Torys Legal Services Centre
1871 Hollis St., Suite 200
Halifax, NS B3J 0C3 Canada
Torys’ Legal Services Centre (LSC) in Halifax is the firm’s hub for tailored service models addressing high-volume or recurring corporate legal work. We use bespoke solutions using technologies, tools and processes to help our clients meet goals and find efficiencies.
We collaborate with clients and legal practitioners across the firm to deliver the best possible counsel, while reducing client costs and risks. Whether on standalone projects, a phase of a larger project, or ongoing assignments, clients benefit from elite legal and business acumen, predictable fixed-fee pricing and process refinements across the spectrum of corporate services.
A legal department of a global investment manager faced an ever-increasing volume of commercial contracts to review, while maintaining responsibility for their organization’s growing global investments across multiple industries and markets, causing a strain on time and resources available.
Torys helped to develop a contract intake questionnaire to support the legal team in evaluating the risk a given matter represents to the organization, a tool which informs both appropriate allocation of resource (in-house legal, non-legal, external counsel) and the framework required for that resource to complete the matter.
In its pursuit of potential investment opportunities, a global institutional investor enters into non-disclosure agreements on a daily basis with parties around the world. Each non-disclosure contract is unique and must meet the investor’s own guidelines, circumstances and operations. Managing the high volume of these agreements on a timely basis posed an ongoing challenge for the busy in-house legal team.
Torys established a program to streamline the contract review process. Under the new program, the LSC team engages directly with the investor’s business people and reviews their proposed contracts within one business day, ensuring the investor’s unique guidelines are met. The team also participates in negotiations with the other parties with a view to solving differences. Unsettled, signiﬁcant differences are brought to the attention of the in-house legal counsel for ﬁnal resolution.
For over a decade, Torys has worked with leading Canadian ﬁnancial institutions across a variety of new issue securities offerings. Some of the medium-term note (MTN) programs in particular have seen volumes rise sharply in recent years, and Torys was keen to ﬁnd a way to manage the increased volume in a more efﬁcient way for our clients.
Torys transitioned a signiﬁcant amount of this work to the LSC to introduce process efﬁciencies across the spectrum of our legal services and address the high volume. Working closely with our clients, the LSC established a range of improvements that included new processes and new technologies. Key changes included a dedicated LSC team serving our clients directly, resulting in improved and consistent work product; bespoke internal websites to track note ﬁlings and closings; and the sharing of the right resources to do the work effectively.