Legal news and trends for Canadian in-house counsel and c-suite executives
Issue link: https://digital.canadianlawyermag.com/i/1181006
www.canadianlawyermag.com/inhouse 3 canadianlawyermag.com/inhouse GCs are most often the ones who navigate this complicated internal and external web of stakeholders to ensure things run smoothly. Be careful what you wish for C anada is hot. While Canadians can justifiably be accused of being smug at times, when it comes to foreign investment, we have reason to be proud. For corporate counsel in Canada and the law firms that advise them, the activity is happening on many fronts. Foreign investors, mostly from the U.S. but increasingly from all over the world, see Canada as a safe bet. Foreign companies with a Canadian presence are growing, too. While this is a good news story for the Canadian economy, for general counsel in Canada, it can be a case of "be careful what you wish for." The challenges for lawyers in this role are immense. As Robert Soccio, general counsel at Navistar, told us (p. 20), any sort of cross- border transaction that involves one or more jurisdictions puts a lot of pressure on tax teams, legal teams, accounting teams and internal business groups. And GCs are most often the ones who navigate this complicated internal and external web of stakeholders to ensure things run smoothly. GCs based in Canada can often identify red flags, like when a foreign acquiror wants to use acquisition documents that are not acceptable in Canada or when foreign headquarters fail to understand the subtle cultural differences that can affect the success of a deal. And it isn't only during an acquisition that things can go wrong. Often, after the dirt settles and the transaction is done, the troubles can still linger. Integrating the acquired business into the purchasing company can be daunting and can cause many headaches for GCs after the external law firms have left and docketed all their time. So, while Canadians are justified in feeling pride about all the interest our market is generating outside our borders, this is no time for anyone, especially GCs, to be complacent. With cross-border deals, things are highly complex and never settled. However, no one is better placed to manage the risk and take much of the credit for a successful cross-border deal. The world is interested in Canada. This is cause for celebration. But it is also just the beginning of a long and difficult process that general counsel are best equipped to navigate. Tim Wilbur, Editor-in-Chief EDITOR'S BOX Canadian Lawyer InHouse is published 6 times a year by HAB Press Limited. KEY MEDIA and the KEY MEDIA logo are trademarks of Key Media IP Limited, and used under license by HAB Press Limited. CANADIAN LAWYER INHOUSE is a trademark of HAB Press Limited. All rights reserved. Contents may not be reprinted without written permission. The opinions expressed in articles are not necessarily those of the publisher. Information presented is compiled from sources believed to be accurate, however, the publisher assumes no responsibility for errors or omissions. Canadian Lawyer InHouse disclaims any warranty as to the accuracy, completeness or currency of the contents of this publication and disclaims all liability in respect of the results of any action taken or not taken in reliance upon information in this publication. Publications Mail Agreement #41261516 ISSN 0703-2129 ©2019 GST/HST Registration #703184911RT001 RETURN UNDELIVERABLE CANADIAN ADDRESS TO: CIRCULATION DEPARTMENT 20 Duncan St., 3rd Floor, Toronto, ON, M5H 3G8 HAB Press Limited 20 Duncan St., 3rd Floor Toronto, Ontario M5H 3G8 tel: +1 416 644 8740 www.keymedia.com EDITORIAL INQUIRIES tim.wilbur@keymedia.com CIRCULATION/ADDRESS CHANGES/ SUBSCRIPTION INQUIRIES Keith Fulford tel: 416 649-9585 • fax: 416 649-7870 keith.fulford@keymedia.com ADVERTISING INQUIRIES legaladvertise@keymedia.com EDITORIAL Editor-in-Chief Tim Wilbur Writers Lucy Saddleton, Aidan Macnab Copy Editor Patricia Cancilla CONTRIBUTORS Jean-François De Rico, Pascal Archambault, Victor Krichker, Paul Blizzard, Jahmiah Ferdinand-Hodkin, Stefan Cyr, Karine Millette ART & PRODUCTION Art Director Brianna Freitag Lead, Media Production Coordinator Catherine Giles Global Production Manager Alicia Chin SALES & BUSINESS DEVELOPMENT Head of Sales Paul Burton Consultant, Strategy and Business Development Ivan Ivanovitch Account Executive Steffanie Munroe Senior Advertising Consultant Ritu Harjai CORPORATE President Tim Duce Events and Conference Manager Chris Davis Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil Global CEO Mike Shipley Global COO George Walmsley