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Banking and Financial Services
Banking and Financial Services

McInnes Cooper provides a board range of banking and financial legal services to Canadian and foreign banks and other financial institutions. We also assist many local, national and international businesses, including US enterprises that carry on business in Canada using Nova Scotia unlimited liability companies, with their debt financing and other legal requirements in Atlantic Canada.


Our Banking and Financial Services Group regularly structures, negotiates and completes complex transactions for lenders and borrowers involving syndicated loans, asset-based financings, acquisition and project lending, real estate and personal property secured loans, and unsecured credit transactions. We have significant experience in wind farm, ship, oil rig and first nations’ debt financings. Canada/US cross-border financings and related corporate reorganizations and tax work also form a significant part of our work.


Our integrated offices located in all major urban centers throughout Atlantic Canada enable us to provide clients with seamless, prompt service across our region. This provides clients with single point of contact for all cross-provincial work required in Atlantic Canada and single, all-inclusive Atlantic Canadian legal opinions for transactional work.


The depth of experience of our Banking and Financial Services lawyers and their team approach in serving clients across Atlantic Canada enables us to provide timely, efficient service, backed by our firm’s Client Satisfaction Guarantee. Our Banking and Financial Services Group is supported by our Corporate Services Department staffed by law clerks and professional assistants throughout Atlantic Canada.


Our representation of numerous borrowers, guarantors and other participants in the lending process provides us with constant feedback on market terms and conditions, knowledge that assists all our clients.


We are thoroughly familiar with all forms of security documents available for both personal and real property, and the mechanics and legal effects of various securitization procedures. Our legal assistants have access to and are expert at using electronic filing services; where paper registrations are required, our offices are conveniently located to minimize filing time.  This enables us to expedite closing time-sensitive transactions which in turn enables our clients to better serve their customers.


We also have a robust insolvency and restructuring practice throughout the Atlantic Region, and other Canadian and foreign jurisdictions. We have acted for creditors and debtors in all aspects of bankruptcies, proposals, receiverships, interim receiverships and CCAA proceedings. Our international work encompasses filings under Chapter 15 of the US Bankruptcy Code, proceedings and transactions in the Caribbean, and recognition of foreign insolvency proceedings in many other foreign jurisdictions.


Understanding how lending and security structures can be tested in insolvency situations allows us to design stronger legal frameworks to protect lenders.


Many of our Banking and Financial Services lawyers have been repeatedly recognized by the Canadian Legal Lexpert Directory and Best Lawyers as the leading practitioners in banking and financial services and corporate law in Atlantic Canada.



Nova Scotia

David Feindel



Legal Update: PIPEDA Leaves Lender Out in the Cold in Royal Bank of Canada v. Trang – 5 Reasons to Review Your Loan Agreement
December 23, 2014

On December 9, 2014, the Ontario Court of Appeal decided that the Protection of Personal Information and Electronic Documents Act (PIPEDA) prevents a mortgagee from disclosing the mortgagor’s discharge statement to another lender – even when that lender has a judgement against the mortgagor – without either the mortgagor’s express consent or a specific court order. The decision

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Legal Alert: SCC Comes Down Firmly on the Side of Consumer Protection in Financial Services Sector in Bank of Montreal v. Marcotte, Amex Bank of Canada v. Adams and Marcotte v. Fédération des caisses Desjardins du Québec
September 22, 2014

On September 19, 2014 the Supreme Court of Canada decided that provincial consumer protection legislation applies to banks and credit unions in credit matters. The decisions increase the sphere of provincial legislation that could apply to federally regulated financial institutions, give the provinces greater scope in consumer protection, and send financial institutions a strong message

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Legal Update: PEI Court Of Appeal Says “Knowledge” Not “Notice” Of Lien Sufficient For Priority Over Subsequent Mortgage in BMO v. 100875 P.E.I. Inc.
July 31, 2014

On July 9, 2014, the Prince Edward Island Court of Appeal released its much awaited decision in BMO v. 100875 P.E.I. Inc. The decision will have a significant impact on PE’s construction industry and its financiers going forward.  The Court of Appeal was asked to determine whether, based on the specific facts, the lienholder or

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Legal Update: Share Purchase Transactions – Tips For Lenders
April 29, 2014

Lenders are often faced with a situation where a customer (Borrower) approaches them for funds to complete an acquisition of the shares of a target company (Target). There is, however, a catch: often the security for the loan will be the assets of the Target itself. This creates a chicken and egg problem: the Borrower

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Legal Update: General Security Agreements – Tips and Traps
August 28, 2013

A general security agreement (GSA) is the most common form of personal property security used in the Atlantic Provinces to secure commercial loans and other business obligations owed to a financial institution or other creditor (Secured Party).  A GSA is an effective and efficient way to obtain security over business assets to secure commercial obligations. 

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McInnes Cooper’s Michelle Awad, QC recognized by Benchmark Canada as one of the Top 25 Women in Canadian Litigation 2014
July 24, 2014

On July 18, 2014, McInnes Cooper Partner Michelle Awad, QC was recognized by Benchmark Canada as one of Canada’s top 25 women litigators in Benchmark’s inaugural Top 25 Women in Canadian Litigation list. Benchmark determined the winners of this honor through its research process for the 2014 edition of Benchmark Canada, which extended from October 2013 to January 2014.

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