640 million. In conjunction with the Bourgault transaction closing, Linamar also finalized a new $700-million term loan agreement.

Represented Linamar Corporation (TSX:LNR) in connection with its acquisition of a substantial portion of Mobex Fourth and 1, LLC’s U.S.-based assets.

Acted for Stonebridge Financial Corporation in the closing of a long-term, fixed-rate debt financing for Crown Ridge Health Care Services Inc.

Acted for Lorne Park Capital Partners Inc. (TSXV:LPC) in the completion of a secured loan facility for up to $15 million with CWB Maxium Financial Inc.

Acted for Stonebridge Financial Corporation, a Toronto-based financial services firm with a focus on financial advisory and arranging of project financings in the infrastructure and energy sectors, with the onboarding of new officers to its executive leadership team.

Acted for Linamar Corporation in the completion of a $550 million private placement of senior unsecured notes.

Advised the Ontario Ministry of Economic Development, Job Creation and Trade on all aspects of its winning bid for Volkswagen’s first overseas gigafactory, a several-billion-dollar investment that is one of the largest in Canadian history. 

Represented Ameresco BRI Carbon Reduction LP, a supplier of energy efficiency, renewable energy and decarbonization retrofit solutions for commercial clients, with its $100 million credit facility financing from Canada Infrastructure Bank.

Acted for Linamar Corporation in its renewal and extension of its principal revolving credit facility.

Acted for Aleafia Health Inc., a vertically integrated and federally licensed Canadian cannabis company, in connection with the closing of its amendment of its $37 million convertible debentures and a private placement of units. 

Acted for Pivotal Capital Corp., an independent Canadian commercial equipment finance company and wholly owned subsidiary of Axis Auto Finance Inc., in the securing of $55 million in funding facilities with Mitsubishi HC Capital Canada, Inc.

Acted for management of LendCare Holdings Inc., a Canadian point-of-sale consumer finance and technology company, in connection with goeasy Ltd.’s acquisition of LendCare for $320 million.

Acted for Energy+ Inc. in the closing of a $55 million offering of 2.968% senior unsecured debentures due August 10, 2060. The debentures were sold on an agency basis to accredited investors on a private placement basis by means of a confidential offering memorandum.

Acted for The Toronto-Dominion Bank in its capacity as Administrative Agent, Joint-Arrangers, Joint-Bookrunner and a lender in connection with syndicated credit facilities established in favour of Sangoma Technologies Inc. and Sangoma U.S. Inc. (the “borrowers”) in the total amount of $64 million to support the borrowers’ working capital requirements and acquisition of a U.S. target.

Acted for the agent and the lenders on a syndicated credit facility in the aggregate amount of $155 million to a corporation in the business of specialty grocery retailer and food distribution.

Acted for a corporation in the business of making loans to finance the payment of insurance premiums, which entered into a purchase and servicing agreement with a chartered bank, with a purchase limit of $100 million. Various intercreditor and other priority agreements were negotiated.  

Acted for the financial advisor and lead arranger, as well as the syndicate of lenders, in a $120 million construction and term financing to a group of companies with a portfolio of retirement and long-term care facilities. Security was taken over both real property and personal property, all located in Ontario. Priority agreements were negotiated with the operating lender, and payout letters negotiated with the former term funders. 

Acted for an entity that purchased a portfolio of receivables and related assets under a private-label credit card program established with a Canadian chartered bank. Prepared receivable purchase agreements and assignments to deal with the transfer of the assets, and negotiated a secured loan agreement to finance the purchase. 

Acts on a regular basis for Schedule I banks and asset-based lenders with respect to their secured lending facilities.

Regularly acts for various banks and life insurance companies in connection with the financing and structuring of private securitizations of equipment leases, ranging in size from $10 million to $100 million.

Frequently retained by international law firms on cross-border financing deals to give advice and provide opinions with respect to security and other matters of Canadian law.
Represents various lenders in connection with the construction financing and term loans provided to long-term care facilities and retirement homes located in Ontario. 

Selected Speaking Engagements

Regular presenter at the session titled, "Equipment Lease Financing in Today's Loan Transactions," as part of the Osgoode Professional Development Intensive Short Course in Secured Lending and Debt Finance (previously Commercial Loan Finance and Security), covering topics such as the preparation of the lease, current PPSA requirements, problems posed by specialized collateral and the implications of amendments to bankruptcy and insolvency law.

Presented a session titled “Review of Available Credit Facilities,” during the Law Society of Ontario's Understanding Commercial Debt Financing Transactions Webinar, November 23, 2020.

Presented a session titled "Drafting Opinions for Commercial Transactions" at the Federated Press' inaugural Loan Documentation: Mastering Critical Issues in Loan Negotiations and Documentation course – January 2015.

Course leader of a seminar as part of the Federated Press Essentials of Commercial Contracts Course – May 2014 and 2015.

Co-chair of a workshop entitled "Managing the Legal Aspects of Construction Financing" as part of the Federated Press 8th Construction Financing Course – January 2012.

Presented a session titled "Drafting Opinions for Commercial Transactions" at the inaugural Essentials of Commercial Contracts Course, which examined the opinion drafting process, including best practices, key considerations and challenges – May 2010.

Co-presented a workshop with Andrew Biderman on "Intercreditor Agreements: Structuring, Negotiating and Enforcing," which addressed the purpose of these agreements, the rights of creditors and key issues relating to their structure and negotiation, at the Advanced Asset Based Lending and Other Alternative Debt Financing Conference – May 2010.

Selected Publications

"Ontario Government Introduces New Consumer Protection Act," Aird & Berlis LLP, Financial Services Flash, October 24, 2023.

"Leading the Way Forward," The Secured Lender's Women in Secured Finance Issue, April 2022.

“Teva Canada, Cheque Fraud and Risk Allocation for Collecting Banks,” Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, November 2017.

"Securitizations: Not Subject to Bulk Sales Act," Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, October 2012.

"How to Limit Rights of Set-Off," Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, December 2010.

"Whose Proceeds are They?" Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, December 2010.

"Various Issues Relating to Purchase Money Security Interests," National Creditor Debtor Review, Volume 24, Number 3, September 2009.

"Cross Border Registrations – An Ongoing Dilemma," Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, October 2008; National Creditor Debtor Review, Volume 23, Number 4, December 2008.

"True Lease v. Security Lease – Is the Distinction Still Relevant?" Aird & Berlis LLP Banking Law Newsletter, Collateral Matters, June 2008; National Banking Law Review, Volume 27, Number 5, October 2008.

"Easing the Way for Receivables Financing," Aird & Berlis LLP Banking Law Newsletter, December 2007.

"Lending to Farmers: A Summary of the Farm Debt Mediation Act," Aird & Berlis LLP Banking Law Newsletter, May 2007 (with John Walker).

"The New Securities Transfer Act, 2006," Aird & Berlis LLP Banking Law Newsletter, March 2007.

"Bill 152 Ministry of Government Services Consumer Protection and Service Modernization Act, 2006: Amendments to the PPSA (Ontario)," Aird & Berlis LLP Banking Law Newsletter, March 2007.

"Securitizations," Aird & Berlis LLP Banking Law Alert, Fall 2005.

"Regulation of Foreign Banks Without a Physical Presence: A Comparison of the Law in Canada, the United Kingdom and the European Union," Banking & Finance Law Review, October 2004.

Contributing editor for O'Brien's Encyclopaedia of Forms (Banking and Borrowing) - the only comprehensive Canadian collection of forms and precedents covering a broad range of legal subjects - published by Canada Law Book.


  • LLM, Banking and Financial Services, Osgoode Hall Law School, 2003
  • LLB, University of Toronto, 1994
  • B.Comm., Queen's University, 1991