Marlow Gereluk

Senior Partner
Norton Rose Fulbright Canada LLP

Marlow Gereluk

Marlow Gereluk



Marlow Gereluk acts as lead counsel in syndicated and bilateral debt financings, project financings, asset-backed lending and offerings of bonds, debentures and convertible debt, both national and cross-border. He also advises clients in connection with distressed debt offerings and restructurings, and inter-creditor negotiations. Mr. Gereluk has extensive experience with derivatives, particularly with commodity, cross-currency and interest rate hedging transactions, credit default swaps and equity derivatives, and has been a frequent author and speaker on the subject. He also has acted on a wide variety of business acquisitions and corporate restructurings for clients ranging from large multinationals to formation-stage enterprises.

Mr. Gereluk rejoined our Calgary office in 2009 after having worked in London, England, from 2000 to 2009. While in England, Mr. Gereluk worked with a "Magic Circle" law firm in its finance group, and then with Moody’s Investors Service in its structured finance group as a legal and policy advisor and ratings analyst. He later joined Citigroup Global Markets as an investment banker in its structured finance team before becoming a director with Key Capital Investment Management, a finance advisory and investment management company specializing in private equity and structured funds. Mr. Gereluk applies the skills he developed as an investment banker and ratings analyst in his approach to the law, providing efficient commercial legal advice.

Mr. Gereluk advises on transactions and agreements governed by English law and Alberta law.

Professional experience

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LL.B, University of Alberta, 1996
B.Comm., University of Alberta, 1993
Vasyl Stefanyk State University, Ivano-Frankivsk, Ukraine, 1992
  • Alberta 1997
  • Law Society of England and Wales 2002
  • Best Lawyers in Canada: Banking and Finance Law, 2020-2024; Asset-Based Lending Practice, Project Finance Law, 2024
  • Canadian Legal Lexpert Directory, 2020-2023: recommended in Banking & Financial Institutions
  • Thomson Reuters Stand-out Lawyers, 2022-2023
  • Profiled as a leading lawyer in the Lexpert Special Edition: Energy, 2021
  • “Framework for De-Linking Hedge Counterparty Risks from Global Structured Finance Cashflow Transactions” (co-author), Moody’s Revised Methodology, Moody’s Special Report, April 26, 2006.
  • “Tax Event Upon Merger in Synthetic CDO Transactions” (co-author), Moody’s Rating Methodology, January 11, 2005.
  • “CDO Sensitivity to Inter-Industry Correlation” (contributor), Moody’s Rating Methodology, January 28, 2005.
  • “Counterparty and Collateral Risks in Synthetic CDOs,” Moody’s Investors Service Conference, 2006.
  • “Operational Risk in Collateralised Loan Obligation Transactions,” Moody’s Investors Service Conference, 2005.
  • “Credit/Structural Issues in European Securitisation,” Moody’s Investors Service Conference, 2005.
  • “Arbitrage CDOs & Class Warfare: Structures, Performance, Ratings, Investor Concerns and Manager Evaluation” (panelist), 8th Annual Investors’ & Issuers’ Summit on Global ABS, 2004.
  • “Perspectives on European Leveraged Loan CDOs,” Information Management Network CDO Conference, 2003.
  • Member, Derivatives Advisory Committee, Alberta Securities Commission
  • Law Society of Alberta 
  • Law Society of England and Wales
  • Certification in Investments (Securities and Financial Derivatives), Securities and Investment Institute, UK