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Expertise / Sectors / Banking
“‘Blakes is an excellent legal advisory firm,’ [with] ‘a strong overall culture centred on client focus, responsiveness and industry expertise.’ Other sources praise the firm's ‘deep bench strength’ and ‘very commercial advice,’ with one saying: ‘They are superb lawyers.’” 
Chambers Canada: Canada’s Leading Lawyers for Business 2021 ranks Blakes in Band 1 for Banking & Finance

Burgeoning customer expectations, the need for innovation and accompanying risks, and an ever-changing regulatory and competitive environment are key factors changing the way banks do business. It is more important than ever for banks to have access to trusted banking lawyers with the right legal expertise, industry knowledge and understanding of their business.

We advise many of the largest and most highly regarded Banks and financial services providers in Canada, the U.S., Europe and Asia, as well as other non-Canadian financial service providers on structuring cross-border arrangements in compliance with Canada’s banking legislation and other applicable Canadian laws. We also assist clients in their dealings with federal, provincial and industry regulators. Blakes has built top-tier practices across all areas that really matter to banks.

Our dedicated cross-country and cross-disciplinary team of leading banking lawyers includes M&A, technology, competition, regulatory, data protection, privacy, technology, treasury, employment and marketing, as well as lending and litigation.

We assist clients with:

  • A variety of domestic and cross-border financing transactions
  • The establishment or acquisition of financial services entities
  • The development of business and consumer loan and leasing programs
  • Compliance with the federal and provincial regulatory requirements that apply to financial services entities and their products and distribution networks
  • Anti-money laundering, anti-bribery, anti-foreign corruption and sanctions
  • The purchase and sale of lease, loan and credit card portfolios and deposit businesses
  • First Nations finance and banking
  • Franchise finance
  • Time-share financings
  • Consumer and commercial loan and lease programs
  • Letters of credit
  • Securities lending
  • Financial products and services distribution arrangements
  • Outsourcing by financial institutions
Read more
Recent Experience
  • A syndicate of Canadian lenders, led by The Toronto-Dominion Bank as agent, on the C$96.5-million acquisition of Stuart Olson Inc. by Bird Construction, including the payment of C$70-million in cash to the lenders in consideration for the satisfaction of all outstanding bank debt.

  • Republic Financial Holdings Limited in its acquisition of Scotiabank (British Virgin Islands) Limited from The Bank of Nova Scotia

  • CIBC in connection with its US$1-billion multijurisdictional disclosure system offering of 3.1 per cent senior notes due 2024.

  • A syndicate of underwriters led by CIBC Capital Markets, RBC Capital Markets and TD Securities Inc. on Aritizia Inc.’s secondary offering of C$329,634,500 and repurchase of C$107,038,736 subordinate voting shares from Berkshire Partners LLC.

  • A syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets on a public offering by Choice Properties Real Estate Investment Trust for approximately C$395-million.

  • TD Securities Inc. and BMO Nesbitt Burns Inc. and the syndicate of underwriters in connection with an offering of units of Automotive Properties Real Estate Investment Trust.

  • Canadian Imperial Bank of CommerceJ.P. Morgan Chase & Co. and RBC Capital Markets, as joint global leads, in connection with the financing of the C$8.5-billion Sturgeon refinery project being developed by North West Redwater Partnership.

  • MBNA Canada Bank on the sale of its C$8.5-billion credit card portfolio to The Toronto-Dominion Bank.

  • JPMorgan Chase Bank, N.A., as DIP agent, in connection with the US$2.3-billion DIP facility to Toys “R” Us Canada and its U.S. parent.

  • MCAP Financial Corporation on its C$1.5-billion mortgage purchase from Home Trust Company.

  • The syndicate of lenders in connection with the establishment of credit facilities in favour of Wolf Midstream Inc. to finance (on a project-financing basis) its acquisition of a 50 per cent ownership interest in the Access Pipeline from Devon Energy Corp. for C$1.4-billion.

  • The Toronto-Dominion Bank, as lead arranger, in connection with the C$1-billion and US$500-million credit facilities for Parkland Fuel Corporation to finance its acquisition of Chevron Canada's downstream fuel business in B.C. and Alberta.

  • Canadian Imperial Bank of Commerce, as agent, in connection with credit facilities totalling C$900-million for Richardson International Limited.

  • The Toronto-Dominion Bank on its C$792-million acquisition of Greystone Capital Management Inc.

  • Aareal Bank AG in connection with a C$716-million syndicated financing for a group of Canadian hotels, the largest (by number of properties) hotel financing in Canada, covering a portfolio of 23 hotel properties across the country.

  • Canadian Tire Corporation on its agreement with Scotiabank regarding a strategic partnership that will see Scotiabank acquire a 20 per cent equity interest in Canadian Tire's financial services business for C$500-million in cash.

  • Canadian Imperial Bank of Commerce, as administrative agent, in connection with a C$100-million syndicated revolving credit facility provided to Northland Power Inc.

  • Silicon Valley Bank on the establishment of a Canadian branch.

  • The Bank of Nova Scotia on the sale of the business and assets of Roynat Lease Finance, a division of its subsidiary Roynat Inc., to Meridian Credit Union Limited.

  • Morgan Stanley Capital Partners in relation to its acquisition of Access Cash Limited Partnership, a Canadian ATM operator.

  • Canadian federal and provincial financial institutions on the rules governing payments systems in Canada, as well as on legal matters relating to payment clearing and settlement.

  • A large bank on multiple strategically significant contracts for technology-based services and solutions, including for projects relating to the digitization of retail banking performance evaluations and a strategic initiative to implement a global fixed-income solution for wholesale operations.

Awards & Recognition
  • Chambers Canada: Canada's Leading Lawyers for Business 

  • Chambers Global: The World’s Leading Lawyers for Business 

  • The Canadian Legal Lexpert Directory (Blakes is “Most Frequently Recommended” in Banking & Financial Institutions every year since the directory’s inception in 1997).

  • The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada (“Most Frequently Recommended” in Banking & Financial Institutions)

  • Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada 

  • IFLR1000: The Guide to the World’s Leading Financial and Corporate Law Firms 

  • The Legal 500 Canada 

  • Who's Who Legal: Banking 

  • Who's Who Legal: Canada 

  • Who's Who Legal: Project Finance

  • Who's Who Legal: Transport – Aviation Finance

  • Euromoney’s LMG Banking, Finance and Transactional Expert Guide 

  • The Best Lawyers in Canada 

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