Richard is a Partner at WeirFoulds LLP practising in banking and financial services with an emphasis on secured transactions, credit agreements and loan restructurings.
Richard has been extensively involved in several domestic and international, secured and unsecured financings and loan syndication transactions. His key experience is in the drafting and negotiation of financing opinions and complex inter-creditor agreements, subordination agreements and forbearance arrangements.
As a lateral thinker with a strong business sense, Richard works closely with his clients to ensure their best interests are met at every stage of a transaction. He acts for both lenders and borrowers, and represents financial institutions and non-institutional lenders.
During his years of practice, Richard has also been extensively involved in designing and delivering training programs for associates and law clerks. He was also the executive editor for over eight years of a quarterly newsletter for secured lenders of an international law firm.
As the previous executive editor of a quarterly newletter for an international law firm, Richard has written over 40 newsletter articles, including the following
- GSAs and Share Pledge Agreements
- Dueling PMSIs in Acquisition Financing in Ontario
- Ontario Court of Appeal Confirms Practice of Concurrent Demands upon Borrowers and Guarantors
- Related Parties to a borrower Cannot be Compelled to Deliver Subordination Agreements
- Forthwith vs. Promptly – It’s Only a Matter of Time
- “Such Consent Not to be Unreasonably Withheld…”
- Perfecting Against Fishery Quota Revisited in Nova Scotia
- Ontario Court of Appeal Offers guidance on Interpreting Title Insurance Policies
- When Does a Lender Need to Obtain a PPSA estoppel letter in Ontario?
- Beware of the Constructive Trust
- Joint and Several Guarantees
- Failing to respond to PPSA Information Requests Proves Costly for Secured Lender
Counsel to a syndicate of banks on a $150 million asset based loan arrangement for a North American steel distributor
Acted for a crown corporation in multiple financings involving greenhouse construction projects, co-generation plants, farm quotas and licensing boards
Represented a syndicate of Canadian lenders in establishing $120 million multiple credit facilities for an Ontario tea and coffee products manufacturer
Member of a team of professionals acting for a US lender in the $191 million re-financing of five solar farm projects
Counsel to a Canadian lender in an asset based financing of a Western Canadian equipment rental business
Represented a Caribbean bank in restructuring its loans to tourism-based businesses in the Bahamas and Belize
Counsel to the Canadian subsidiary of a US wallcovering distributor in a multi-million dollar international financing
Acted for a syndicate of Canadian lenders in establishing a $42 million operating and term credit facility for an Ontario waste products recovery company
Counsel to a syndicate of lenders in connection with the re-negotiation of existing debt and the issuance of new long term acquisition financing for a consumer products manufacturer
Counsel to the Canadian subsidiary of a US manufacturer of natural animal nutrition and health products in a multi-million dollar international financing
Called to the Bar
- Ontario, 1986
- LL.B., University of Toronto, 1984
- Law Society of Ontario
- Ontario Bar Association
- Canadian Bar Association