Patrick  Marley

Patrick Marley, Partner, Taxation

Contact Information

  • tel: 416.862.6583
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Areas of Expertise

Bar Admission

New York, 2004 ; Ontario, 1997

Education

  • New York University, LL.M.
  • University of Western Ontario, LL.B.
  • Queen’s University, B.Comm.

Office

Toronto

Language(s)

English

Biography

Patrick advises on tax issues associated with international tax planning, domestic and cross-border mergers and acquisitions, corporate reorganizations, corporate finance and various other tax matters. He has experience representing clients in various industries including financial services, mining, oil and gas, telecommunications, manufacturing and technology. Patrick appeared before the Canadian Senate Banking Committee in 2008 as a tax expert in respect of proposed foreign investment entity and non-resident trust tax rules. Prior to joining Osler, Patrick worked in the Canadian Department of Finance where he was extensively involved in drafting legislation and formulating tax policy related to foreign affiliates, foreign source income and foreign investments.

Notable Matters

  • Royal Bank of Canada in connection with its acquisition of the Canadian automobile finance and deposit business of Ally Financial Inc.
  • Ontario Teachers’ Pension Plan in connection with their joint acquisition of Q9 Networks with Bell Canada, Providence Equity Partners and Madison Dearborn Partners for approximately C$1.1 billion in cash.
  • TD Securities (USA) LLC v. The Queen, 2010 TCC 186 - Overturned the CRA’s long-standing policy of denying treaty benefits to US limited liability companies.
  • BMO Financial Group in connection with its 2011 acquisition of Marshall & Ilsley Corporation.
  • China Investment Corporation in connection with its subsidiary’s $1.26 billion investment in PennWest Energy.
  • China Investment Corporation in connection with its subsidiary’s US$500 million investment in secured convertible debentures issued by SouthGobi Energy Resources Ltd., a TSX-listed mining company.
  • BMO Financial Group in its acquisition of the Diners Club North American Franchise from Citigroup.
  • Kinross Gold in its acquisition of Red Back Mining Inc. (largest M&A transaction in Canada in 2010).
  • Royal Bank of Canada in its US$2.2 billion acquisition of RBTT Financial Group.
  • Royal Bank of Canada in its $1.35 billion acquisition of Phillips, Hager & North Investment Management Ltd.
  • Toronto-Dominion Bank in its US$8.5 billion acquisition of Commerce Bancorp Inc.
  • China National Petroleum Corporation (CNPC) in its US$4.2 billion acquisition of PetroKazakhstan Inc. (then the largest foreign acquisition by a Chinese company), and the subsequent sale of 33% interest in PetroKazakhstan to JSC KazMuniGas.

Affiliations

  • International Fiscal Association, Canadian Branch Treasurer
  • Canadian Tax Foundation
  • American Bar Association, International Section, Co-Chair of Taxation Committee
  • New York University, International Tax Program Practice Council
  • Ontario Bar Association, New York Bar Association

Industry Recognition

  • Chambers Global: The World's Leading Business Lawyers 2014: Tax
  • The Canadian Legal Lexpert Directory 2013: Corporate Tax
  • The Best Lawyers in Canada 2014: Tax Law
  • Lexpert’s Top 40 Under 40 (2008)
  • Canadian Who’s Who

Publications/Events/Education

Patrick is a contributing editor for CCH’s International Tax, and Tax Management Business Operations in Canada, and is a regular contributor to Tax Management International Journal. Other publications include:

  • International Highlights in Canada’s 2013 Budget, Tax Notes International, Volume 70, Number 1, April 1, 2013
  • A Review of Foreign Affiliate Reorganization Rules After Recent Amendments, Canadian Tax Foundation Conference, November 2012
  • Canada Approves New Foreign Affiliate Dumping Rules, Tax Notes International Vol. 68, Number 6, November 12, 2012
  • Canada’s Foreign Affiliate Rules: A Decade of Proposals Nearing Completion, Osler Update,
    October 31, 2012
  • International Investment Structures for Investment into Latin America, 2012 Fall Meeting Section of International Law, ABA, October 18, 2012
  • Foreign Affiliate Proposals, International Fiscal Association, Canadian Branch Seminar, May, 2012
  • Adverse Canada-U.S. Tax Treaty Hybrid Entity Rules Coming into Effect January 1, 2010, Osler Update, November 25, 2009
  • Limitation on Benefits: Canadian Interpretation, Tax Management International Journal (Vol. 38, No. 10) October 9, 2009
  • The Taxation of Mergers and Acquisitions in Canada, IFA - Bulletin for International Taxation August/September 2009 (IBFD)
  • Technical Explanation Clarifies Protocol to Canada-US Tax Treaty, Journal of International Taxation, October 2008