Timothy Hughes
Nov 25, 2020
Osler is pleased to announce the firm has been shortlisted for the Financial Times Innovative Lawyers North America Awards 2020 in the area “The Practice of Law – Finance: Unlocking Capital” for our trailblazing Limited Recourse Capital Notes.
The Limited Recourse Capital Notes were pioneered when Osler advised Royal Bank of Canada in its inaugural Additional Tier 1 offering of $1.75 billion. This new form of AT1 capital instrument uses a novel structure that was led by Taxation Partner, Timothy Hughes. The ground-breaking instrument fosters a more liquid global institutional AT1 market for Canadian financial institutions. The notes build on technology developed by Osler in an offering of Emera hybrid notes, which were the first of their kind to be issued by a Canadian corporation and were also shortlisted for the FT Innovative Lawyers North America Awards in 2016. Shortly after its inception the Limited Recourse Capital Notes have quickly become the new market standard.
The FT Innovative Lawyers Awards attract hundreds of submissions and nominations from leading law firms and in-house legal teams across North America. FT research partner, RSG Consulting, analyzes each entry through hundreds of client, expert and lawyer interviews to uncover legal innovation in the region. The awards recognize extraordinary lawyers who are working to change the practice of law and add transformative value to business and society by crossing professional sector boundaries, creating new standards, delivering outstanding outcomes for clients or creating new practice areas with originality and impact.
The awards will take place virtually on December 10th, 2020. For more information visit the FT Innovative Lawyers website.