Lavery supports the Caisse de dépôt et placement in various financing transactions with Stornoway

July 30, 2014

Stornoway Diamond Corporation recently announced that it had closed its financing transactions with Orion Mine Finance, Ressources Québec (a wholly owned subsidiary of Investissement Québec) and the Caisse de dépôt et placement du Québec. The financing transactions, totalling almost $1 billion, are intended to provide a comprehensive funding package for the construction and opening of the Renard diamond mine north of Chibougamau.

Under the supervision of Benjamin Gross, Lavery’s team represented the Caisse in these financing transactions. The Caisse invested more than $100 million in the form of debt, equity, and streaming (the purchase of part of production).

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November 28, 2024

Lavery helps the Société du parc Jean-Drapeau adjust Canadian Grand Prix (F1) dates

Lavery was pleased to serve as legal counsel in a strategic initiative to revise the schedule of the Canadian Grand Prix. Under the new schedule, Canada’s most anticipated tourist event will be moved to the last two weekends of May starting in 2026, in order to meet various eco-responsibility objectives. Welcomed by key players in the tourism and events industry, the revised schedule will minimize the number of transatlantic flights required for F1 teams, thereby reducing the event’s carbon footprint. The initiative is part of a broader commitment to environmental and social responsibility, in line with Quebec’s efforts to promote sustainable tourism practices. In addition to bringing a boost to the local economy, the change in the Grand Prix’s dates will kick off the summer season earlier, enhancing Montréal’s and Quebec’s tourist appeal. Our team was actively involved throughout the review process, providing strategic advice and ensuring compliance with current regulations. The Lavery team was led by Sébastien Vézina, a partner in the firm’s Business Law group and the Head of the Sports and Entertainment Law team, with the support of Jean-Paul Timothée and Radia Amina Djouaher. Find out more here: 2026 Grand Prix: The funders are satisfied with the revised schedule Canadian Grand Prix to support F1 calendar rationalisation with scheduling change from 2026 | Formula 1® About Lavery Lavery is the leading independent law firm in Québec. Its more than 200 professionals, based in Montréal, Québec City, Sherbrooke and Trois-Rivières, work every day to offer a full range of legal services to organizations doing business in Québec. Recognized by the most prestigious legal directories, Lavery professionals are at the heart of what is happening in the business world and are actively involved in their communities. The firm’s expertise is frequently sought after by numerous national and international partners to provide support in cases under Québec jurisdiction.

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November 28, 2024

Lavery advises the Société du parc Jean-Drapeau adjust Canadian Grand Prix (F1) dates

Lavery was pleased to serve as legal counsel in a strategic initiative to revise the schedule of the Canadian Grand Prix. Under the new schedule, Canada’s most anticipated tourist event will be moved to the last two weekends of May starting in 2026, in order to meet various eco-responsibility objectives. Welcomed by key players in the tourism and events industry, the revised schedule will minimize the number of transatlantic flights required for F1 teams, thereby reducing the event’s carbon footprint. The initiative is part of a broader commitment to environmental and social responsibility, in line with Quebec’s efforts to promote sustainable tourism practices. In addition to bringing a boost to the local economy, the change in the Grand Prix’s dates will kick off the summer season earlier, enhancing Montréal’s and Quebec’s tourist appeal. Our team was actively involved throughout the review process, providing strategic advice and ensuring compliance with current regulations. The Lavery team was led by Sébastien Vézina, a partner in the firm’s Business Law group and the Head of the Sports and Entertainment Law team, with the support of Jean-Paul Timothée and Radia Amina Djouaher. Find out more here: 2026 Grand Prix: The funders are satisfied with the revised schedule Canadian Grand Prix to support F1 calendar rationalisation with scheduling change from 2026 | Formula 1® About Lavery Lavery is the leading independent law firm in Québec. Its more than 200 professionals, based in Montréal, Québec City, Sherbrooke and Trois-Rivières, work every day to offer a full range of legal services to organizations doing business in Québec. Recognized by the most prestigious legal directories, Lavery professionals are at the heart of what is happening in the business world and are actively involved in their communities. The firm’s expertise is frequently sought after by numerous national and international partners to provide support in cases under Québec jurisdiction.

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November 20, 2024

Laurence Bich-Carrière, a rising star in the Canadian legal profession

Lavery is proud to announce that on November 19, Laurence Bich-Carrière received the Rising Stars Leading Lawyers Under 40 award from Lexpert. This prestigious award honours lawyers under the age of 40 in Canada who distinguish themselves in the legal profession. The winners are selected by a jury of law firm managing partners and recognized corporate counsels, based on rigorously studied criteria like leadership, outstanding professional achievement and service to clients. As a litigation partner and a member of the Barreau du Québec and of the Law Society of Ontario, Laurence is an accomplished lawyer. Specializing in complex litigation, her expertise is especially valued in class actions and appeals. Her clients appreciate her efficiency, her stringent analyses and her ability to propose a range of solutions, often by thinking outside the box, to further her cases. Laurence is committed to her clients and her colleagues, and she is also a very active member of the legal community, proving her professional versatility. She is also involved with other legal institutions—she is a member of the civil procedure committee of the Barreau du Québec, a member of the executive committees of the Canadian Bar Association, Quebec Branch, including the Research and Knowledge Management section and the International section—and community organizations, such as the board of directors of the Fondation Claude Masse for the dissemination of consumer law knowledge. In addition to her solid practical experience, Laurence is also interested in research and training the next generation of lawyers. She is a sought-after speaker, the author of some forty publications, including several in scientific journals, she occasionally lectures and participates in the deliberation of various university research groups. Congratulations to Laurence on this well-earned recognition of her talent and expertise. For more information, read the article : 2024 Winners | Lexpert Rising Stars About Lavery Lavery is the leading independent law firm in Québec. Its more than 200 professionals, based in Montréal, Québec City, Sherbrooke and Trois-Rivières, work every day to offer a full range of legal services to organizations doing business in Québec. Recognized by the most prestigious legal directories, Lavery professionals are at the heart of what is happening in the business world and are actively involved in their communities. The firm’s expertise is frequently sought after by numerous national and international partners to provide support in cases under Québec jurisdiction.

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November 4, 2024

La Presse’s Big Gamble Pays Off

Pierre-Elliott Levasseur will always remember a conversation he had in 2010 with Guy Crevier, Editor of La Presse, who was also its president at the time. “The first iPad had just come out. We were both looking at the tablet and, although we didn’t know exactly what to think, we knew we had to do something with this new tool,” says Pierre-Elliott Levasseur, who has been President of La Presse since 2016. The rest, as they say, is history. La Presse’s titanic digital transformation and overhaul of its business model became a case study that has been making headlines for almost 15 years. The last major milestone in this evolution was its change of business model in 2018, when La Presse decided to adopt a not-for-profit structure. This allowed it to diversify its revenue streams by obtaining donations and assistance from the federal and provincial governments, in addition to advertising revenue. Power Corporation would no longer own La Presse, abandoning the business model adopted by the media industry for the past century. This new model also enabled La Presse to become one of the first news media in the country to obtain Registered Journalism Organization (RJO) status. Thanks to this, La Presse can now issue tax receipts to its donors, thus diversifying its income and ensuring its long-term survival. All this was a big gamble in uncharted territory, but La Presse was no stranger to risk taking over the years. Why the change in structure? In a difficult economic climate for media companies, marked by declining ad revenues and fierce digital competition, La Presse has chosen to remain faithful to the principle of free access, which is deeply rooted in its mission. Quality information is a public good, and a public good must serve the entire population, for free. We had to find another business model to increase and diversify our revenue streams. If La Presse hadn’t transformed itself, it wouldn’t have survived. We had no choice but to take the risk. Pierre-Elliott LevasseurPrésident, La Presse Six years later, the gamble has paid off handsomely. Since the launch of the philanthropic model, over 75,000 people have donated to La Presse. La Presse is the largest independent French-language media in North America, with over 500 employees, including 220 in the newsroom. Every month, La Presse reaches 4 million readers, or 60% of Quebec’s adult population. “The quality of the product remained at the heart of all our decisions: we never compromised on that,” says Pierre-Elliott. Human challenges Getting there wasn’t easy. “The expression we used in 2018 when Power Corporation was no longer our owner was ‘we’re leaving the nest.’ We had to find a solution together, because otherwise we’d have gone bankrupt together.” The culture of change that La Presse had developed in previous years as part of its digital transformation was the first step towards success. “It wasn’t our first transformation. But it certainly required a lot of communication to reassure people and convince them that we were heading in the right direction.” Its excellent relationship with the unions was another success factor. “The unions supported us and always acted with us.” In addition to a $50 million contribution to fund the transition, Power Corporation retained responsibility for past retirement plan obligations, which cushioned the risk and reassured employees. Legal challenges On top of the human challenges, there were legal obstacles. In order to convert to a not-for-profit structure, La Presse had to obtain a legislative change from the elected members of the National Assembly. When Power Corporation acquired the newspaper in 1967, the Quebec government passed a law preventing the transfer of ownership to foreign interests. A unanimous vote was required to amend the law. “It was definitely a period of uncertainty. It was difficult to move forward operationally,” recalls Pierre-Elliott. In July 2018, the legislative change was approved, and La Presse became an independent, not-for-profit structure. A few months later, the philanthropic program was launched, and La Presse received its first donations from readers. At the end of 2020, the tax transformation was completed, with the Canada Revenue Agency granting La Presse its Registered Journalism Organization (RJO) status, enabling it to become a qualified donee and issue tax receipts for donations received. Committed donors In 2023, 56,000 donors contributed a total of $7.8 million to La Presse, an increase of 13% over 2022. “We started from zero and have now reached nearly $8 million in donations. This would not have been possible without our loyal donors,” says Pierre-Elliott. La Presse ended the 2023 fiscal year with a positive balance sheet and a $40 million reserve fund. “This fund is designed to ensure La Presse’s long-term future, allowing us to weather economic downturns or technological changes. The fund also allows us to reinvest in our mission and in journalism in Quebec.” Never stop innovating At the same time, La Presse has seen an increase in advertising revenue in a shrinking market. These results can be attributed, in part, to yearly innovations in its advertising product offerings. “Our advertising products are based on data and careful audience segmentation, in full compliance with the industry’s highest privacy standards. We listen to our customers and advertisers to understand their needs before making business decisions,” says Pierre-Elliott. In writing its content, La Presse works with tools used by the world’s leading media, including the BBC and The Guardian, to determine angles for its coverage based on readers’ main information needs: to be informed, but also to have context, to be guided in their lives, and to be inspired and entertained. La Presse’s journalistic mission is supported by a solid business team. For example, La Presse employs specialized technology and business intelligence teams. These two teams have nearly 100 employees working on innovative tools that help La Presse compete ethically and locally with some of the solutions offered by American digital giants. La Presse’s digital transformation and change in business model have been essential to its success. “Our commitment to digital transformation was total. We didn’t compromise.” Today, La Presse has a competitive and strategic advantage that’s hard to rival. This year marks La Presse’s 140th anniversary, while La Presse+ celebrates its 11th. Through many storms, independently and without commercial shareholders, La Presse continues to reinvent itself. Not only has its gamble paid off, but La Presse has also remained true to its mission of delivering quality journalism that’s free and accessible to everyone. And that’s something that will never change,” says Pierre-Elliott.

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