aperçu
Darcy is a lawyer in the firm’s Ottawa office advising on all aspects of corporate and commercial transactions, general contract law, financial institution regulation, regulation of service contracts/warranties and insurance matters. In the insurance area, Darcy advises on policy drafting and review, regulatory approvals, reorganizations, direct marketing and coverage issues (including with respect to cybersecurity coverage). Darcy's transactional experience includes syndicated lending, asset-based lending, real estate, DIP financing, mezzanine financing, project finance, private placement and corporate restructuring. Darcy is named as a 2019 rising star in the IFLR1000 Financial and Corporate Guide.
Representative Matters
Insurance
- Routinely assists domestic and foreign insurance and reinsurance companies in connection with incorporation and licensing of Canadian subsidiaries/branches.
- Advises corporate clients on the scope and language of the insurance policy coverage to be required from their vendors, including recently advising the provider of Canada’s essential payments systems on the scope and language of the cybersecurity insurance policy coverage to be required.
- Recently conducted a fulsome review of the applications and endorsements of an international insurance company and adapted them for use within Canada (excluding Quebec).
- Ongoing advice to a major global insurance company related to their operations in Canada, most recently with respect to the language and roll out of a new flood endorsement.
- Counsel to an international insurance agency with respect to the organization and licensing of a Canadian federal life insurance agency seeking to commence business in the provinces of Ontario, Alberta, British Columbia and Quebec.
- Darcy conducts a quarterly cross-Canada review of the legislation and regulatory guidance applicable to insurance companies in order to provide ongoing compliance advice through the firm's collaboration with Ethidex Inc.'s offering of Risk Manager®, a web based risk management and legislative compliance tool for insurance companies across Canada.
- Engaged by a key stakeholder to provide advice with respect to the ongoing review of the federal financial sector legislative and regulatory framework in Canada, with a particular focus on the ability to interact with fintech companies.
- Counsel to The Co-operators Group Limited in the merger of its travel insurance company TIC Travel Insurance Coordinators with Allianz Global Assistance Canada, creating one of the largest travel insurance providers in the country operating as Allianz Global Assistance, as described in the April 2015 edition of Lexpert.
Extended Warranties and Service Contracts
- Advised an automotive manufacturer with respect to an extended warranty program, including potential risks and the applicability of licensing requirements.
- Recently provided an analysis of the regulatory landscape across Canada, including the factors that regulators may consider when assessing licensing requirements for the provision of automobile protection products through franchise auto dealerships.
Lender Counsel
- Counsel to Antares Capital LP, in its capacity as administrative agent for a syndicate of financial institutions, in connection with a US$135 million debtor-in-possession financing to Golfsmith International Holdings LP. Golfsmith, a specialty retailer of golf equipment, consumables, athletic apparel and accessories in North America, and its US subsidiaries filed for Chapter 11 proceedings in the United States. Concurrent Canadian proceedings under the CCAA were filed by Golf Town Canada Holdings Inc. (the Canadian branch of Golfsmith) and its Canadian subsidiaries.
- Counsel to FMMC Private Yield Fund (FMMC), a private investment fund managed by Fraser Mackenzie Merchant Capital in connection with a 2016 multimillion-dollar funding agreement with iCONECT to support the ongoing development of iCONECT's flagship XERA document review platform and its continued expansion in the legal eDiscovery field, as well as its entrance into healthcare and finance industries. Fraser Mackenzie Merchant Capital is a private equity firm based in Canada that helps medium sized businesses grow, while FMMC provides capital to profitable, privately-owned and small-cap public businesses in Canada and the United States.
- Counsel to The Bank of Nova Scotia in connection with an extension of a senior secured revolving credit facility to North American Palladium Ltd., an established precious metals producer, as described in the October 2013 edition of Lexpert
- Assisted a major Schedule I Bank to obtain a security interest over a mine in Mexico, along with other collateral located in Peru and Barbados
- Lender counsel for the $175 million debtor-in-possession (DIP) financing provided to Catalyst Paper to help fund its operations during the period of credit protection under the CCAA
- Assisted a major Schedule III Bank to secure an amended and restated credit facility to a leading energy management company, allowing the company to acquire a new subsidiary
Borrower Counsel
- Acted for Canadian Payments Association (d.b.a. Payments Canada), the organization responsible for Canada’s essential payments systems, in connection with a syndicated credit facility in the principal amount of $250 million as part of the modernization of Canada’s payments ecosystem completed in April, 2017.
- Counsel to Intrinsic4D Inc. in connection with the 2016 closing of its brokered private placement of debenture units, led by Gravitas Securities Inc., Gravitas Capital International Inc. and Echelon Wealth Partners Inc., for gross proceeds of $3.13 million.
- Canadian counsel to Vitran Corporation Inc., a publicly traded North American transportation company in the sale of its Supply Chain Operation (SCO) business to LEGACY Supply Chain for US $97 million in cash in which LEGACY Supply Chain acquired various Vitran Canadian and U.S. subsidiaries carrying on the SCO business, as described in the June 2013 edition of Lexpert
- DIP financing: counsel to Crystallex International Corporation, a mining company, whose main asset was a $3.2 billion arbitration claim against Venezuela
Project Finance
- Counsel to the bond underwriters and lenders in connection with a $1.093 billion 20 year project for the design, construction, financing, operation and maintenance of the John Hart Generating Station Replacement Project involving a new generating station, water bypass facility and associated water intake and 2.1 kilometer long tunnel located on Vancouver Island, British Columbia, as described in the July/August 2014 edition of Lexpert
- Significant role in the financial close of the Northeast Anthony Henday Drive Project in Alberta, a $1.81 billion project for the design, build, operate and finance of the North East portion of the Edmonton ring road over the course of a 34-year contract. The project includes 27 kilometres of six and eight-lane divided roadway, nine interchanges, two road flyovers, eight rail crossings and two bridges across the North Saskatchewan River
- Acting for both lenders and consortia on several bids in various jurisdictions, including the Interior Heart and Surgical Centre, Pan Am Games Stadia and Velodrome Project, Alberta Schools III and the Billy Bishop Airport Tunnel project
- Darcy has also gained experience in the secondary market for PPPs
Presentations
Publications
Nouveau projet de ligne directrice E-4 du BSIF concernant les succursales d'entités étrangères : une analyse comparative en regard des lignes directrices existantes
Et nous sommes de retour! Le BSIF reprend ses activités au titre de l'IFRS 17
Et nous sommes de retour! Le BSIF reprend ses activités au titre de l'IFRS 17
La Cour suprême du Canada confirme la Loi sur la non-discrimination génétique, en soupesant l'autonomie, la vie privée et l'accessibilité des assurances
La Cour suprême du Canada confirme la Loi sur la non-discrimination génétique, en soupesant l'autonomie, la vie privée et l'accessibilité des assurances
Le BSIF reprendra le travail d'élaboration des politiques à l'automne 2020
Le BSIF reprendra le travail d'élaboration des politiques à l'automne 2020
Significant Expansion of Ontario's Personal Health Information Protections amid COVID-19: What you need to know
Le BSIF apporte des rajustements réglementaires supplémentaires pour favoriser la résilience et la stabilité financières pendant la COVID-19
Le BSIF apporte des rajustements réglementaires supplémentaires pour favoriser la résilience et la stabilité financières pendant la COVID-19
Le BSIF apporte des rajustements réglementaires en réponse aux conséquences de la COVID-19
Consumer-Directed Finance: Canada's Answer to Open Banking
À l'approche de la ratification du « nouvel ALENA », les « entités étrangères réglementées » doivent s'attendre à des exigences plus strictes en matière de tenue de dossiers
Saskatchewan's New Year's Resolution? A New Insurance Act to Ring in the New Year
Une révision de la « simulation de crise » prévue par la ligne directrice B-20
Appel à l'action pour un système bancaire ouvert
Why Rewards Programs may not be so Rewarding for Credit Card Issuers
So You Want to Insure Risks in Canada, Eh? A Guide To Becoming A Licensed Insurer
Institutions financières : Les obligations accrues du BSIF en matière de signalement des incidents liés à la cybersécurité sont maintenant en vigueur
Banking Regulation 2019
Êtes-vous ouverts? Un survol du système bancaire ouvert au Canada
Le BSIF intensifie ses efforts en matière de cybersécurité en publiant un nouveau préavis sur le signalement des incidents liés à la technologie et à la cybersécurité
OSFI adds the Earthquake Exposure Data Return to its Late and Erroneous Filing Penalty Framework
Adoption of financial sector reform goes ahead in Québec, but government backtracks on certain proposed changes in the insurance sector
OSFI Updates its Transaction Instructions for FRFIs' Purchase or Redemption of Shares and Reduction of Stated Capital
Getting the Deal Through - Banking Regulation 2018
Insurance Regulators Team Up to Strengthen Consumer Protection
Darcy Ammerman wrote about five interest rate provisions to be aware of prior to financing
Five Interest Rate Provisions to be Aware of Prior to Financing
Banking Regulation 2018 - 5th Edition
Ransomware and its Spawns
« Règle des 20 % » : le nouveau projet de loi no 150 du Québec clarifie la distinction entre les « agences » et les « cabinets de courtage » en assurance de dommages
« Règle des 20 % » : le nouveau projet de loi no 150 du Québec clarifie la distinction entre les « agences » et les « cabinets de courtage » en assurance de dommages
Department of Finance publishes Second Consultation Paper with respect to its review of the Federal Financial Sector Framework and OSFI Suspends "Bank Words" Crackdown
Cybercrime – Garanties d'assurance – Jurisprudence –Bienvenue au Canada?
Les logiciels rançonneurs et leurs variantes
Le ministère des Finances publie un deuxième document de consultation concernant son examen du cadre fédéral régissant le secteur financier, et le BSIF suspend ses mesures de restriction d'emploi des « termes bancaires »
Getting the Deal Through - Banking Regulation 2017
Banking Regulation - 4th Edition
Ransomware: The Risks Are All Too Real
Ransomware: The Risks are All Too Real
Contributor to Terralex Beacon Alert: Response to WannaCry Ransomware Attacks
Bulk or no Bulk - the PPSA is always in style
Guideline E-23: The Draft Enterprise-Wide Risk Management Guideline
Transferts internationaux de données en provenance ou en direction du Canada
Transferts internationaux de données en provenance ou en direction du Canada
OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements
OSFI's Final Guideline on ORM is Less Prescriptive and Levels the Playing Field
OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting
Updates to the Bail-In Regime: Depositor Accounts
Updates to the Bail-In Regime: Introduction of Bill C-15
Safeguarding Data Transfers of Federally Regulated Entities: Within Canada and Beyond
Banking Regulation 2016, Canada chapter
Budget 2016: Introduction of a Bail-in Regime
OSFI Releases Draft Guideline on Application of IFRS 9 to Financial Instruments and Disclosure Obligations
Basel Committee's New Standardised Measurement Approach: Best of Both Worlds?
Global Generic Domains for Financial Institutions: Worth the Price of Admission?
The Federal Budget: What Financial Institutions Need to Know
Getting the Deal Through - Banking Regulation 2015, Canada chapter
Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute
Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute
OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks
News
Des avocat.e.s de McMillan obtiennent 37 classements dans 13 catégories dans l'édition 2021 du guide The Legal 500 pour le Canada
Des avocat.e.s de McMillan obtiennent 37 classements dans 13 catégories dans l'édition 2021 du guide The Legal 500 pour le Canada
Les avocat.e.s de McMillan obtiennent 41 classements dans 10 domaines de pratique dans l'édition de 2021 du guide IFLR1000 en droit financier et en droit des affaires
Les avocat.e.s de McMillan obtiennent 41 classements dans 10 domaines de pratique dans l'édition de 2021 du guide IFLR1000 en droit financier et en droit des affaires
McMillan S.E.N.C.R.L., s.r.l. annonce des promotions aux rangs d'associé(e) participant(e) et d'associé(e)
22 avocats de McMillan classés dans le guide IFLR1000 Financial and Corporate Guide de 2020
McMillan reconnu tant sur la liste des 10 opérations les plus importantes que sur celle des 10 décisions les plus importantes de Lexpert
23 avocats de McMillan figurent dans le répertoire IFLR1000 Financial and Corporate Guide de 2019
Darcy Ammerman a rédigé un article sur les cinq dispositions sur les taux d'intérêt auxquelles on doit faire attention avant de conclure un financement.
Darcy Ammerman a rédigé un article sur les cinq dispositions sur les taux d'intérêt auxquelles on doit faire attention avant de conclure un financement.
Les avocats de McMillan classés dans le répertoire IFRL1000 Financial and Corporate Guide de 2018
Les avocats de McMillan figurent dans le guide de 2017 IFLR1000 Financial and Corporate Guide
Les avocats de McMillan bien classés dans le répertoire IFRL1000 Financial and Corporate Guide de 2016
Le groupe Services financiers rédige un chapitre pour l'édition 2015 de Getting the Deal Through – Banking Regulation
La Cour suprême du Canada maintient le secret professionnel de l'avocat et règle ainsi un différend vieux de 15 ans / Supreme Court of Canada Upholds Solicitor-Client Privilege, Settling a 15-Year Dispute
Practices
services financiers
payments and money services
prêts garantis et crédit consortial
assurances
financement de projets
partenariats public-privé (PPP)
financement structuré, titrisation et instruments dérivés
conformité réglementaire
réalisation de sûretés
cybersécurité
Cryptomonnaies et chaîne de blocs
Industries
banques, finances et assurances
diversification des modes de financement et d'approvisionnement
énergie
exploitation minière
infrastructures
Directorships and Professional Associations
- Ontario Bar Association
- Canadian Bar Association
- OBA Young Lawyers' Division Central Executive Member 2012-2013
- Member - Young Women in Law
- Member - Young Leaders in Infrastructure
- Past Board Member - Toronto Rehabilitation Institute
- Research Ethics Board
Community Involvement
- Volunteer with Level (formally Canadian Lawyers Abroad) in support of the Dare to Dream justice education program mentoring Indigenous youth from Nunavut and the Northwest Territories.
- Participant in The Law School Show as an interviewee.
- Mentor - Women's Legal Mentorship Program - uOttawa Chapter
Awards & Rankings
- Recognized by IFLR1000 Financial and Corporate Guide 2020 as a Rising Star in Banking
- Recognized by IFLR1000 Financial and Corporate Guide 2019 as a Rising Star in Banking
- Listed on the UNECE Roster of PPP experts
- IFLR1000 Financial and Corporate Guide 2018 as a rising star in banking and financial services
Media Mentions