Recent Transactions

Andrew Hatnay and Demetrios Yiokaris of Koskie Minsky LLP successfully negotiated a settlement involving the payment of termination pay and severance pay owing to the members of two members of the United Autoworkers, Local 251 from the Windsor Machine Group from its insolvency proceedings under the CCAA.  No payments will be made to the unsecured creditors, who it is reported are owed over $6.5 million. 

The settlement was recently approved by Mr. Justice Morawetz of the Ontario Superior Court of Justice (Commercial List) and resolves the union's pending appeal of the His Honour's earlier decision denying payment of termination pay and severance pay to the UAW members.

As part of the settlement, Windsor Machine Group also agreed to pay $100,000 relating to unpaid termination pay and severance pay owing to another group of UAW, Local 251 members. The company also agreed to a Voluntary Recognition Agreement of the Collective Agreement regarding one of its continuing facilities.

Koskie Minsky LLP acted for the Canadian Auto Workers in the $2.3 billion settlement with General Motors of Canada Limited. The settlement provides for retirees formerly represented by the CAW to participate in the Auto Sector Retiree Health Care Trust, a health benefits trust established following a similar settlement with Chrysler Canada Inc. Over 30,000 GMCL retirees and their spouses and dependents will participate in the asrTrust.

The asrTrust is the first “employee life and health trust” in Canada. The negotiation and settlement involved amendments to the Income Tax Act that provide for more efficient pre-funding of retiree health care benefits.

Murray Gold led Koskie Minsky’s team advising the CAW on the settlement, assisted by Roberto Tomassini and Simon Archer, and Jonathan Ptak on litigation matters. Norman Tobias provided tax counsel.

Koskie Minsky LLP acted for four (4) major pension funds of Central and Eastern Canada in connection with their participation in a consortium of investors, Hospital Infrastructure Partners, which will design, build, finance and maintain the new replacement Oakville Hospital announced July 29, 2011 by Infrastructure Ontario and Halton Healthcare Services. The contract is valued at approximately $2 billion and will develop a new state of the art hospital will include 1.5 million square feet of new construction with an increased capacity of 457 inpatient beds and numerous health care services including complex continuing care, rehabilitation, renal dialysis, acute inpatient care, maternal child care, and inpatient and outpatient mental health care.

George Dzuro and Michael Mazzuca led the Koskie Minsky team, assisted by Simon Archer.

Koskie Minsky LLP acted for the Amalgamated Transit Union, Local 113 in the negotiation of a joint sponsorship and joint governance agreement that established the TTC Pension Fund Society as a jointly-sponsored pension plan which enabled the Society to obtain an exemption from solvency funding under pension regulation.

Mark Zigler led Koskie Minsky’s team advising the ATU in the negotiation, assisted by Simon Archer.

Koskie Minsky LLP acted for Dealfind.com and its founders in a CDN $31 million investment by three institutional investors, one of which is U.S. based.  Dealfind.com is a leading player in the online daily deal space.

George Dzuro led Koskie Minsky’s team advising Dealfind on the deal, with assistance by Simon Archer.  Norman Tobias assisted on tax matters.