big deals - Robins Appleby LLP

Big Deals | Writing/Published | Speaking Engagements | Event | Special Feature
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May 2014
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For more information about the legislation, please click here to read Darrell M. Gold's article. ▶
BIG DEALS
Robins Appleby LLP Completes Cloud 9 and Wallace Walk
Condominium Financings
RBC recently completed two major condominium financings with the assistance of the Real Estate
Group at Robins Appleby LLP. The Wallace Walk loan was a $45 Million facility handled by Real Estate
Group leader Leor Margulies and senior law clerk, Audrey Weaver. The $40 Million financing for the
Cloud 9 project was led by John Fox, a partner in our Real Estate Group and senior law clerk, Cindy
Applegath.
Cloud 9 is expected to be a 12-story mid-rise project with approximately 260 residential units in north
Etobicoke. Wallace Walk will comprise nine – three and a half storey residential buildings in the Dundas
and Lansdowne Avenue area containing 167 stacked townhouses. Both projects are good examples of
the types of affordable housing that developers in Toronto are bringing to the market.
Our Real Estate group is proud to have assisted RBC in completing both of these financings. Sean
McIlveen, the Senior RBC Account Manager handling the Cloud 9 account, is quoted as saying "you
guys were superb through this whole process. I can't say enough about the professionalism and
tenacity you both exhibited."
LAWYERS WRITING/PUBLISHED
Section 56.4 of the Income Tax Act: New Rules Relating to
Restrictive Covenants
by David Segal, Student-at-Law
The recent enactment of Section 56.4 of the Income Tax Act (Canada) (the “Act”), has important tax
implications for people who receive payments for restrictive covenants like those under a noncompetition or non-solicitation agreement.
Click Here to read more ▶
Representations v. Warranties - Are they Different? Do
You Know the Difference?
by Darrell Gold
Almost every agreement, including many leases, contains clauses that purport to be representations
and/or warranties. In many cases the parties may not understand the differences between them,
including the rights and remedies that flow from a breach of either one.
Click Here to read more ▶
Should The Client Sue?
by Barbara Green
Janine is a top civil engineer at a prestigious Canadian firm. She accepted an offer from a
competing company that gave her a better title and a 20% raise. Six months later, things
aren’t so rosy. She’s been taken off important projects and left out of big meetings. She
regrets leaving her previous firm. Further, she believes her employer isn’t giving her the
chance to prove herself, after luring her away from a good job. In her eyes, the situation
has all the signs of pending constructive dismissal. She’s considering suing.
Click Here to read more ▶
2014 Federal Budget Update: Gifts by Will
by Arin Klug
The Conservative government's 2014 Federal Budget was presented on February 11, 2014 and
contains several proposals that will affect many of the strategies that tax and estate planning
practitioners currently use to structure their clients' affairs. While some of the proposals will restrict or
eliminate some of the tax and estate planning tools that are currently available to professional advisors,
others will provide new planning opportunities.
Click Here to read more ▶
David Shlagbaum interviewed by Advisor's Edge Report
David Shlagbaum was part of a panel of three experts, including Stan Tepner (VP, CIBC Wood
Gundy) and Malcolm Burrows (Head, Philanthropic services, Scotiabank), interviewed for the lead
article in the January, 2014 edition of Advisor's Edge Report, on the matter of Morris Lewis: a case
study on succession and estate planning.
Read the interview here ▶
LAWYERS SPEAKING ENGAGEMENTS
John Fox and Leor Margulies
April 9 – Partnering with the Private Sector – Northern Ontario Service Deliverers Association,
Sault Ste Marie
John Fox a partner in our Real Estate Group spoke to housing officials from across Northern Ontario,
from Timmins to Rainy River, about the pros and cons of working with the private sector to renew
housing stock and build additional housing. Northern Ontario housing providers face the same
challenges as the rest of Ontario as federal housing subsidies dwindle, but have the added challenge of
operating in an environment with limited access to trades and certain kinds of materials. We were
delighted to play a role in helping providers find new ways to address those needs.
May 13 – Land Development Conference in Toronto
Transaction Activity In The GTA Land Market: What Bellwether Deals Have Been Done?
Looking through the lens of the transaction they have been involved in, John Fox, a partner in our Real
Estate Group, moderated a panel of industry experts as they laid out the trends they are seeing in the
industry and how it will impact urban development. The impact of the zoning process on transactions,
the impact of transit, and good old fashioned prognostication were all discussed. The Group foresees
continued activity in the core of Toronto. but sound the alarm for Vendors, warning that the days of
overpricing a property and still attracting a good response, are over.
What is actually happening in the Condominium Market in GTA
Leor Margulies, a partner in our Real Estate Group, moderated a lively panel, including Jeanhy Shim
of Housing Lab Toronto, Peter Freed of Freed Developments, Shaun Hillebrand of Urbanation and
Mark Reeve of Urban Capital. Topics ranged from the investor market, new ownership vehicles, the
legacy of small units and a host of other interesting topics. The panelists agreed that the one thing that
keeps them up at night, other than young children in Peter Freed's case, is development charges. No
surprise there!
LAWYER EVENT
Robins Appleby LLP 8th Annual Purim Holiday Lunch and
Learn is a HUGE success!
On March 14, 2014, Darrell M. Gold a partner in our Real Estate Group hosted the "8th Annual
Robins Appleby LLP Purim Lunch and Learn". With over 60 business people attending, it was by far
the highest turn-out for the event! Guests were treated to a presentation by Rabbi Ahron Hoch of the
Village Shul and Aish HaTorah Learning Centre, a delicious lunch courtesy of Hartmans Fine
Kosher Food and our famous "Single-Malt Scotch" draw along with new draws for Purim Gift Baskets
and a Hartmans gift certificate. Most importantly, in the spirit of Purim, guests made donations to the
Chabad Lubavitch Yeshiva of Toronto. The Purim holiday commemorates the deliverance of the
Jewish people in Persia (now Iran) 2300 years ago from a death decree orchestrated by "Haman", the
royal advisor to the Persian King, Xerxes I.
SPECIAL FEATURE
Interview with Gerry Taub
How long have you been with Robins Appleby LLP?
I started out at Robins & Partners on February 1st, 1980, which changed its name from time to time
(one and the longest in use was Robins, Appleby & Taub) from which Robins Appleby LLP evolved.
How is the Real Estate practice different now from when you first started?
There is no comparison. When I started you began your career from the "bottom", in the Registry
Office, searching titles and closing deals face to face. The use of precedents was not in vogue to the
same degree as it is now. Technology was just starting with the Xerox manual feed. Dictating was by
shorthand and dictating equipment was reel to reel. Faxes had not been created. Deliveries were by
taxi, mail or courier. Today the pace is "instant". Documents are created in a fraction of the time that
they were back then. Billings were not on an hourly basis but what would the market bear. When billing,
if the client took a hit, you cut your fee but made it up when the client made a "score". The relationship
between the lawyer and client was more personal. The "assistants" were secretaries many of whom,
like today, knew more about completing a deal than the lawyers and were greatly relied upon.
What characteristic do you think a person needs to be a successful Real Estate Lawyer?
They must have a basic grounding in the fundamentals of contract law and property law from
"Berashis". You cannot go from law school to lawyering. Also they must develop a credible relationship
with the other sides lawyer. It makes life easier.
Click here to read the entire interview ▶
The comments contained in this article provide general information only and should not be relied upon as legal
advice. Further particulars on the matters summarized in this report, their implications and suggested courses of
action, can be obtained from Robins Appleby LLP using the contact information provided herein. This e-mail is
being sent to you as a contact of our Firm.
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