Toronto (Canada) – Fasken is highlighted as a key player in one deal and an intervenor in two of the top cases in Lexpert®’s Top 10 Deals and Business Decisions of 2017. This annual list outlines the most significant Canadian legal decisions and deals in the last twelve months, and is solicited from lawyers across the country involved in a number of practice areas.
Fasken acted for OneREIT and the OneREIT Special Committee in the acquisition by SmartREIT and Strathallen Acquisitions Inc. of OneREIT, which made Lexpert®’s top 10 list this year. The privatization transaction, valued at $1.1 billion, was effected via asset sales of all of OneREIT’s properties and the assumption or payment of all its long-term debt and other liabilities. OneREIT then used the sales proceeds to redeem all of its publicly traded units. The team led by Jon Levin, included Anil Aggarwal, Aaron Atkinson, Laura Fetter, David Steinhauer and Matthew Downer (M&A), Brad Moore and Jonathan Wansbrough (Litigation), Mitchell Thaw and Paul Casuccio (Tax) and Huy Do (Competition).
In this special edition, Lexpert® quotes Fasken’s Jon Levin, who states, “one indication of the success of this extraordinarily complex deal was the overwhelming unitholder vote of approval”.
Fasken was also involved in two cases that were chosen in Lexpert®’s top 10 business decisions of last year, which both went before the Supreme Court of Canada:
- Google Inc. v. Equustek Solutions Inc., 2017 SCC 34: A Fasken team, including Daniel Byma, acted for the intervenor Electronic Frontier Foundation. This landmark decision upheld an injunction restraining Google, a non-party to the litigation and non-resident corporation, from publishing offending websites in its search results worldwide. This decision opens the door for those who are harmed by online activity to protect their personal interests by possibly obtaining orders against third parties in other jurisdictions who themselves have not been accused or found liable of any wrongdoing.
- AstraZeneca Canada Inc. v. Apotex Inc.: Fasken represented the intervenor, the International Federation of Intellectual Property Attorneys, arguing against the “Promise Doctrine”. Julie Desrosiers led the Fasken team. All nine judges accepted Julie’s argument and ruled the doctrine was not part of Canadian patent law and defined a new approach to its test, thereby considerably changing the law on patents.
Fasken is a leading international law firm with more than 700 lawyers and 10 offices on four continents. Clients rely on us for practical, innovative and cost-effective legal services. We solve the most complex business challenges, providing exceptional value and putting clients at the centre of all we do. For additional information, please visit our website at fasken.com.
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