On June 29, 2001, Ontario Electricity Financial Corporation (formerly Ontario Hydro) completed a transfer of the $12.5 billion Ontario Hydro pension fund. The pension fund was divided and transferred to the four successor operating entities to Ontario Hydro on the basis of their proportionate shares of assets and liabilities. The assets included approximately $2 billion of private equity, real estate and mortgage holdings.
Fasken Martineau DuMoulin LLP advised OEFC and its operating subsidiary, Ontario Electricity Pension Services Corporation, regarding the administration and investment of the pension plan and for the two years during which the asset transfer agreements were negotiated and completed. Peggy McCallum of Fasken Martineau DuMoulin LLP’s Toronto office worked with David Vincent and Louise Greig (pensions), Elizabeth Johnson and Patrick McCay (tax), Eric Belli-Bivar and Jean-Pierre Laporte (corporate), Steven Follett (real estate), Ralph Nero (employment), Mark Fecenko (technology) and Ron Walker and Kelley McKinnon (litigation).
John Solursh, Jeremy Forgie, Barbara Austin and Jeff Sommers of Blake, Cassels & Graydon LLP represented Ontario Power Generation Inc. Hydro One Inc. was represented by in-house counsel Rod Crown and Cassidy McFarlane. Paul Baston and Audrey Mak of Fraser Milner Casgrain LLP represented the Independent Electricity Market Operator and Brent Duguid and John Varley of Miller Thomson LLP assisted in-house counsel Judith McTavish of the Electrical Safety Authority.