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
Arif Virani joins Torys as Senior Counsel
Torys is pleased to announce that the Honourable Arif Virani, P.C., K.C., has joined the firm’s Litigation and Dispute Resolution Practice as Senior Counsel.
Jun 26, 2025
Insight
Don’t just do it—justify it! Supreme Court confirms that justification is key in administrative decision-making
The decision is the latest signal from the courts that administrative decision-makers cannot simply assert their preferred interpretation of a statutory provision.
Jul 2, 2025
News
Krista Hill honoured with Rainbow Railroad’s Freedom Award
Jun 13, 2025
Insight
Government re-introduces cybersecurity bill for “vital” federal industries
Bill C-8 aims to strengthen cybersecurity protocols for “vital” services.
Jun 26, 2025
News
Torys supports the launch of Black Opportunity Fund’s BOF Capital
This first-of-its-kind investment company will help build generational wealth for Black communities across North America.
Jun 6, 2025
Podcast
BWA: All about interjurisdictional immunity
The BWA panel discusses the division of powers between provincial and federal governments.
Jul 10, 2025
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Recent Work Highlights

  • Proposed US$9.1 billion sale of Parkland
    Torys is acting as counsel to the special committee of Parkland Corporation in its proposed US$9.1 billion sale to Sunoco LP
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  • Rogers C$7 billion innovative equity investment
    Torys acted as counsel to Rogers Communications in an innovative C$7 billion equity financing transaction with an investor group led by Blackstone to finance a portion of its wireless network and materially reduce its leverage
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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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81%
Chambers-ranked Canadian partners
85%
Cross-practice work
> 2/3
clients working with 5+ practices

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