Frank Shostack

Tax, Corporate, and Business Advice for Small and Mid-size Businesses
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Work with Frank Shostack!

How it all started

Our Story

Many years ago, I was mentored by a very wise senior lawyer that when a client asks you a question, give them a simple answer, not a dissertation. That has been the guiding principle to every aspect of my approach to serving clients.

Working with my law clerk, Patricia Bedford since 1976, our clients look to us as an integral part of their decision making process. They count on us to be available to provide solutions that are understandable and affordable.

With today’s technology, I have made a point of always trying to be available by video or telephone conference to address client needs

Barring an unforeseen decision of a higher power, we hope to continue that mission for many years to come.

Roadmaps that Explain Your Solution

When we first meet with the client to discuss a problem that requires a solution, our main focus is to listen rather than lecture. Only when we fully understand the client’s objectives do we begin to offer possible alternative solutions. We then summarize those discussions for further consideration by the client, collaboratively identify the most desirable approach and then outline that approach both in writing and graphically where necessary.

Our objective is to ensure that the client understands where we want to go, how we are going to get there, and what contingencies or roadblocks we may encounter along the way. We don’t like surprises and we don’t want our clients to be side-tracked by them either.

We can help with every stage of your business

Business Expansion

Business Sales

Employee Incentive Plans

Intellectual Property

Governance

Financial Stress

Benefits of Transaction Facilitation

What We Can Do For You

This approach to implementing business transactions may have the following advantages over the adversarial system:

Relationship Management

we can prepare both parties for what is involved in a purchase and sale of a business and have them participate in structuring the process so that the parties understand what is required and are not caught by surprise, an experience that many sellers often find stressful.

Negotiation of the Deal

Ensuring that both parties are properly represented by their financial and business advisers, so that the parties are able to identify legitimate differences in their views of the proposed transaction and are able to address them in a facilitated environment that enables them to reach mutually acceptable solutions.

Cost Effective

avoiding the multiple exchanges of drafts of purchase and sale agreements between counsel that can double or triple the costs leading up to settlement of the terms of the transaction.

Transaction Facilitation

For a number of years, using a neutral intermediary to resolve litigious disputes (called “Alternative Dispute Resolution” or “ADR”) has been considered to be a preferred alternative to the adversarial system involving court proceedings. Recent developments in resolving matrimonial disputes, referred to as “Collaborative Law” have shown that this approach has been far more desirable than the destructiveness resulting from a scorched earth adversarial approach, providing, of course, that the parties wish to resolve their differences with the least amount of acrimony and cost.

Testimonials

“Frank’s my lawyer. He always gives me good advice, I don’t always listen to him, but he always gives me good advice”

“Having retired in 2015 as a senior financial officer of a large multinational corporation, I have known or worked with Frank since 1974. Frank represented our corporation as its primary external legal counsel in a number of extremely complicated matters that he managed brilliantly. His patience in gathering pertinent information in order to fully understand the issues in question resulted in the delivery of excellent legal advice and solutions with which we were all comfortable.”

Norman Todd, Navistar Canada

“Frank Shostack is a skilled and experienced professional who demonstrates genuine care and concern for the clients he serves. He is responsive, efficient, transparent and honest about the legal process. I felt genuinely supported the entire time I worked with Frank and am grateful for everything he was able to provide me.”

Melissa Kroonenberg, New Roots Therapy Inc.

“I met Frank in the early 1990s as a new shareholder in an established business perpetuating to the next generation. Since that time, I have benefited from Frank’s care and advice on a number of complex business matters relating to successive businesses in which I have been involved. Most recently, Frank managed an intricate restructuring of the outstanding securities a multi-shareholder financial services business that required completion on a very tight timeline. He and his law clerk worked collegially with our accounting firm and the executive group to complete the transaction efficiently and with a minimum of surprises. All of the members of the controlling shareholder group were 100% satisfied with the results.”

Neil Morrison, Platform Insurance Management

“My business would not be what it is today without Frank’s professional and informed
guidance…  Frank helped educate us on all our options for starting a company. He never tried to oversell to us and structured our company such that it could grow as we grew, yet always offered us the simplest options. There have been a few instances where we have needed corporate advice
from Frank (even if it was just how to word a document) and Frank was always available and so quick to respond with exactly what we needed. Have a phone call with him. You’ll know from that first phone call how good he is!”

Megan Nicoletti, Partner at CodeNext Inc.

“For over 40 years, Frank Shostack has been legal counsel for our company, the Canadian subsidiary of one of the leading printing ink specialists and raw material manufacturers worldwide.  He has represented us effectively and professionally through various acquisitions in North America, and has steered the Group successfully through a number of business disputes. He was appointed by the Group shareholders to the Canadian Board in recognition of his valuable contributions to the Company, a role that he assumed with great dedication and determination.”

Vivy DaCosta, VP Administration & Sales Directorate Hubergroup Canada