• Kelly Prested is involved in large scale corporate transactions including tax, mergers and acquisitions. As a senior law clerk, one of his tasks is performing due diligence searches for his team. This helps the team to determine whether the corporation exists, is in good standing, is insolvent or bankrupt, has creditor protection or is subject to litigation or enforceable judgments.

    Due diligence searches also provide an overall glimpse into the corporation. Conducting due diligence research helps the key players understand the business, its structure, its operations, its finances and its general culture. This knowledge helps the legal team to provide legal analysis for their clients and helps businesses assess their risks before any change of ownership.

  • The challenge in completing due diligence research, is to easily conduct a variety of searches in multiple jurisdictions. Kelly remembers doing so before oncorp was available. He says that some aspects of due diligence were nearly “impossible” to do, and at the very least it was a “cumbersome” process. Kelly notes, “someone had to go in person to the government office in every jurisdiction and search on their public computer terminal.” The process could take days or weeks and could involve high expenses for attendance.

    Kelly warns that improperly conducted due diligence could result in a failed deal. When that happens, all parties may be subject to lengthy and expensive litigation.

  • Kelly’s workflow is completely transformed with the use of oncorp. Kelly began using oncorp in the mid-2000’s. At the time, he worked as a junior law clerk and spent approximately 50% or more of his day using oncorp. It made his job “so much easier”. When he joined Norton Rose Fulbright in 2011, he was instrumental in promoting the use of oncorp at the firm and today, they are one of oncorp’s biggest clients and almost exclusively use the product.

    oncorp provides Kelly with “one stop shopping” for his due diligence work. He loves that it covers all jurisdictions in Canada, including Quebec, which is not included in the Federal NUANS database. The service provided by oncorp is “quick, efficient and has no mistakes”, says Kelly. He is confident that his data, retrieved directly from government databases, is accurate. He can transfer search results into documents with copy button features, eliminating the risk of data entry mistakes.

    oncorp’s due diligence feature provides multiple searches instantly. With connections to government databases, one search will return results for corporation names, status, documents and history; CCAA; PPSA; Bank Act; insolvency; writs and courts. Searches can be set up and saved as a draft for processing at the appropriate time. Clients only pay for requested reports. The summarize feature puts search results into a custom firm branded Word document. Results can also be combined into one or multiple pdf documents and shared with others, even if they are not an oncorp user.

    oncorp integrates with firm’s accounting systems to ensure all disbursements are properly captured. This means the firm can bill the client on-time and accurately to eliminate them from paying out-off pocket for dropped disbursements. Kelly “absolutely” agrees with the description of Dye & Durham’s products by Constance Fenyo, former President, as being “hassle-free, timely and accurate”. He remembers other products providing difficult experiences for him. There is also a ‘white glove’ service which provides personal service to complete transactions on your behalf or conduct additional searches manually.

    Kelly advises that the web-based platform helps to save paper and promotes efficiency. Prior to the digital era, governments issued one copy of an original document, bearing a stamp. He remembers that sharing documents required couriers which caused time delays and were expensive. Now, with oncorp, ‘original’ documents are in a PDF format, making them easy to share without scanning, faxing or photocopying. Work that used to take days is now completed a lot faster.

  • The service provided by oncorp is quick, efficient and has no mistakes. It's a big time-saver to have everything seamlessly working in one platform.

    Kelly Prested
    Law Clerk
    Norton Rose Fulbright

  • Streamlined Process for Form 2

    When Kelly noticed that oncorp did not provide a Form 2, Consent to Act as First Director, with the Articles of Incorporation, he suggested its inclusion. Kelly says, “it’s a big time saver to have everything seamlessly working in one platform”.

    Form 2 is required by the government and must be signed and saved, but it originally needed a separate, cumbersome, process outside of oncorp. As a result, Kelly observed that sometimes this form was overlooked. oncorp is now the only web-based product offering this document.
    Kelly advises that he can complete and file this and other corporate forms much quicker using oncorp. He says it “makes life so much easier”. ”

  • The product allows thorough, reliable searching in all of Canada and most of the United States of America, which is very, very beneficial. oncorp is detail oriented and client driven and its seamless delivery of products and services helps make us look good.

    Kelly Prested
    Law Clerk
    Norton Rose Fulbright

  • Kelly conducts due diligence searches quickly and easily with oncorp. The product allows thorough, reliable searching in all of Canada and most of the United States of America, which he says is, “very, very beneficial”. He often works with global clients and knowing that oncorp can address the vast majority of his searching needs makes him certain that this is the right product for him.

    “Oncorp is detail oriented and client driven”, Kelly expresses. Using this product allows him to work quicker. It helps him to better manage his time and ultimately, to provide excellent client service.

    Norton Rose Fulbright’s principles are “quality, unity and integrity”. Kelly says that “oncorp and its seamless delivery of products and services helps make us look good”.

  • Kelly Prested has been a corporate law clerk for twenty-one years. He joined the Toronto location of Norton Rose Fulbright in 2011 after working at another prominent Bay Street law firm. He currently works on a team of seven corporate law clerks. Norton Rose Fulbright is an international law firm based in 33 countries with more than 4000 lawyers and legal staff. Norton Rose Fulbright achieved a top 5 ranking in Acritas' Sharplegal 2017 Global Elite Brand Index.

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