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CCCA_V4No1_Col-DealDevelop-FIN.qxd:CCCA_V1No2_Col-News-V1.qxd 2/3/10 1:55 PM Page 41 GENIVAR Income Fund (con’d) AND On the Deal (con’d): Securities Inc., Macquarie Capital Markets Canada Ltd., Blackmont Capital Inc., Cormark Securities Inc. and Dundee Securities Corporation; Gilles Leclerc, Gabriel Castiglio, Jean Michel Lapierre and Rebecca McLeod (corporate/securities), and Gilles Carli (tax), Fasken Martineau DuMoulin LLP. (corporate/securities), and Gilles Carli (tax), Fasken Martineau DuMoulin LLP. Renewable Energy Generation Details: Renewable Energy Generation Limited completed its sale of AIM PowerGen Corporation (AIM) to International Power for a purchase price of $173 million (U.S.). Date: Closed October 21, 2009. On the Deal: For Renewable Energy Generation: Valerie Helbronner, Krista Hill, Allen Yi and Charmaine Craig (M&A), Corrado Cardarelli, Richard Johnson and Gregg Larson (tax), Dennis Mahony and Tyson Dyck (environmental), Jonathan Myers (regula- tory), Amanda Balasubramanian, Jonathan Wiener and Vanessa Kee (financing), and David Steele (trusts), Torys LLP. For International Power: in-house by David Musselman and Aaron Bullwinkel; Peter Ascherl, Kevin Clinton and David Smith (cor- porate), Paul King and Dugan Edmison (real estate), Rosalind Cooper and Charles Kazaz (environmental), Jon Holmstrom (bank- ing), Mitchell Thaw (tax), Huy Do (competition), and Alix Herber (labour and employment), Fasken Martineau DuMoulin LLP. Mega Uranium Ltd. Details: Mega Uranium Ltd. completed its first public offering in connection with the filing of a short form prospectus in each province and territory of Canada, other than Québec. The prospectus qualified the distribution of 58,824,000 Units, each such Unit comprised of one common share and one half of one common share purchase warrant at a price per Unit of $0.85 for total gross proceeds to Mega Uranium of $50,000,400.The Units were also offered on a private placement basis in the United States. Date: Closed October 26, 2009. On the Deal: For Mega Uranium: in-house by Wendy Warhaft; Dawn Whittaker and Joseph Hillier (securities), and Adrienne Oliver (tax), Ogilvy Renault LLP. For the underwriters: RBC Capital Markets and UBS Securities Canada Inc.; Jay Kellerman, Kevin Smyth and Andrew Grant (Canadian securities), Jonathan Willson (tax) and Ian Putnam (U.S. securities), Stikeman Elliott LLP. Air Canada Details: Air Canada completed a public offering of 160,500,000 Units for aggregate gross proceeds to Air Canada of $260,010,000 on a bought deal basis pursuant to a short form prospectus filed in each of the provinces and territories of Canada, and on a private placement basis in the United States. Each Unit is comprised of one Class B Voting Share or one Class A Variable Voting Share and one-half of one share purchase warrant. Date: Closed October 27, 2009. On the Deal: For Air Canada: in-house by David Shapiro, Vice-President and General Counsel, Arielle Meloul-Wechsler, Assistant General Counsel and Director of Legal Services, and David Perez, Assistant General Counsel, Corporate and Commercial; Robert Carelli, David Massé, Olivier Proulx and Myra Khanna (corporate/securities), William Braithwaite (corporate/securities), Gary Nachshen (pensions), Ron Ferguson (corporate/regulatory), and Marie-Andrée Beaudry and Frank Mathieu (tax), Stikeman Elliott LLP. For the underwriters: Genuity Capital Markets, TD Securities Inc., National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd. and Salman Partners Inc.; Richard Cherney, Neil Kravitz, Olivier Désilets and Brian Kujavsky (corporate/securities), Fred Purkey (tax), and Scott Tayne and Darren Novak (U.S. securities), Davies Ward Phillips & Vineberg LLP. Quebec (Revenue) v. Caisse populaire Desjardins de Montmagny Details: The Supreme Court of Canada rejected the Crown's attempt to secure its position on collections of the tax portion of accounts receivable outstanding at the time of bankruptcy. Mr. Justice Louis LeBel found that when a supplier becomes bankrupt, the Crown does not have a property right on the GST and QST amounts collectable at the time of the bankruptcy. Rather, the Crown has an unsecured claim against the estate of the supplier and, as such, the Crown's claim is ranked along with all the other unse- cured creditors in the bankruptcy. The Supreme Court upheld the Quebec Court of Appeal, which had overturned three Superior Court decisions that endorsed the Crown’s contention that it is the sole owner of the GST and the QST portion of accounts receiv- able outstanding at the time of bankruptcy. Date: Decided October 30, 2009. On the Case: For Canadian Association of Insolvency and Restructuring Professionals: Éric Vallières and Sidney Elbaz, McMillan LLP. For Caisse populaire Desjardins de Montmagny and Raymond Chabot Inc., as Trustee in bankruptcy of 9083 4185 Québec Inc: Reynald Auger and Jean Patrick Dallaire, Langlois Kronström Desjardins, LLP. For Raymond Chabot Inc., as Trustee for the estate of the debtor Consortium Promecan Inc: Mason Poplaw and Miguel Bourbonnais, McCarthy Tétrault LLP. For National Bank of Canada: Marc Germain, Stein Monast L.L.P. For the Deputy Minister of Revenue of Quebec: Christian Boutin, Michel Beauchamp and Jean Yves Bernard. For Her Majesty The Queen: Pierre Cossette and Guy Laperrière. PRINTEMPS 2010 CCCA Canadian Corporate Counsel Association 41