Income Funds

Practice Area Definition

Income fund work is generally understood to comprise a broad range of legal services: advising and representing issuers, sponsors, dealers, underwriters, funds, borrowers, lenders, trustees, and managers in connection with the development, formation and operation of business, real estate (REITs), royalty, energy, resource and structured product income trusts and funds. The transactional expertise involved includes domestic, cross-border and international initial public offerings, mergers and acquisitions, public and private corporate financings, restructurings, and conversions. Services include advising on deal structuring, providing specialized trust advice, assisting in tax planning, securities matters, and mergers and acquisitions, as well as giving corporate governance and compliance advice. With the radical alteration of the income trust landscape in Canada when the federal government introduced an income fund distribution tax in October 2006, services now include strategic and legal advice to clients regarding the most appropriate cost and value-effective responses to the surprise announcement.