Monica Cheng Partner | Calgary

Recent matters in which Monica has been involved include advising:

• Pembina Pipeline Corporation on its acquisition of Enbridge Inc.’s joint-venture interests in Alliance Pipeline, Aux Sable and NRGreen for C$3.1-billion and its concurrent C$1.1-billion bought deal offering of subscription receipts

• Suncor Energy on its C$1.468-billion acquisition of TotalEnergies EP Canada Ltd. from TotalEnergies Ltd., which holds a 31.23% working interest in the Fort Hills oil sands mining project

• Suncor Energy Inc. on its C$688-million acquisition of an additional 14.65% working interest in the Fort Hills Project from Teck Resources Limited

• Imperial Oil Resources Limited and ExxonMobil Canada Ltd. on the disposition of their interest in XTO Energy Canada to Whitecap Resources for C$1.9-billion

• Pembina Pipeline Corporation on its $11.4-billion joint venture with KKR & Co. to merge their western Canadian natural gas processing assets

• Great-West Lifeco Inc. in connection with its public offerings of C$1.5-billion principal amount of 3.60% limited recourse capital notes

• Pembina Pipeline Corporation in connection with its public offering of C$600-million aggregate principal amount of hybrid notes, the first non-chartered bank hybrid debt issuance in Canada involving the use of a special purpose trust structure

• Jupiter Resources Ltd. in its approximately C$630-million sale to Tourmaline Oil Corp.

• ENMAX Corporation on its US$1.3-billion acquisition of Emera Inc.'s interest in Emera Maine

• Nutrien Ltd. and its subsidiaries on numerous merger and acquisition transactions related to its retail agriculture and fertilizer production and distribution businesses

• Suncor Energy Inc. on its investment in Enerkem Inc., a Canadian biofuel technology company

• Cona Resources Ltd. and Waterous Energy Fund on their agreement to acquire Pengrowth Energy Corporation for approximately C$740-million

• WestJet in connection with its C$5.0-billion acquisition by Onex Corporation

• Canadian counsel to Heartland Generation Ltd., an affiliate of Energy Capital Partners, on its C$835-million acquisition of Canadian Utilities Ltd.'s natural gas and coal electricity generation interests in Alberta, British Columbia and Ontario

• Kinder Morgan Canada on its C$4.5-billion sale of the Trans Mountain Pipeline system and expansion project to the Government of Canada

• Sale by Ontario Teachers Ltd.'s Pension Plan of equity interest in GCT Global Container Terminals Inc. to IFM Investors (an Australian investment management company) and British Columbia Investment Management Corporation

• International Petroleum Corporation in connection with its acquisition of BlackPearl Resources Inc. for approximately C$675-million

• Pembina Pipeline Corporation on its US$9.7-billion acquisition of Veresen Inc.

• Best Lawyers: Ones to Watch in Canada 2023 (Tax Law)

Monica teaches corporate tax at Thompson Rivers University Faculty of Law and previously volunteered as a coach for the Donald G.H. Bowman National Tax Moot.

Monica is a member of the Canadian Bar Association, the CPTS, the Canadian Tax Foundation, and the International Fiscal Association. She is a former chair of the Canadian Bar Association Taxation Specialists (South).

Monica is a member of the board of directors of the Calgary Philharmonic Orchestra.

• Author : TCC Denies Treaty Benefits in Connection with Securities Lending Arrangements
  Canadian Tax Focus, Vol. 14, No. 1, Canadian Tax Foundation, February 2024.
• Co-author : Canada Proposes Updates to Green-Energy Tax Incentives
  Blakes Bulletin on Tax, September 15, 2023.
• Co-author : 2023 Federal Budget: Green-Energy Tax Incentives
  Blakes Bulletin on Tax / Energy, April 5, 2023.
• Co-author : Alta Energy Luxembourg: Canada Held to its Treaty Bargain
  Canadian Tax Focus, Canadian Tax Foundation, February 2022.
• Co-author : Taxation of Corporate Reorganizations
  Loose-leaf service, Thomson Reuters
• Co-author : Restoring the Alberta Advantage: Significant Amendments to the Alberta Business Corporations Act Now in Effect
  Blakes Bulletin on Tax/Energy, March 29, 2021.
• Co-author : Restoring the Alberta Advantage: Increased Simplicity for Businesses
  Blakes Bulletin on Energy, August 4, 2020.
• YIN Rapporteur : International Tax Roundtable
  International Fiscal Association (Canada) Conference, May 2018.
• Co-author : Canada: Application and Interpretation of the Principal Purpose Test
  International Tax Review, February 2018.
• Author : CRA Asserts Window Dressing, Denies TCP Treaty Exemption
  Canadian Tax Focus, Vol. 7, No. 4, Canadian Tax Foundation, November 2017.
• Author : Arm's-Length Rate is Not the Limit for Interest Deductibility
  Canadian Tax Focus, Vol. 6, No. 3, Canadian Tax Foundation, August 2016.

• Speaker : Navigating Clean Energy Tax Incentives
  Canadian Tax Foundation, Prairie Provinces Tax Conference, Saskatoon, Saskatchewan, June 2024.
• Speaker : Mandatory Disclosure Rules: Update and Select Issues
  Tax Executives Institute, Inc., 55th Annual Canadian Tax Conference, Ottawa, Ontario, May 2023.
• Speaker : Overview of Select Canadian Environmental Tax Initiatives
  Tax Executives Institute, Inc., Calgary, Alberta, December 2022.
• Speaker : Taxable Canadian Property & Section 116: Select Issues
  CPTS, Fall Lecture Series, Calgary, Alberta, October 2021.
• Guest Lecturer : Online Discussion on HMTQ v Rio Tinto Alcan Inc.
  McGill University and University of Ottawa, August 2020.
• Speaker : Highlights from the 2019 CTF Annual Conference
  Tax Executives Institute, Inc., Calgary, Alberta, December 2019.
• Guest Lecturer : Shareholder Benefits
  University of Calgary, Faculty of Law, Calgary, Alberta, October 2019.
• Guest Lecturer : Update on BEPS
  University of Calgary, Faculty of Law, Calgary, Alberta, March 2018.
• Speaker : Federal Budget 2018
  Tax Non-Specialists Group Presentation, Canadian Bar Association, Calgary, Alberta, March 2018.
• Speaker : Cash Pooling Arrangements
  Canadian Petroleum Tax Society Fall Lecture Series, Calgary, Alberta, November 2017.
• Speaker : Common Tax Issues for Corporate Lawyers
  Tax Non-Specialists Group Presentation, Canadian Bar Association, Calgary, Alberta, October 2015.

Admitted to the Alberta Bar – 2015
Admitted to the Ontario Bar – 2014
LLM (Taxation Law), Osgoode Hall Law School – 2014
JD, University of Calgary – 2012
BA, University of Calgary – 2009