Key Equipment Finance Canada Ltd. acquired TD Bank Financial Group’s equipment finance and lease portfolio on January 1, 2003. The value of the portfolio is in excess of $640 million, although terms of the deal have not been disclosed. The two companies have also formed a multi-year alliance pursuant to which TD will refer its corporate and commercial customer to Key Equipment Finance Canada for equipment financing. Key Equipment Finance Canada is an affiliate of Ohio-based Key Corp.
Key Equipment Finance Canada and KeyBank were represented in Canada, by Stikeman Elliott LLP with a team led by Jennifer Legge and supported by Kelly Niebergall and Lisa McDowell (corporate), Eric Dufour (competition) and David Glicksman and Alan Kenigsberg (tax); and in the U.S., by in-house counsel Jeanne Early and Sandra Wald, Key Equipment Finance, and Daniel Stolzer, KeyBank.
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Torys LLP acted for TD Bank and TD Asset Finance, together with in-house counsel Adriana Groskopf. The Torys team included Donna Parish, Michael Feldman, Tamara Kronis, Chris Fowles and John Guccione (corporate), John Tobin (tax) and Carolyn Naiman (competition).