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


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






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

  • Tim Hortons in connection with its $13 billion acquisition by an affiliate of Burger King Worldwide, Inc
  • Kinross Gold Corporation in connection with the sale of its Fruta del Norte project in Ecuador to Fortress Minerals
  • Bank of Montreal in connection with its acquisition of F&C Asset Management plc.
  • 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.
  • 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.


  • 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 & 2015: Tax
  • The Canadian Legal Lexpert Directory 2014: Corporate Tax
  • The Best Lawyers in Canada 2015: Tax Law
  • Lexpert’s Top 40 Under 40 (2008)
  • Canadian Who’s Who


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

  • Cross Border Cash Pooling Arrangements Involving Canadian Subsidiaries:  A Technical Minefield, Tax Management International Journal, June 13, 2014
  • Impact of BEPS Report and Other Changes on Existing Structures and Proposed Commercial Transactions, IBA/CIOT Conference, February 2014
  • Treaty Shopping Review, Canadian Tax Foundation Conference, November 2013
  • 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
  • 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)