Legal news and trends for Canadian in-house counsel and c-suite executives
Issue link: https://digital.canadianlawyermag.com/i/1295479
www.canadianlawyermag.com/inhouse 7 BUSINESS NEWS contract is valued at $967.5 million. Fraser Crossing Partners, selected by the Province of B.C. to design, build and partially finance the project, is a 50/50 joint venture between Aecon and Acciona. The new four-lane cable-stayed bridge over the Fraser River will provide network connections to New Westminster and Surrey and will feature a centre safety median barrier and wider lanes to accommodate both passenger and commercial vehicles. CBHP reaches financial close for hospital project CBHP Limited Partnership, with a consortium consisting of Plenary Group Ltd., PCL Constructors Canada Inc., Marco Services Ltd. and Johnson Controls Canada, reached financial close for an approximately $750-million contract with Western Regional Health Authority and Her Majesty the Queen in Right of Newfoundland and Labrador to design, build, finance and maintain the new Corner Brook Acute Care Hospital Project in Corner Brook, Newfoundland. The new facility will be attached to the Corner Brook Long Term Care Hospital and will encompass seven storeys, 600,000 square feet and 164 beds. RBC completes $1.25 billion offering The Royal Bank of Canada has completed a $1.25-billion offering of non-viability contingent capital subordinated debentures through its Canadian Medium Term Notes Program. The notes bear interest at a fixed rate of 2.088 per cent per annum, paid semi-annually, until June 30, 2025, after which point the notes will bear interest at a floating rate at three-month CDOR plus 1.31 per cent, paid quarterly, until June 30, 2030, which is the maturity date of the notes. Stage two Trillium Line south extension reaches financial close The City of Ottawa and TransitNEXT reached financial close on the Stage 2 Trillium Line south extension, a key component of Ottawa's $2.366-billion stage 2 LRT project. The south extension will add 16 kilometres of new rail and eight new stations, extending the O-Train network farther south from Greenboro Station to Limebank Station, with a link to the Ottawa Macdonald-Cartier International Airport. The project also entails the maintenance of the existing Trillium Line assets, the supply of seven new light rail vehicles and the overhaul of six existing light rail vehicles. Gibson Energy and USD sanction construction of DRU Gibson Energy Inc., (a Calgary-based oil infrastructure company) and US Development Group, LLC have formed a 50/50 joint venture to advance the construction of a Diluent Recovery Unit at the Hardisty Terminal and have finalized the required commercial agreements to sanction the development and construction of the initial phase of the DRU at 50,000 barrels per day of inlet bitumen blend capacity and enable rail shipments of DRUbit™ to the U.S. Gulf Coast. The joint venture has also executed an engineering, procurement and construction agreement with WorleyCord for completion of certain DRU facilities. Fraser Crossing Partners closes on B.C. bridge project Aecon Group Inc. announced that Fraser Crossing Partners had reached financial close on the Pattullo Bridge Replacement Project in British Columbia. The total Vancity welcomes Ann Tuck as GC Ann Tuck has joined Vancity Credit Union as vice president, legal affairs and general counsel. She is a trusted advisor to the executive leadership team on business strategy and legal risks while leading the legal affairs team and corporate insurance program. Prior to joining Vancity in May, Tuck served as vice president, general counsel and corporate secretary at Corix Group of Companies. Tuck obtained her law degree from the University of British Columbia and is an executive member of the Canadian Corporate Counsel Association. Vancity is a values- based financial co-operative, focused on developing social, economical and environmentally sustainable communities. Christina Porretta Joins BDO Canada as GC Christina Porretta made the leap to an in-house role after 10 years at Dentons, most recently as a partner. As general counsel, chief privacy officer and chief anti-money laundering officer at BDO Canada, Porretta is involved in many aspects of the business, including litigation management, privacy, regulatory compliance, employment and reviewing complex contracts. Also a member of the national leadership team, Porretta provides strategic legal advice to senior leaders of the firm. She and her legal team have been very active in supporting leadership during the pandemic crisis, while also keeping on top of the day-to- day workload.