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Tim Heeney quoted in "Virtual deal rooms way of future", National Post


Lawyer Tim Heeney


Excerpt from "Virtual deal rooms way of future", by Vawn Himmelsbach:

Goodmans is testing out a white-label VDR to evaluate functionality with cost, to see if it's something it wants to offer clients.

"It's really client driven," said Tim Heeney, a partner with Goodmans in Toronto. "Our clients are often aware, or we make them aware, of these services and they find it easier to use them rather than having to make photocopies of everything."

More clients are looking to do a virtual closing where they don't have to get in the same room to sign documents. "This allows you to post all the signatures on the Web site once they're finished so everybody can see that it's signed," he said. But at this point VDRs are mainly being used for data room and due diligence processes.