François Renaud Partner, Lawyer

Bureau

  • Montréal

Phone number

514 878-5586

Fax

514 871-8977

Bar Admission

  • Québec, 1986

Languages

  • English
  • French

Profile

Partner

François Renaud is a partner of the firm’s. He practices mainly in the area of financing and regularly represents and advises lenders and borrowers in the structuring and arranging of credit facilities (syndicated or not) and the negotiation and drafting of the necessary legal documents (including credit agreements, security documents, agreements between lenders, and legal opinions).

Mr. Renaud has acted in several major cross-border financings.

Mr. Renaud also represents and advises clients in connection with the purchase and sale of assets and shares, corporate reorganizations, and the implementation of various business contracts.

Representative mandates

  • Represent Héroux-Devtek Inc. and its Canadian, American, and British subsidiaries in the implementation of a $250 million operating line of credit
  • Represent the entity created for the purpose of acquiring the Montréal Canadiens hockey franchise as well as the franchise itself in the arrangement of credit facilities granted to them
  • Represent a lending syndicate with respect to the arrangement of operating lines of credit of $148 million granted to a major transportation company headquartered in Québec and to its Canadian and U.S. subsidiaries
  • Represent a major Québec manufacturer and its foreign subsidiaries in connection with the arrangement of a $300 million operating line of credit

Distinctions

  • The Best Lawyers in Canada in the field of Banking and Finance Law, since 2018
  • « Distinguished » in Martindale-Hubbell, since 2005
Martindale Hubbell 2020 Best Lawyers 2022

Education

  • LL.B., Université de Montréal, 1985
  • B.A.A. (business administration), HEC Montréal, 1982

Boards and Professional Affiliations

  • HEC Montréal Alumni Association
  1. The borrower-lender relationship: Why and how to nurture it during the crisis?

    Most companies have seen their business operations seriously affected by the COVID-19 pandemic and the various government measures taken to mitigate its impact on the population. Companies have to contend with various issues in the short, medium and long term, such as the closure of many companies’, clients’ and suppliers’ places of business, restricted opening hours, and working from home. Businesses need to maintain the relationship of trust they have built with their lender a business partner with whom it pays to be proactive, show transparency and uphold best practices during these difficult times. Although each situation requires an individual analysis, it is in the borrower’s best interest to draw up an accurate picture of the company’s situation for the lender. The information that should be shared with the lender includes: A description of the plan implemented for clients, suppliers and employees to mitigate the effects of COVID-19 and ensure that operations continue as efficiently as possible; A description of the plan implemented for employees to ensure their health and safety while working; Whether the company’s services and activities are considered essential; The availability and use of government programs developed for businesses and their employees; The possibility of allocating work to other places of business and other efforts to mitigate the impact; Short, medium and long term financial projections, it being understood that even though these projections may be difficult to establish in the circumstances, they will equip the borrower for discussions with its lender and will enable it to anticipate its credit facility drawdown requirements, including any need to increase them; Representations, warranties and covenants in credit agreements that could be compromised. This communication must be ongoing. Considering the fast evolution of the COVID-19 crisis and the proliferation of governmental and other measures, it is important to keep the lender informed as the company’s situation changes. The lender will obviously appreciate getting the most accurate picture of the company under the circumstances, which will allow it to assess the situation and develop customized solutions with the company. The relationship of trust between borrower and lender is, more than ever, an asset in these difficult times. It is proving to be a positive vector of stability for our companies, which will have to overcome the effects of COVID-19. The professionals of our Debt Financing and Banking team can assist borrowers in analyzing the credit agreements they have entered into with their lenders and in developing a communication strategy that is appropriate and effective in the circumstances.

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  2. Securing debts in Quebec: Important changes to consider

    On April 20, 2015, the National Assembly adopted An Act mainly to implement certain provisions of the Budget Speech of 4 June 2014 and return to a balanced budget in 2015-2016 (S.Q. 2015, c. 8). Some of the many amendments introduced by that statute (the “Act”) pertain to the securing of debts in Quebec. We have prepared this newsletter to inform you about important changes to consider in connection with financing transactions. COMMERCIAL FINANCING: HYPOTHECS IN FAVOUR OF A FONDÉ DE POUVOIR (ARTICLE 2692 OF THE CIVIL CODE OF QUÉBEC) Since coming into force in 1994, this article of the Civil Code of Québec (the “Civil Code” or “C.C.Q.”) has frequently been used in connection with syndicated loans, to enable new lenders that join the syndicate (following an assignment made as part of the syndication of a credit facility, for example) or enable creditors of future obligations (under credit arrangements that involve many advances and repayments, for example) to benefit from a hypothec granted to a person representing the creditors: the fondé de pouvoir. It was mandatory that hypothecs granted pursuant to article 2692 C.C.Q. secure the payment of bonds (debentures) or other titles of indebtedness, and be created by notarial deed en minute. In syndicated loans not involving the issuance of bonds or other titles of indebtedness, a common process was to have the borrower, or another grantor, issue a debenture and then pledge it in order to benefit from the provisions of article 2692 C.C.Q. The amendments to article 2692 C.C.Q., in force since April 21, have, among other things: eliminated the need to issue and pledge debentures (without forbidding this practice) by allowing the hypothec to directly secure the performance of obligations created under the terms of credit agreements; specified the process for appointing and replacing the fondé de pouvoir (now called the hypothecary representative); and confirmed that the hypothec must be created by notarial deed en minute, unless it is a movable hypothec with delivery. Borrowers and lenders alike will benefit from these amendments to article 2692 of the Civil Code, which simplify the taking of security, notably in connection with syndicated loans, or financing arrangements made abroad. HYPOTHECS WITH DELIVERY ON CERTAIN MONETARY CLAIMS The Act introduces a new and more efficient way, inspired by US law, to create a security on sums of money, and gives that security a preferred rank. The security is on sums of money credited to a financial account (such as a deposit account held by a financial institution), on amounts given as security to a third person (an individual, or a legal person that can be, but need not be, a financial institution), or on a sum of money which the secured creditor owes the person creating the security. In all cases, the collateral is a claim held by the party creating the security (the “monetary claim”). Like all other hypothecs, the secured obligation can be the obligation of the person creating the security, or the obligation of a third person. The security is a pledge (or “movable hypothec with delivery”) that can be set up against third persons without being published in the Register of Personal and Movable Real Rights, and the “delivery” is effected by the “control” which the creditor must obtain over the monetary claim. If the secured monetary claim is payable by the secured creditor to the person creating the security, control is obtained when that person consents to his claim’s securing the performance of an obligation toward such creditor. If the secured monetary claim is owed by a third person, control is obtained either by entering into a control agreement with that third person, under which such person agrees, among other things, to comply with the secured creditor’s instructions, without the additional consent of the person creating the security (though the third person is not required to enter into such an agreement) or by becoming the holder of the financial account whose credit balance is the monetary claim. It is important to note that neither the consent of the person creating the security (the grantor) nor the consent of the third person need be given in writing. However, it is preferable to obtain such consent in writing, to establish the parties’ intent. The Act also establishes the rank of hypothecs on monetary claims. It states that a movable hypothec with delivery, effected by control of a monetary claim obtained by a creditor, ranks ahead of any other movable hypothec encumbering that claim, from the time that control is obtained, regardless of when that other hypothec is published (and this includes movable hypothecs without delivery, published in the Register of Personal and Movable Real Rights) and it specifies ranking where several movable hypothecs with delivery encumber the same monetary claim (article 2713.8 of the Civil Code). The new article 3106.1 C.C.Q. should be pointed out as well. It specifies the law that will govern the validity of a security encumbering a monetary claim, as well as the publication of the security and the effects of such publication, depending on whether that law has been expressly specified in an act governing the claim. Although the amendments introducing a new system of hypothecs with delivery on certain monetary claims will only come into force on January 1, 2016, section 372 of the Act specifies that certain movable hypothecs with delivery effected by the creditor obtaining control of a monetary claim may not be cancelled or declared unenforceable against third persons on the grounds that control of the claim was obtained before January 1, 2016. It is therefore very much in creditors’ interests to consider acquiring now control over a monetary claim, even if it is only valid as of January 1, 2016. It is more than likely that financial institutions will need to adjust their practices to these new approaches.

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  1. The Best Lawyers in Canada 2023 recognize 67 lawyers of Lavery

    Lavery is pleased to announce that 67 of its lawyers have been recognized as leaders in their respective fields of expertise by The Best Lawyers in Canada 2023. The following lawyers also received the Lawyer of the Year award in the 2023 edition of The Best Lawyers in Canada: René Branchaud : Natural Resources Law Chantal Desjardins : Intellectual Property Law Bernard Larocque : Legal Malpractice Law Patrick A. Molinari : Health Care Law   Consult the complete list of Lavery's lawyers and their fields of expertise: Josianne Beaudry : Mergers and Acquisitions Law / Mining Law Laurence Bich-Carrière : Class Action Litigation / Corporate and Commercial Litigation / Product Liability Law Dominic Boivert : Insurance Law (Ones To Watch) Luc R. Borduas : Corporate Law / Mergers and Acquisitions Law Daniel Bouchard : Environmental Law Laurence Bourgeois-Hatto : Workers' Compensation Law René Branchaud : Mining Law / Natural Resources Law / Securities Law Étienne Brassard : Equipment Finance Law / Mergers and Acquisitions Law / Real Estate Law Jules Brière : Aboriginal Law / Indigenous Practice / Administrative and Public Law / Health Care Law Myriam Brixi : Class Action Litigation Benoit Brouillette : Labour and Employment Law Richard Burgos : Mergers and Acquisitions Law / Corporate Law Marie-Claude Cantin : Insurance Law / Construction Law Brittany Carson : Labour and Employment Law Eugene Czolij : Corporate and Commercial Litigation France Camille De Mers : Mergers and Acquisitions Law (Ones To Watch) Chantal Desjardins : Intellectual Property Law Jean-Sébastien Desroches : Corporate Law / Mergers and Acquisitions Law Raymond Doray : Privacy and Data Security Law / Administrative and Public Law / Defamation and Media Law Christian Dumoulin : Mergers and Acquisitions Law Alain Y. Dussault : Intellectual Property Law Isabelle Duval : Family Law Chloé Fauchon : Municipal Law (Ones To Watch) Philippe Frère : Administrative and Public Law Simon Gagné : Labour and Employment Law Nicolas Gagnon : Construction Law Richard Gaudreault : Labour and Employment Law Danielle Gauthier : Labour and Employment Law Julie Gauvreau : Intellectual Property Law Michel Gélinas : Labour and Employment Law Caroline Harnois : Family Law / Family Law Mediation / Trusts and Estates Marie-Josée Hétu : Labour and Employment Law Alain Heyne : Banking and Finance Law Édith Jacques : Energy Law / Corporate Law Pierre Marc Johnson, Ad. E.  : International Arbitration Marie-Hélène Jolicoeur : Labour and Employment Law Isabelle Jomphe : Intellectual Property Law Guillaume Laberge : Administrative and Public Law Jonathan Lacoste-Jobin : Insurance Law Awatif Lakhdar : Family Law Bernard Larocque : Professional Malpractice Law / Class Action Litigation / Insurance Law / Legal Malpractice Law Myriam Lavallée : Labour and Employment Law Guy Lavoie : Labour and Employment Law / Workers' Compensation Law Jean Legault : Banking and Finance Law / Insolvency and Financial Restructuring Law Carl Lessard : Workers' Compensation Law / Labour and Employment Law Josiane L'Heureux : Labour and Employment Law Despina Mandilaras : Construction Law / Corporate and Commercial Litigation (Ones To Watch) Hugh Mansfield : Intellectual Property Law Zeïneb Mellouli : Labour and Employment Law Patrick A. Molinari : Health Care Law André Paquette : Mergers and Acquisitions Law Luc Pariseau : Tax Law Ariane Pasquier : Labour and Employment Law Jacques Paul-Hus : Mergers and Acquisitions Law Hubert Pepin : Labour and Employment Law Martin Pichette : Insurance Law / Professional Malpractice Law Élisabeth Pinard : Family Law François Renaud : Banking and Finance Law / Structured Finance Law Judith Rochette : Insurance Law / Professional Malpractice Law Ian Rose FCIArb : Director and Officer Liability Practice / Insurance Law Chantal Saint-Onge : Corporate and Commercial Litigation (Ones To Watch) Éric Thibaudeau : Workers' Compensation Law André Vautour : Corporate Governance Practice / Corporate Law / Information Technology Law / Intellectual Property Law / Technology Law Bruno Verdon : Corporate and Commercial Litigation Sébastien Vézina : Mergers and Acquisitions Law Yanick Vlasak : Corporate and Commercial Litigation Jonathan Warin : Insolvency and Financial Restructuring Law These recognitions are further demonstration of the expertise and quality of legal services that characterize Lavery’s professionals.

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  2. The Best Lawyers in Canada 2022 recognize 68 lawyers of Lavery

    Lavery is pleased to announce that 68 of its lawyers have been recognized as leaders in their respective fields of expertise by The Best Lawyers in Canada 2022. Lawyer of the Year   The following lawyers also received the Lawyer of the Year award in the 2022 edition of The Best Lawyers in Canada: Caroline Harnois: Family Law Mediation Bernard Larocque: Professional Malpractice Law   Consult the complete list of Lavery's lawyers and their fields of expertise: Josianne Beaudry : Mining Law / Mergers and Acquisitions Law Dominique Bélisle : Energy Law Laurence Bich-Carrière : Class Action Litigation René Branchaud : Mining Law / Natural Resources Law / Securities Law Étienne Brassard : Mergers and Acquisitions Law / Real Estate Law / Equipment Finance Law Dominic Boisvert: Insurance Law (Ones To Watch) Luc R. Borduas : Corporate Law Daniel Bouchard : Environmental Law Jules Brière : Administrative and Public Law / Health Care Law Myriam Brixi : Class Action Litigation Benoit Brouillette : Labour and Employment Law Richard Burgos : Corporate Law / Mergers and Acquisitions Law Marie-Claude Cantin : Construction Law / Insurance Law Charles Ceelen-Brasseur : Corporate Law (Ones To Watch) Eugène Czolij : Corporate and Commercial Litigation / Insolvency and Financial Restructuring Law Chantal Desjardins : Intellectual Property Law Jean-Sébastien Desroches : Corporate Law / Mergers and Acquisitions Law Michel Desrosiers : Labour and Employment Law Raymond Doray, Ad. E : Administrative and Public Law / Defamation and Media Law / Privacy and Data Security Law Christian Dumoulin : Mergers and Acquisitions Law Alain Y. Dussault : Intellectual Property Law Isabelle Duval : Family Law Chloé Fauchon: Municipal Law (Ones To Watch) Philippe Frère : Administrative and Public Law Simon Gagné : Labour and Employment Law Nicolas Gagnon : Construction Law Richard Gaudreault : Labour and Employment Law Danielle Gauthier : Labour and Employment Law Julie Gauvreau : Intellectual Property Law Michel Gélinas : Labour and Employment Law Caroline Harnois : Family Law / Family Law Mediation / Trusts and Estates Marie-Josée Hétu : Labour and Employment Law Alain Heyne : Banking and Finance Law Édith Jacques : Corporate Law / Energy Law Pierre Marc Johnson, Ad. E., G.O.Q., MSRC : International Arbitration Marie-Hélène Jolicoeur : Labour and Employment Law Isabelle Jomphe : Intellectual Property Law Guillaume Laberge: Administrative and Public Law Jonathan Lacoste-Jobin: Insurance Law Awatif Lakhdar: Family Law Bernard Larocque: Class Action Litigation / Insurance Law / Professional Malpractice Law Myriam Lavallée: Labour and Employment Law Guy Lavoie: Labour and Employment Law / Workers’ Compensation Law Jean Legault: Banking and Finance Law / Insolvency and Financial Restructuring Law Carl Lessard: Labour and Employment Law / Workers' Compensation Law Josiane L'Heureux: Labour and Employment Law Hugh Mansfield : Intellectual Property Law Zeïneb Mellouli : Labour and Employment Law Patrick A. Molinari, Ad.E., MSRC : Health Care Law André Paquette: Mergers and Acquisitions Law Luc Pariseau : Tax Law Jacques Paul-Hus : Mergers & Acquisitions Law Ariane Pasquier : Labour and Employment Law Hubert Pepin : Labour and Employment Law Martin Pichette : Insurance Law / Professional Malpractice Law Élisabeth Pinard : Family Law François Renaud : Banking and Finance Law Marc Rochefort : Securities Law Judith Rochette : Professional Malpractice Law Ian Rose : Director and Officer Liability Practice / Insurance Law Éric Thibaudeau: Workers' Compensation Law Philippe Tremblay : Construction Law / Corporate and Commercial Litigation Jean-Philippe Turgeon : Franchise Law André Vautour : Corporate Law / Energy Law / Information Technology Law / Intellectual Property Law / Private Funds Law / Technology Law Bruno Verdon : Corporate and Commercial Litigation Sébastien Vézina : Mergers and Acquisitions Law Yanick Vlasak : Corporate and Commercial Litigation Jonathan Warin : Insolvency and Financial Restructuring Law

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  3. Lavery helps to establish an affordable housing fund worth $151 million

    On May 4, 2021, the Government of Canada, the Government of Québec, the Fonds de solidarité FTQ and Ivanhoé Cambridge announced the formation of a consortium of investors that will make $120 million available to co-ops, non-profit organizations (NPOs) and housing agencies for the construction or renovation of affordable housing. The Lucie and André Chagnon Foundation, Fondaction, the Mirella and Lino Saputo Foundation and the J. Armand Bombardier Foundation collectively added $31 million to the sum. The strategic partnership will be managed by the Association des groupes de ressources techniques du Québec (AGRTQ) starting in the fall of 2021.  Lavery Lawyers advised and assisted the project partners with the drafting and implementation of the legal structure and documentation necessary to create and start up the consortium of investors. Lavery is pleased to have put its expertise and professional and financial resources to work for the project, and to thereby contribute to an initiative that benefits both families and the economic vitality of Quebec. The Lavery team, led by Brigitte Gauthier, was composed of Jean-Sébastien Desroches, Jean-François Maurice, François Renaud, Bernard Trang and André Vautour.

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  4. The Best Lawyers in Canada 2021 recognize 64 lawyers of Lavery

    Lavery is pleased to announce that 64 of its lawyers have been recognized as leaders in their respective fields of expertise by The Best Lawyers in Canada 2021. The following lawyers also received the Lawyer of the Year award in the 2021 edition of The Best Lawyers in Canada: René Branchaud : Natural Resources Law Raymond Doray, Ad. E : Administrative and Public Law  Édith Jacques : Energy Law André Vautour : Technology Law Consult the complete list of Lavery's lawyers and their fields of expertise : Pierre-L. Baribeau : Labour and Employment Law Josianne Beaudry : Mining Law / Mergers and Acquisitions Law Dominique Bélisle : Energy Law Laurence Bich-Carrière : Class Action Litigation René Branchaud : Mining Law / Natural Resources Law / Securities Law Étienne Brassard : Mergers and Acquisitions Law Luc R. Borduas : Corporate Law Daniel Bouchard : Environmental Law Jules Brière : Administrative and Public Law / Health Care Law Myriam Brixi : Class Action Litigation Benoit Brouillette : Labour and Employment Law Richard Burgos : Corporate Law / Mergers and Acquisitions Law Marie-Claude Cantin : Construction Law / Insurance Law Louis Charette : Aviation Law / Insurance Law / Product Liability Law / Transportation Law Eugène Czolij : Corporate and Commercial Litigation / Insolvency and Financial Restructuring Law Chantal Desjardins : Intellectual Property Law Jean-Sébastien Desroches : Corporate Law / Mergers and Acquisitions Law Michel Desrosiers : Labour and Employment Law Raymond Doray, Ad. E : Administrative and Public Law / Defamation and Media Law / Privacy and Data Security Law Christian Dumoulin : Mergers and Acquisitions Law Alain Y. Dussault : Intellectual Property Law Philippe Frère : Administrative and Public Law Nicolas Gagnon : Construction Law Richard Gaudreault : Labour and Employment Law Danielle Gauthier : Labour and Employment Law Julie Gauvreau : Intellectual Property Law Michel Gélinas : Labour and Employment Law Caroline Harnois : Family Law / Family Law Mediation / Trusts and Estates Jean Hébert : Insurance Law Alain Heyne : Banking and Finance Law Édith Jacques : Corporate Law / Energy Law Pierre Marc Johnson, Ad. E., G.O.Q., MSRC : International Arbitration Marie-Hélène Jolicoeur : Labour and Employment Law Isabelle Jomphe : Intellectual Property Law Jonathan Lacoste-Jobin : Insurance Law Awatif Lakhdar : Family Law Bernard Larocque : Class Action Litigation / Insurance Law / Professional Malpractice Law Guy Lavoie, CRIA : Labour and Employment Law / Workers’ Compensation Law Jean Legault : Banking and Finance Law / Insolvency and Financial Restructuring Law Guy Lemay, CRIA : Class Action Litigation / Labour and Employment Law Carl Lessard : Labour and Employment Law / Workers' Compensation Law Hugh Mansfield : Intellectual Property Law Zeïneb Mellouli : Labour and Employment Law Patrick A. Molinari, Ad.E., MSRC : Health Care Law Luc Pariseau : Tax Law Jacques Paul-Hus : Mergers & Acquisitions Law Ariane Pasquier : Labour and Employment Law Louis Payette, Ad. E. : Banking and Finance Law Hubert Pepin : Labour and Employment Law Martin Pichette : Insurance Law / Professional Malpractice Law Élisabeth Pinard : Family Law François Renaud : Banking and Finance Law Marc Rochefort : Securities Law Judith Rochette : Professional Malpractice Law Ian Rose : Director and Officer Liability Practice / Insurance Law Raphaël H. Schachter , c.r., Ad. E. : Criminal Defence Gerald Stotland : Family Law / Family Law Mediation Philippe Tremblay : Construction Law / Corporate and Commercial Litigation Jean-Philippe Turgeon : Franchise Law André Vautour : Corporate Law / Energy Law / Information Technology Law / Intellectual Property Law / Private Funds Law / Technology Law Bruno Verdon : Corporate and Commercial Litigation Sébastien Vézina : Mergers and Acquisitions Law Yanick Vlasak : Corporate and Commercial Litigation Jonathan Warin : Insolvency and Financial Restructuring Law

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