Paul is Chair of the Pensions & Benefits Department. His practice relates exclusively to pensions, benefits and compensation plans and their related investment arrangements. He advises both private and public sector clients on the legal and regulatory aspects of pension and employee benefits plans including: governance, fiduciary responsibilities, plan administration and compliance, pension fund investment, pension committees, plan wind up, surplus strategies, and the negotiation and drafting of plan and trust documents.
Paul deals extensively with pension and benefits issues arising in corporate mergers, acquisitions and reorganizations, and has advised on many large Canadian and international transactions. Paul regularly advises on pension litigation matters, and has appeared before and made submissions to federal and provincial regulators on various pension compliance and surplus matters. He has also assisted several clients in successfully implementing pension plan mergers and conversions.
- Canadian counsel to JPMorgan Chase & Co. in the sale of its physical commodities business to Mercuria Energy Group Limited, a global energy and commodities trading company, for $3.5 billion.
- Aviva Canada Inc. on its successful surplus sharing agreements with members in four separate partial wind ups.
- Vivendi on its successful $60 million surplus sharing agreement with plan members.
- Several large Canadian employers in successfully transitioning from defined benefit pension plans to defined contribution pension plans.
- A leading actuarial consulting firm in an action for rectification of plan terms.
- A major insurance company in obtaining regulatory approval to pension plan mergers.
A consortium of bidders in negotiating an agreement to acquire shares in MTS Allstream, a subsidiary of Manitoba Telecom Services Inc., which involved devising innovative solutions and strategies to allow the potential buyers to transition from a unionized defined benefit plan to a defined contribution plan.
Chemtrade Logistics Income Fund on pensions and benefits advice in relation to its purchase of General Chemical, a North American manufacturer of a broad portfolio of inorganic chemical products, for US$860 million.
Maple Leaf Foods Inc. on pensions and benefits advice in connection with the proposed disposition of its 90% interest in Canada Bread Company, Limited to Grupo Bimbo S.A.V. de C.V. of Mexico for $1.8 billion.