Q2 | Torys Quarterly
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Spring 2025
Canada’s defining moment for energy
Torys looks at the imperative to invest in Canadian energy, resources and infrastructure in service of broad economic growth, spurring opportunity amid a turbulent business environment.
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Venture financing report 2025
What was the state of play in Canadian venture capital in 2024? We break down the deal terms that shaped the ecosystem.
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Tariffs and trade: Canada-U.S. brief
What foreign trade developments are on the horizon? Torys’ cross-border team provides coverage as new policies emerge.
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Latest News & Insights

News
Canada’s mining sector faces challenges amid government restrictions
Partner Braden Jebson speaks with BNN Bloomberg about the impact of federal policies on the mining and metals industry.
Mar 5, 2025
Video
Special considerations for disputes with host governments
Resolving disputes on international projects requires a proactive approach that includes a view to international investment treaty planning.
Feb 13, 2025
News
Canada tightens guidelines around foreign investment amidst evolving trade environment
Mar 7, 2025
Brief
Use the force (majeure)? Considering the application of force majeure clauses to tariffs
Will force majeure provisions in contracts be sufficient for businesses to not perform contract obligations that are impacted by tariffs? Our cross-border team examines recent case law.
Feb 26, 2025
News
An energy-based economy requires “commercially reasonable” approval timelines
Mar 27, 2025
Insight
Don’t open yourself up to claims when open-air space forms part of your leased premises
Ontario Court of Appeal provided insights into contract drafting and interpretation, reminding landlords and tenants to exercise prudence in structuring arrangements.
Feb 28, 2025
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Recent Work Highlights

  • Creation of a Canadian banking leader with growth priorities across Canada
    Torys acted as counsel to Canadian Western Bank in its C$5.3 billion sale to National Bank of Canada, one of the six largest banks in Canada
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  • Creation of the leading alternative lender in Canada
    Torys acted as counsel to Smith Financial in the merger of Home Trust Company with Fairstone Bank of Canada to create the leading alternative lender in Canada
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  • One of the largest acquisitions in the LP-led private funds secondaries market in 2024
    Torys acted for Mastercard Foundation Asset Management Corporation in a US$540.6 million bespoke LP-led secondary transaction to acquire private equity ownership interests and certain other illiquid assets held by Kodak Retirement Income Plan Trust, the U.S. pension arm of the Eastman Kodak Company
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  • Precedent setting Supreme Court decision, redefining corporate attribution doctrine and the first decision in Canada to apply it in the insolvency context

    Torys acted as counsel to KSV Kofman as trustee in bankruptcy for FormaCon Construction (an affiliate of Bondfield Construction) at the Supreme Court of Canada upholding one of the largest “transfer-at-undervalue” (fraudulent conveyance) applications in Canada and creating new precedent on the “contextual” application of corporate attribution doctrine

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We are proud of our reputation for legal excellence. 81% of our Canadian partners are ranked by Chambers Canada, the highest percentage among Chambers’ Elite-ranked firms.
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Exceptional collaboration.
We enjoy working with each other and view all our clients as clients of the firm. That is why 85% of our work involves cross-practice collaboration and over two thirds of our top 100 clients are served by 5 or more of our practices.
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81%
Chambers-ranked Canadian partners
85%
Cross-practice work
> 2/3
clients working with 5+ practices

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