On June 19, 2001, Odyssey Re Holdings Corp., a Delaware subsidiary of Fairfax Financial Holdings Limited, with global reinsurance operations, completed its US$308.6 million initial public offering of common shares in the United States and Canada. The syndicate of 15 US and Canadian underwriters was co-led by Banc of America Securities LLC and CIBC World Markets.
Shearman & Sterling in Toronto acted as Odyssey’s US counsel, with a team that included Brice Voran, Christopher Cummings, Paul Rivett, Stephen Centa and Laurence Crouch (tax). Torys in Toronto acted as Odyssey’s Canadian counsel, with a team that included David Chaikof, Randy MacEwen, Tom Yeo and Jim Welkoff (tax). The underwriters received US legal advice from Simpson, Thacher & Bartlett in New York, with a team that included Peter Gordon, Hyun Chung and Michele Dickey, and Canadian legal advice from Ogilvy Renault in Toronto, with a team that included Terence Dobbin and Dawn Whittaker.