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Pat Forgione practises business law in the financial services industry, acting for domestic and foreign financial institutions on domestic and cross-border transactions. His expertise includes corporate and commercial financing, asset-based lending, syndicated lending, mezzanine financing, private equity and securitization. Pat has significant industry-specific knowledge in the automotive and technology sectors.

Financial institutions trust Pat’s counsel on the regulatory requirements relating to carrying on business in Canada, as well as ongoing compliance matters. His experience includes obtaining regulatory approvals for the establishment of operations in Canada by foreign banks, and ongoing regulatory capital requirements. Pat holds a certificate in regulatory compliance and legal risk management for financial institutions from Osgoode Hall.

Pat also works with automotive finance companies in connection with consumer finance matters, routinely providing advice on consumer protection relating to retail finance and leasing programs. He also counsels on the establishment and ongoing operation of wholesale dealer financing programs.



Representative Matters

  • Counsel to Comerica Bank in a connection with a large portfolio of loans to borrowers in the technology and life sciences sector
  • Counsel to RBC Capital Partners in connection with a $23,000,000 subordinate debt credit facility to a borrower in the business of providing downhole wireline services
  • Canadian counsel to JPMorgan in connection with a US$80,000,000 credit facility to a borrower specializing in energy efficiency solutions
  • Counsel to Comerica Bank in connection with a syndicated credit facility provided to DragonWave Corporation
  • Counsel to a large automotive finance counsel in connection with various unsecured loans from foreign and domestic lenders
  • Canadian counsel to JPMorgan in connection with a US$195,000,000 credit facility to a borrower in the business of manufacturing current carrying wiring devices

Speaking Engagements

Second Lien, Subordinated and Mezzanine Lending Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending

March 2012

Second Lien, Subordinated and Mezzanine Lending Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending

March 2011

News


Directorships & Affiliations

  • Canadian Bar Association
  • Turnaround Management Association

Education & Admissions

1997
Called to the Ontario bar
1995
LLBQueen's University
1991
BA (Honours)University of Toronto

Publications

Insights by Pat Forgione (22 Posts)

2020 Fintech Year in Review: Canadian Regulatory Developments

Feb 10, 2021

2020 Fintech Year in Review: Canadian Regulatory Developments

Rules for Control of Electronic Chattel Paper – Ontario’s Push to Modernize the Personal Property Security Act

May 18, 2020

On Friday, May 15, 2020, the electronic chattel paper amendments to the Ontario PPSA finally came into force, nearly a year after receiving royal assent.

Federal Government Relief Programs for Small and Medium Enterprises

Apr 24, 2020

Federal Government Relief Programs for Small and Medium Enterprises

A Call to Action on Open Banking

Jul 3, 2019

On June 19, 2019, the Standing Senate Committee on Banking, Trade and Commerce (“the Committee”) published a report on open banking entitled Open Banking

Getting the Deal Through – Banking Regulation 2018

Jun 1, 2018

The Canada chapter in Getting the Deal Through - Banking Regulation 2018 provides an overview of the regulations governing the banking industry in Canada

Banking Regulation 2018 – 5th Edition

Apr 24, 2018

global financial crisis has led to significant regulatory changes (most notably in the areas of liquidity and capital) designed to reduce the risk of another global financial crisis occurring

Getting the Deal Through – Banking Regulation 2017

Jun 27, 2017

Canada has a centrally regulated banking system with a focus on macroprudential regulation and stability of the financial system ...

Banking Regulation – 4th Edition

Jun 22, 2017

Global Legal Insights - Banking Regulation

Fintech at the Crossroads: Regulating the Revolution

Oct 30, 2016

Fintech at the Crossroads: Regulating the Revolution

OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements

Aug 31, 2016

OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements

OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting

Jul 13, 2016

OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting

Updates to the Bail-In Regime: Depositor Accounts

May 12, 2016

Updates to the Bail-In Regime: Depositor Accounts

Updates to the Bail-In Regime: Introduction of Bill C-15

May 10, 2016

Updates to the Bail-In Regime: Introduction of Bill C-15

Budget 2016: Introduction of a Bail-in Regime

Apr 5, 2016

Budget 2016: Introduction of a Bail-in Regime

OSFI releases guidelines in response to revised Pillar 3 disclosure requirements

Mar 7, 2016

OSFI releases guidelines in response to revised Pillar 3 disclosure requirements

Getting the Deal Through – Banking Regulation 2015, Canada chapter

Dec 23, 2015

Getting the Deal Through - Banking Regulation 2015, Canada chapter

OSFI Publishes Letter on Plans to Update Capital Requirements for Residential Mortgages

Dec 21, 2015

On December 11, 2015 OSFI released a letter notifying stakeholders that it is planning to update the regulatory capital requirements for residential mortgages and home equity lines of credit.

OSFI Updates Financial Assessment Criteria for Composite Risk Rating

Dec 3, 2015

OSFI Updates Financial Assessment Criteria for Composite Risk Rating

OSFI Publishes Draft of Revised Guideline for Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies

Aug 26, 2015

OSFI Publishes Draft of Revised Guideline for Minimum Capital Test For Federally Regulated Property and Casualty Insurance Companies

Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute

Feb 15, 2015

Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute

OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks

Jan 15, 2015

OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks