Canadian Lawyer - sample

w w w . C A N A D I A N L a w y e r m a g . c o m S E P T E M B E R 2 0 1 6 35 trades and the marketplace," says Alam. The firm relies upon translators or the developer's in-house staff to com- municate with the Asian investor. "There have been discussions around our part- ners' table about whether we should be adding language skills," he says, believ- ing that they are becoming increasingly important. The firm may sit in on early negotiations and he sees the benefit in having the ability to monitor the flow of information the translator is providing. McMillan's Steve Wortley, in charge of the firm's Hong Kong office and co- chairman of the firm's China Invest- ment Group, thinks there will only be a deepening of business ventures between China and Vancouver. McMillan opted into the Chinese market early, focusing on three thrusts: investing dollars from China into Cana- da, bringing Canadian dollars into Chi- nese efforts, and helping Chinese compa- nies gain exposure to the Canadian stock exchanges. It started in the 1990s with Wortley bringing Chinese companies to the Toronto Stock Exchange and firms establishing in Vancouver. He's seen the Asian flow of dollars deepen in joint- ventures, new businesses and acquisi- tions. (Even the Agricultural Bank of China has headquarters in Vancouver.) He credits much of the growth to the 2012 forged tax agreement between Hong Kong and Canada. "The real driver has been the Hong Kong Double Tax Agreement," Wortley says, as it allows investment dividends returned to Hong Kong to be taxed as low as five per cent from a high of 25 per cent tax. Wortley doesn't see Chinese invest- ment ebbing; the growing wealth in a burgeoning middle class and govern- ment-supported investment banks are both looking abroad for new investment opportunities. But changes have occurred. In the past, Chinese investors have been reluc- tant to seek third-party advice on deals until they were well along. They are now more open to let investment banks, accountants and lawyers help evaluate opportunities, he says. The other trend is that investors are looking at "broader opportunities" that are "more meaningful," he says, refer- ring to the Harbour Air Seaplanes deal with which McMillan was involved. The Zongshen's Tianchen General Aviation Co. picked up 49 per cent of the coastal seaplane company, including 25 per cent of its voting shares, in 2015. Part of the agreement sees Harbour Air's pilots training Chinese seaplane pilots so that seaplane charter service can be offered along China's major rivers. While the B.C. company benefited from the invest- ment by allowing it to grow, the Chinese company took expertise home to a bur- geoning new market as Chinese private air space opened. "The best transactions are those that bring components [new businesses] and capital into Canada and allow Cana- dian management and know-how to be brought out to different parts of the world," says Wortley. Vancouver city report Get expert insight on the legislation and case law impacting roads, streets, and highways. This classic resource offers a practical approach to 41 key road principles in Ontario. For each principle, you'll find a concise explanation and the historical background as well as the most recent cases and a review of the Municipal Act, 2001. New in this edition • Eight new road principles – Private Access Roads – "Seasonally Maintained" Roads – Road Easements: The 40 Year Shelf Life under the Registry Act – Letters of Credit: Municipal Services – "Improved Roads" Surveys – Public Lands Act: Roads Under – Local Roads Boards: Roads Administered By – Road Allowances: Mistakes When Opening • References to new legislation • Recent judicial decisions • Two new chapters Turn to Russell on Roads, 3rd Edition, and you'll understand the issues, prepare for the problems, get immediate access to the case law, and make sense of it all with clear commentary. Faced with a road problem in Ontario? Russell on Roads, 3rd Edition W.D. (Rusty) Russell, Q.C. Order # 986453-65203 $113 Softcover approx. 450 pages April 2015 978-0-7798-6453-9 Shipping and handling are extra. Price(s) subject to change without notice and subject to applicable taxes. 00236WM-A54293 Available risk-free for 30 days Order online: www.carswell.com Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800

• Cover