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Herbert Black is a Canadian businessman, art collector, and philanthropist. He is currently President & CEO of American Iron & Metal Company Inc.

American Iron & Metal Company, Inc. (AIM)

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Main article: American Iron & Metal

American Iron & Metal is based in Montreal, Quebec, and currently has over 2,500 employees and 80 locations around the globe, with revenues exceeding $2 billion. Established in 1936 by Black's father, Peter, AIM buys, services, processes, and supplies all types of ferrous and nonferrous scrap metal.[1] Black took over AIM with his brother Ronald in 1970. A global leader in metal recycling, manufacturing, and environmental services, AIM has grown both organically as well as via acquisition. The company has branched out into five separate lines of business: AIM Recycling, AIM Solder, Delsan AIM (demolition services), AIM Kenny U-Pull (secondary auto parts) and AIM Éco-Centre (dry waste treatment).

Biography

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Herbert Black joined his father's scrap metal recycling business, American Iron and Metal Company Inc. ("AIM") in 1961, at the age of 17. Over the past 55+ years, he has played a key role in transforming AIM from a local scrap operation to one of the largest and most successful recycling enterprises in North America.

Mr. Black was awarded the 2005 Ernst & Young Entrepreneur of the year award in the Business to Business category as well as the 2005 National Citation for Entrepreneurial Philanthropy awarded by Ernst & Young.

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Sumitomo

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In June 1996, Sumitomo, at the time the largest trader of copper in the world, announced that it had suspended its chief copper trader, Yasuo Hamanaka, for secret, unauthorized transactions. It was alleged that he was able to artificially raise the price of copper by manipulating the company to purchase up to 2 million tonnes of copper.

Three players were linked to the scandal as short sellers: George Soros with Quantum Fund, Julian Robertson with Tiger Fund, and Black with AIM.[2][3] While trading on two other stock exchanges, Black assumed as a result of this that the price of copper would decrease as supply appeared to be superior to demand. While he lost money from other trading activities in late 1995, he profited greatly from the announcement of the suspension by Sumitomo as the price of copper dropped significantly. However, he still claimed to have lost money from his trading activity due to the scandal and launched an official complaint with the Commodity Futures Trading Commission (CFTC), the body which regulated commodities trading.

It was as a result of this complaint that he met Denis O'Keefe, the deputy director of Compliance for the CFTC, and they began to meet regularly. It was subsequently revealed that Black would provide information to O'Keefe and based on this information, persuaded him to continue the investigation of Sumitomo. O'Keefe, a practicing lawyer, was secretly taking folders related to the CFTC case on Sumitomo and providing them to Black, and was also advising him on how to retrieve other documents with relevant information through the Freedom of Information Act, allegedly for the purpose of profiting from Sumitomo's apparent trading manipulation.

In December 2000 O'Keefe was dismissed from the CFTC, and when he left he took additional documents related to the Sumitomo case to give to Black. With this information and that of other documents he had acquired, in April 2002 Black launched a lawsuit in the US against Sumitomo, as well as against Global Minerals & Metals and Merrill Lynch. In May, he launched a second lawsuit in the UK. Black alleged in these suits that his losses were at least US$256 million.[4]

In its defense, Global stated how similar this case was to other cases in Black's "'history': They stated that his pattern was to 'corrupt' individuals and convince them to 'betray' the trust that had been confided in them."[5] O'Keefe was a witness in the American case and admitted to perjury.

Lawyers arguing against Black in both the US and the UK trials discovered that he was trading on multiple exchanges and was short selling in both accounts, and so questioned whether he suffered any losses as a result of the decline in copper prices. They soon realized that he was using one account to cover up short selling on the other, all the while declaring losses from each side.

All parties in the American case eventually reached an out-of-court settlement. However the judge in the case required that Black "abandons with compensation the prosecution in England"[6] as well. He was also ordered to return all illegally obtained evidence to the government and sign an affidavit or he would personally charge Black for racketeering.

Dissatisfied by O'Keefe's lack of punishment, Sumitomo went to the Bar of the District of Columbia which conducted a disciplinary investigation and found him to be in violation of 11 rules of the Code of Ethics. He was later struck from the Bar.[7]

Christie's and Sotheby's Auction Houses

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In January 2000 Black was the lead plaintiff in a successful class action lawsuit accusing the heads of Christie's and Sotheby's auction houses of price-fixing their products. An avid art collector, he noticed he was no longer able to avoid sellers' fees by playing one house against the other in negotiations, and so began his investigation into the potential collusion between them. All the while, he continued to buy from each house, believing he would eventually be compensated when he had enough evidence to launch his lawsuit.[8][9][10]

JITEC

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In 2000, Black allegedly repeated the process by forging a friendship with up-and-coming businessman Benoît Laliberté. Laliberté, whose company JITEC's stock had risen from CDN$3.80 per share in late July 2000 to CDN$11.65 in only a few weeks, met Black in September 2000 and he became an advisor to Laliberté. Black soon asked for free trading shares in JITEC, a request which was denied by Laliberté. Then in October 2000, Black filed a complaint with the Quebec Securities Commission (QSC) against Laliberté stating that he was involved in questionable trading that helped boost JITEC's stock. Among the staff Black met with at the QSC was Jean Lorrain who was the Director of Compliance. Lorrain later went on to testify at an inquiry into the matter that Black had "put enormous pressure on the commission" to quickly "halt trading in JITEC stock" but that he had "presented himself as not having any personal connection to JITEC." He described Black as "an industrialist who has had disputes before (…) with other securities commissions, always as an informant or as (…) a white knight, in the way of a person who crusades against illegal activities. (…) he always turns a personal profit from the scandals in which he acts as an informant."[11]

Another investigator of the case, Paul Trudeau of the Commission des valeurs mobilières du Québec (CVMQ), now known as the Autorité des marchés financiers (AMF), admitted to have accepted a bribe of $1,000 from Black in 2000. After their initial meeting regarding JITEC, Trudeau was frequently invited by Black to his home in Westmount for drinks. This was deemed highly unusual by his superiors. It was then that Black would extract information from him about JITEC. When they were out for dinner one night, Black invited Trudeau back to this car and gave him $1000 cash in return for his secrecy. This was revealed by a fellow employee of the CVMQ, Catherine Gagnon. She had been informed of the bribe through an acquaintance, but when she confronted Trudeau about it she feared he would become suicidal if the truth was known. For this reason, she kept this information to herself for three month, as well as because she "feared for her life",[12] knowing of Black's wealth, power, and reputation. She finally revealed what she knew after she found out that another QSC investigator, Laurent Lemieux, was fired for leaking information about the JITEC case to the press. Trudeau was dismissed from the QSC but appealed against this in court. As the QSC were eager to be rid of him, it was decided that he would receive his salary through to December 2006 so long as he would never come within 75 feet of any QSC office. While Black, denied the bribe, he later admitted to shorting JITEC's stock after believing it would plummet when a news article came out based on information that he had given the QSC, along with privileged information he had received through his connection to Laliberté.

Don MacDonald, a writer for The Montreal Gazette, would later admit to having Black as an informant on the JITEC case. This was seen as questionable as Black was not an insider and never an official shareholder in JITEC. There would often be articles written by MacDonald with information on the case that were published earlier in the day than when the information was made public. While Black and others were short selling JITEC stock, the price was allegedly artificially boosted from CAD3.00 to CAD11.00, causing a significant loss to all short sellers. This led to a class action lawsuit with the initial $25 000 funded by Black for through Kugler Kandestin Attorneys. MacDonald already had an article published about it in The Gazette the morning of the day that the lawsuit was launched. MacDonald also had an article published regarding the cease-trading order on Laliberté signed by Paul Trudeau the same morning that Laliberté received it in November 2000. Investors in JITEC had started rumours in online forums and chat rooms that MacDonald was gay and a pedophile in order to discredit him – something Laliberté firmly denies any involvement in. However, the constant bad publicity of JITEC continued to put downward pressure on its stock.

JITEC finally collapsed in 2001. As a result, numerous legal actions were launched by the parties involved. The class action suit is still pending.[13][14][15]

Marc Rich and Denise Rich

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Among Black's many high-profile friends was Denise Rich, US socialite and ex-wife of Marc Rich. Marc Rich, a former associate of Black, gained notoriety in 2001 when he received a controversial presidential pardon from then US President Bill Clinton on charges of tax evasion.[16]

Black went on to sue Denise Rich for breach of contract as she had never paid him for what she thought was free advice from a friend. The case is ongoing.[17]

"Eric and Lola"

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Black was also involved in a landmark case of the economic rights of common-law partners in Quebec. "Eric and Lola" as they are known in the press due to a publication ban in Quebec, met in 1992 when Eric, then 32, was vacationing in Brazil. They began a relationship and Lola, then 17, soon moved to Quebec to be with him. After ten years together (making them a common law couple in Quebec) and three children, the relationship ended, but as they were not legally married Lola was not entitled to usual spousal support that would have been provided for her under Quebec law. Although she received a house worth $2.5 million, $36 500/month in child support, a car and chauffeur, a chef, and a nanny from Eric, Black, who briefly dated Lola after their separation, encouraged her to pursue legal action against him. Lola went on to sue Eric for a $50 million lump sum and an additional $56 000/month in alimony. After losing, Black said that he would personally fund her appeal. One of Lola's lawyers, Anne-France Goldwater, went on to sue Black in order to receive $57 000 in unpaid legal fees.[18][19][20][21]

The Supreme Court ruled against Lola on January 25, 2013. The case is said to be precedent-setting for family law in Quebec.[22]

Jean-Guy Hammelin and the Fonds de solidarité FTQ

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In December 2007, AIM announced that it would be acquire its rival in the metal recycling industry of 20 years the Société nationale de ferrailles (SNF) belonging to brothers Bernard and Jean-Guy Hammelin for $64.2 million ($4.2 million of which would be held for three years).

After the acquisition Black claimed that the SNF had cashed in substantial operating losses and that he was unaware of such losses at the time he acquired the company. In 2011 he demanded more than $15 million in compensation for that, and among other "irregularities", Black accused Jean-Guy and the FTQ of hiding financial information, misrepresentation, and destroying documents. Black also said that Hamelin sold him SNF knowing that part of the Laval facility did not meet municipal zoning regulations and the Protection of Land and Agricultural Activities Act, forcing him to relocate the facility and costing him $4.6 million.

Hamelin denied the allegation. The defense countered that Black was aware of the financial difficulties of the SNF, so much that he put pressure on the Competition Bureau of Canada for acceptance on his bid. They also noted the eagerness of Black to buy his competitor, saying that he offered $10 million more than any other buyer. He also stated that on December 4, 2007, documents relating to finances, permits, and the list of disputes were delivered. Mr. Hamelin countersued for the $4.2 million owed and $200,000 in damages, plus interest.

The case is ongoing.[23][24]

Philanthropy

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Herbert Black is well known in Montreal as a philanthropist[citation needed], having donated considerably to several organizations and causes[citation needed]. He has donated millions of dollars to McGill University and its Montreal Neurological Institute and Hospital, as well as to the Maisonneuve-Rosemont Hospital.[25][26] He endowed the Chair of Surgical Oncology at McGill University, funding research in oncology, as well as the Herbert Black Unit for Teaching and Learning in Medicine at McGill.[citation needed]

References

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Herbert Black

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Herbert Black is a Canadian businessman, art collector, and philanthropist who has served as owner, president, and CEO of American Iron & Metal Company Inc. (AIM), a family-owned metal firm founded by his father, Peter Black, in in 1936. Under Black's direction, AIM has grown into one of North America's largest and most diversified metal recyclers, with operations spanning and the United States, including acquisitions such as the Roth Steel yard in . Black, alongside brothers and , has steered the company toward expanded processing capabilities in and non-ferrous metals, , and related industries. As a philanthropist, he has contributed significantly to medical advancements, including a $2.5 million to establish cellular initiatives at Hôpital Maisonneuve-Rosemont in . Black's business career has involved notable legal engagements, often described as combative, stemming from disputes over operations like the establishment of recycling plants amid environmental opposition. AIM facilities under his oversight have experienced safety incidents, including explosions from residual gases in processed vehicles and at least two worker fatalities in Saint John, New Brunswick, within a seven-month span in 2021–2022, prompting fines such as a $100,000 penalty for a 2022 death.

Early Life and Business Foundations

Family Background and AIM Origins

American Iron & Metal (AIM) was founded in 1936 by Peter Black as a modest scrap metal operation located on Notre-Dame Street East in , . Peter Black established the business during the era, focusing initially on buying, processing, and supplying and nonferrous metals in a nascent industry centered in urban centers like . The company remained family-owned from its inception, reflecting the entrepreneurial spirit of early 20th-century immigrant and working-class families entering resource-based trades in . Peter Black's sons—Herbert, Ronald, and Richard (also known as Ricky)—grew up immersed in the operations, inheriting and expanding the enterprise across generations. Herbert Black, the eldest son, joined his father's business in 1961 at the age of 17, bringing youthful energy to an established but localized scrap yard. This early involvement marked the transition toward professionalized leadership within the family, with the brothers collectively steering AIM from a single-site processor to a multinational recycler by leveraging post-World War II industrial booms in metals demand. The origins of AIM underscore a classic trajectory of family succession in the scrap metal sector, where hands-on experience supplanted formal innovation in the pre-regulatory era of recycling. Under the family's stewardship, the firm prioritized operational efficiency over diversification initially, processing local industrial waste into salable commodities amid Canada's growing manufacturing base. This foundation enabled subsequent expansions, though early records highlight reliance on manual labor and rudimentary equipment typical of Depression-era startups.

Education and Initial Career Steps

Herbert Black joined his father's scrap metal recycling business, American Iron & Metal Company Inc. (AIM), in 1961 at the age of 17, marking the start of his career in the industry. This early immersion provided him with foundational, hands-on experience in scrap processing and recycling operations, building on the small-scale enterprise Peter Black had established on Notre-Dame Street East in in 1936. Details of Black's formal prior to entering the are not extensively documented in public sources. By assuming operational roles at a young age, he contributed to AIM's evolution from a local scrap yard into a more structured operation, leveraging practical knowledge over academic credentials in the early phases of his .

Leadership of American Iron & Metal

Expansion and Operational Growth

Under Herbert Black's leadership, following his assumption of control alongside his brother in , American Iron & Metal (AIM) transitioned from a regional scrap metal operation into a multinational enterprise with operations spanning , the , and . The company invested in advanced , including one of the world's earliest heated metal facilities in 1963, which improved worker efficiency and processing capacity during the pre-takeover phase under family oversight. By the early , AIM pursued large-scale projects such as the $25 million metal plant established in , , in 2005, enhancing regional ferrous and non-ferrous processing capabilities despite local opposition. Operational expansion accelerated through strategic facility upgrades and shredder installations. In 2011, AIM received approval for a $30 million scrap metal shredder expansion in , incorporating high-capacity equipment to handle increased volumes of end-of-life vehicles and industrial . Key acquisitions bolstered this growth, notably the 2008 purchase of SNF Inc., Quebec's other major recycler, which consolidated market share and integrated complementary yards and processing lines. Further diversification included a stake in a scrap operation, extending AIM's supply chain into . International outreach intensified in the 2020s with U.S.-focused initiatives. In July 2021, AIM acquired Liberty Iron & Metal's remaining U.S. operations for $32.5 million, gaining two auto shredding plants and expanding shred production capacity across multiple states. That December, the company completed the purchase of Fern Piche & Sons Ltd., adding specialized assets in . These moves, directed by Black as CEO, resulted in a broadened operational footprint, with enhanced logistics for global metal flows and a focus on high-volume shredding to meet rising demand for recycled materials.

Key Acquisitions and Industry Impact

Under Herbert Black's leadership as President and CEO, American Iron & Metal (AIM) pursued strategic acquisitions that expanded its operational scale and geographic reach in the scrap metal recycling sector. In early 2008, AIM acquired SNF Inc., Quebec's second-largest scrap metal recycler, merging it with AIM's operations and positioning the Black family as controllers of the province's two dominant players in and non-ferrous processing. This deal enhanced AIM's processing capacity and supply chain efficiency in , enabling greater volumes of recycled metals for steel mills and foundries. Subsequent expansions targeted U.S. markets for diversification beyond Canada. In April 2015, AIM agreed to purchase the 23-acre Roth Steel scrap yard in Syracuse, New York, for $687,500, adding a strategically located facility near Onondaga Lake to its North American network and facilitating cross-border scrap flows. By July 2021, AIM further strengthened its U.S. presence through the $32.5 million acquisition of Liberty Iron and Metal's remaining American operations, including high-capacity shredders previously owned by Chiho Environmental Group, which Black described as a move to scale shredding and trading activities stateside. These acquisitions propelled AIM's transformation into a multinational with over 135 locations , non-ferrous, and electronic scrap, contributing to industry-wide by diverting materials from landfills, conserving in remelting processes, and supplying recycled inputs that reduce virgin ore extraction demands. Under Black, AIM's growth model emphasized , including shredder investments, which improved material quality for end-users like automakers and firms, while bolstering regional economies through job creation in and logistics. The firm's expanded footprint has also intensified competition in North American scrap markets, pressuring smaller operators to consolidate and elevating standards for environmental compliance in yard operations.

Commodity and Art Market Engagements

Copper Trading Activities

Herbert Black, as president and CEO of American Iron & Metal Company Inc., oversaw the processing and trading of scrap as part of the firm's core operations in and non-ferrous metals. The company, founded in , sources, recycles, and exports copper-bearing materials, contributing to global supply amid fluctuations in demand from major consumers like . In 2014, Black highlighted an oversupply of , attributing it to reduced needs and warning of potential defaults in trade contracts with Chinese buyers. Beyond physical scrap handling, personally engaged in speculative trading on Metal Exchange, executing high-risk short positions against perceived overvaluation in the market. These trades, conducted through brokers including Brandeis Ltd., capitalized on anticipated price corrections driven by underlying supply-demand fundamentals. Reports indicate Black amassed profits estimated at $50 million to $75 million from such positions as prices declined sharply in mid-1996. Black's approach to copper trading emphasized empirical market signals over prevailing price trends, reflecting his in dealing where physical inventories inform forward expectations. He publicly expressed skepticism toward sustained high prices, predicting further weakening based on global production levels exceeding consumption.

Involvement in Art Auctions and Collections

Herbert Black developed a significant collection of in the late 1980s and early 1990s, comprising original cels, backgrounds, layouts, and drawings produced by Studios. This collection was consigned for auction at New York on June 27, 1992, under the title The Herbert Black Collection of , marking one of the largest single-owner sales of material at the time. The event featured hundreds of lots from early Disney features, though results reflected a softening market for pre-1940s , with total proceeds falling short of presale estimates amid broader industry caution. Beyond animation, Black pursued acquisitions in Impressionist and , establishing himself as a Montreal-based collector focused on paintings and antiques through purchases at major houses. By the mid-1990s, amid a sluggish , he held an inventory valued at approximately five million dollars that he sought to liquidate via channels. His engagements with and spanned buying and selling high-value works, positioning him as a repeat participant known for discerning tastes despite reported frustrations with dynamics. Black's approach emphasized personal connoisseurship, often prioritizing direct appreciation of artworks over market speculation.

Sumitomo Copper Scandal Participation

Herbert Black, as president of American Iron & Metal Company Inc., a Montreal-based scrap metal firm with extensive trading operations, suspected Sumitomo Corporation's efforts to manipulate global prices upward through unauthorized trades by its chief trader, . Black's analysis of market fundamentals, including rising inventories and stagnant price declines, led him to reverse his initially long position in May 1996 and establish substantial short positions in futures, betting against the artificially supported prices. When Sumitomo disclosed on June 13, 1996, that Hamanaka's decade-long scheme had resulted in $1.8 billion in hidden losses—primarily from off-exchange trades designed to corner the market—copper prices collapsed sharply, enabling Black to close his at a profit reported in the tens of millions of dollars. His aggressive counter-trading, conducted on a massive scale during 1996, pressured the manipulated positions and contributed to unraveling Hamanaka's copper , which had dominated physical and futures markets for over ten years. Black's actions aligned with broader market skepticism from other speculators and funds who similarly shorted amid discrepancies between supply data and price behavior. Post-scandal, Black avoided futures trading due to lingering market distortions from Sumitomo's unwind, focusing instead on physical dealings through American Iron & Metal. While Black's profits stemmed from prescient market positioning rather than with Hamanaka's scheme, his role highlighted vulnerabilities in trading oversight, prompting regulatory scrutiny of off-exchange deals and internal controls at major firms. No evidence links Black to any illicit participation in the manipulation itself; his involvement was as a profitable adversary to the .

Christie's and Sotheby's Price-Fixing Litigation

In January 2000, Herbert Black, a Montreal-based metals trader and art collector, filed the initial class-action antitrust lawsuit against Christie's International PLC and Sotheby's Holdings Inc. in the U.S. District Court for the Southern District of New York, alleging that the two leading auction houses had colluded to fix and inflate sellers' commissions on art and collectibles consigned between at least 1993 and 2000. Black sought to serve as lead plaintiff, claiming damages for himself and a proposed class of similarly affected sellers who had paid non-competitive rates averaging 10% on hammer prices, refusing negotiations that had previously been common. His suspicions arose from identical pricing structures quoted by both houses during his dealings as a frequent consignor of furniture and decorative arts. To pursue the case, Black retained antitrust specialist Christopher Lovell, known for prior high-profile victories. The complaint detailed a involving secret meetings and communications between executives, including shared commission schedules and agreements not to undercut each other, which suppressed and extracted over $400 million in excess fees from U.S. sellers alone. Black's filing triggered a cascade of similar suits from other collectors and spurred federal investigations, culminating in criminal charges; former CEO Diana Brooks pleaded guilty to antitrust violations in 2001, while avoided indictment by cooperating with the U.S. Department of Justice. The later opened its own probe in 2002, citing Black's suit as a catalyst for uncovering the international scope. Without admitting liability, both auction houses agreed to settlements totaling $512 million in September 2000—$256 million each—to compensate affected sellers via cash payments, credits for future auctions, and administrative funds, subject to court approval. portion included $50 million in cash and equivalent credits, with former chairman personally contributing $156 million amid separate fraud charges. Black's action as the pioneering facilitated recovery for thousands of consignors, though individual awards varied based on proven overcharges, and the case underscored vulnerabilities in the opaque pricing.

JITEC Corporation Matters

In October 2000, shares of Jitec Inc., a Montreal-based technology firm specializing in low-cost networking systems, were halted on the amid a public dispute with Herbert Black, president of American Iron & Metal Co. Black had been accused by Jitec executives of aggressively short-selling the company's stock, with reports indicating he sought a price drop to $4 per share to close his positions profitably. Jitec responded by retaining lawyers from the firm Lavery, de Billy to negotiate a settlement, following prior discussions and a meeting with Black. Black denied maintaining short positions at the time and publicly challenged the credibility of Jitec's announced $105-million partnership with Payphone Inc., which contributed to regulatory scrutiny by the Securities Commission over trading patterns and disclosure issues. The trading halt stemmed from uncertainties surrounding the deal's terms, exacerbating volatility in Jitec's shares, which had listed on the exchange just months earlier in July 2000. Following Jitec's subsequent financial collapse and delisting, former company executives leveled accusations against Black in legal filings. Benoit Laliberté, Jitec's founder, claimed in 2007 that Black had expressed frustration after Laliberté rejected his offer to buy 1 million Jitec shares at a steep discount, amid the firm's deteriorating position. In documents filed around the same period, Jitec's ex-president alleged that Black had enriched himself by capitalizing on the company's downfall, though no formal lawsuit directly naming Black resulted from these claims. These assertions coincided with separate regulatory actions against Jitec insiders, including fines against its former president for and misleading investor statements totaling nearly US$900,000 in 2008.

Marc Rich and Denise Rich Business Deal

In 2002, Herbert Black, president of American Iron & Metal Company Inc., initiated a business arrangement with Denise Rich, the ex-wife of commodities trader Marc Rich, wherein Black served as her consultant and adviser for the potential sale of her music publishing business. Black alleged that Rich agreed to compensate him with a 5 percent commission on any sale price he facilitated. Over several months, Black reportedly negotiated with prospective buyers, securing offers of $25 million and $30 million for Rich's song catalog, which included rights to compositions she had written or co-written. Black filed a breach-of-contract against Rich and her company, Denise Joy Inc., on August 15, 2002, in Supreme Court, seeking $1.5 million in damages for unpaid fees and expenses. He claimed that after presenting the buyers, Rich ceased communication, refused to proceed with the transactions, and failed to remit his entitled compensation despite his efforts in sourcing and advancing the deals. Rich's attorney countered that no binding written agreement existed, characterizing Black's role as informal and denying any obligation for payment absent a finalized sale. The dispute highlighted tensions in Black's advisory role, which stemmed from prior social and professional ties; Black, a metals trader with connections in commodities circles overlapping those of , had been acquainted with the couple through high-profile networks in art and business. Court records did not indicate a direct involvement by in the music asset transaction, which pertained solely to Denise Rich's personal holdings as a songwriter. The case outcome remains unreported in public filings, suggesting a possible private settlement, though it underscored risks in verbal business commitments among elite circles.

"Eric and Lola" Operations

Herbert Black provided substantial financial backing to "Lola," the for a Brazilian woman in a high-profile legal dispute over the economic rights of common-law partners, by covering more than $1.2 million in her legal fees against her former partner "." Black, who had initiated a relationship with Lola in 1992 when she was 17 and he was 32, dated her for approximately two years before their involvement ended; he later reconnected with her following her separation from Eric around 2002. This support extended to securing interim arrangements for Lola and Eric's three children, amid claims of a tumultuous involving the couple's children aged 13, 10, and 8 as of 2009. The litigation, anonymized due to a publication ban to protect the children, centered on Lola's demand for $56,000 monthly spousal and plus a $50 million lump-sum settlement from Eric, challenging articles in Quebec's that exclude de facto spouses from automatic and property division rights available to married couples. Eric had voluntarily provided $34,260 monthly to support Lola and the children post-separation, but Lola argued for enhanced entitlements based on their 10-year . Black's funding facilitated appeals through Quebec courts, with the Quebec of initially rejecting her claims in 2009 before further proceedings. In January 2013, the Supreme Court of Canada ruled in Québec (Attorney General) v. A. (the formalized Eric v. Lola case) that Quebec's exclusion of unmarried partners from spousal support provisions did not violate equality rights under the Canadian Charter of Rights and Freedoms, affirming no legal obligation for alimony in such unions while noting voluntary support could continue. Black's role drew public attention given his status as a Montreal-based metals magnate, with total legal costs for Lola exceeding $3 million by 2011, portions of which he underwrote amid prior court skirmishes over fee payments. This involvement highlighted tensions in Quebec's family law regime, which prioritizes contractual marriage over informal unions, though critics contended it disadvantaged vulnerable partners. Joint custody of the children was established, with Eric maintaining primary support responsibilities post-ruling.

Jean-Guy Hamelin and FTQ Fund Interactions

In the scrap metal industry, Herbert Black, through American Iron & Metal (AIM), engaged in competitive dealings with Jean-Guy Hamelin, whose companies included Gestion Immelin and Hamétal Canada, often supported by investments from the Fonds de solidarité FTQ. A key interaction centered on the 2007 acquisition of SNF Inc., a Laval-based scrap metal firm, which AIM purchased for $64.2 million, with the deal finalized on February 4, 2008, after $4.2 million was withheld as a holdback for three years to cover potential liabilities. Black initiated a $15 million in 2011 against , his companies, and the FTQ Fund, alleging they concealed SNF's severe financial losses—averaging $2.93 million per month prior to the sale—and breached post-sale obligations totaling $8.7 million, including the payment of $800,000 in undue employee bonuses. Black further accused of destroying documents relevant to the transaction, which dismissed as accumulated personal papers from over 30 years of business. countered that Black had been aware of SNF's operational challenges, had exerted control over the company since December 2007 without conducting proper due diligence, and had pressured Canada's to expedite approval of the deal to outmaneuver competitors. Hamelin's sought release of the $4.2 million holdback (due February 1, 2011), plus $200,000 in , , and a court-ordered retraction of Black's statements, which Hamelin deemed defamatory. The FTQ Fund's involvement stemmed from its financial backing of Hamelin's enterprises, positioning it as a co-defendant in the misrepresentation claims, though specific details of its investment stake in SNF were not publicly detailed in the filings. The dispute highlighted tensions in Quebec's tightly knit metal sector, where union-linked funds like the FTQ played roles in funding smaller operators against larger consolidators like AIM. No public resolution or verdict was reported as of 2012, amid ongoing litigation.

Philanthropy and Community Involvement

Charitable Donations and Art Patronage

Herbert Black has directed substantial charitable contributions toward healthcare and , particularly in Montreal-area institutions. He donated $2.5 million to the Hôpital Maisonneuve-Rosemont Foundation to establish the Centre of Excellence for Cellular Therapy, a commitment that catalyzed an additional $60 million in funding from other sources and underscored his emphasis on advancing . This gift reflected Black's personal conviction in cellular therapy's transformative potential, as he actively participated in foundation events and increased his support over time. Black also contributed to McGill University's $3 million endowment for the Drs. Richard and Sylvia Cruess Chair in Medical Education, announced in 2010, alongside donors including Robert Stevenson and the Molson Foundation; the initiative honors physicians focused on innovative teaching methods. His philanthropy extends to oncology and regenerative medicine networks, with joint donations alongside his brother Ronald supporting national cell therapy initiatives. In 2025, Black provided $6 million to Université de Sherbrooke to develop high-level men's and women's hockey programs, enhancing student athletics and facilities. In art patronage, Black has supported cultural preservation efforts, including donations to the Montreal Museum in collaboration with Ronald Black, aiding exhibits and operations at the institution dedicated to education and artifacts. As a prominent collector of paintings and antiques, his market participation has indirectly bolstered auction houses and galleries, though specific art donations remain less documented than his health-focused giving. Black and his wife Véronique have served as patrons for charitable galas, such as Ometz's annual A Chance to Shine event, covering overhead costs from onward to ensure full proceeds benefited job-training programs for immigrants and at-risk youth.

Support for Economic and Cultural Initiatives

Herbert Black, alongside his brother , contributed to the Museum's major expansion project, which raised $87.5 million to enhance facilities for education and remembrance. Their support was recognized in the museum's fundraising documentation as part of broader donor efforts to sustain cultural preservation initiatives in . These donations align with Black's philanthropic pattern of funding institutions that promote historical and educational outreach, though specific amounts from Black were not publicly detailed in museum reports. No direct evidence links Black to targeted programs beyond his primary medical and educational gifts, such as those to McGill University's neurological facilities, which indirectly bolster research ecosystems but lack explicit focus.

Controversies and Workplace Issues

Safety Incidents at AIM Facilities

In 2021 and 2022, the American Iron & Metal (AIM) facility in , experienced two fatal workplace incidents involving workers handling materials. On November 24, 2021, Bruce Lagace, a 48-year-old contractor from Deschenes , suffered fatal blunt force injuries to the head, , and while unloading from a trailer. Lagace's door malfunctioned, prompting him to exit via the passenger side, climb between the and trailer, and enter the trailer interior, where he was struck by a crane operator using a attachment to clear materials; the operator was unaware of his presence. WorkSafeNB investigated the incident, and in 2023, AIM faced four charges under New Brunswick's Occupational Health and Safety Act for failing to ensure worker safety, to which the company initially pleaded not guilty. An in October 2023 heard evidence of nearly two dozen prior safety violations at the facility over two years, including inadequate training and hazard assessments. On June 30, 2022, Darrell Richards, a 60-year-old AIM employee, sustained severe leg lacerations while using a saw to cut into a pressurized roll, which decompressed explosively; he died the following day, July 1, from blood loss. WorkSafeNB issued a stop-work order on the machinery involved and launched an investigation, which revealed warnings about similar hazards had been shared internally from AIM's facility but not adequately acted upon in Saint John. In February 2024, AIM pleaded guilty to related Occupational Health and Safety Act violations, receiving a $100,000 fine and a requirement to fund a $107,000 safety ; a June 2024 coroner's into Richards' death produced four jury recommendations, including enhanced training on pressurized equipment and better hazard communication protocols. AIM president Herbert Black attributed both deaths to unavoidable , stating the company bore no responsibility and describing the events as "terrible misfortunes" that could not have been prevented despite existing procedures. Black emphasized AIM's overall record, noting only three fatalities across all operations in his 62 years with the company, and remarked, "I'm not God" and " in life," while committing to implement any WorkSafeNB recommendations without detailing specific measures. In September 2022, AIM also faced a separate charge for a violation at its Point Lepreau site, where an employee maneuvered a arm into overhead power lines, though no fatalities resulted.

Environmental and Regulatory Scrutiny

American Iron & Metal (AIM), under Herbert Black's leadership as president and CEO, has encountered regulatory actions and fines for environmental violations at its scrap metal processing facilities. In October 2024, an court convicted AIM of three offenses under the Act following 34 resident complaints about excessive and vibration from explosions at its Hamilton site between 2019 and 2021; the company was fined $85,000 plus a $21,250 victim fine surcharge and ordered to implement measures within one year. In New Brunswick, AIM's scrap yards in Moncton, Fredericton, and Saint John faced enforcement for exceeding National Fire Code limits on scrap pile heights, prompting a consent order in late 2023 that granted a one-month extension to comply by February 7, 2024; subsequent inspections confirmed adherence. Operations in Saint John have also drawn repeated complaints since at least 2018 regarding noise from shredders, dust emissions, and explosions from undetected hazardous materials like pressurized propane tanks, leading to temporary shutdowns and supplier penalty programs. Black has responded to such scrutiny by defending AIM's compliance efforts and, in prior instances, pursuing legal action against environmental advocacy groups alleging baseless interference with operations. These incidents reflect broader challenges in the scrap sector, where handling mixed metals often results in unintended environmental impacts despite regulatory mitigation requirements.

Responses to Criticisms and Defenses

Herbert Black, president of American Iron and Metal (AIM), responded to criticisms of workplace safety incidents at the company's Saint John facility by attributing the two worker deaths in to unavoidable and unforeseen circumstances, stating, " in life," and emphasizing that such events occur despite best efforts. In the 2021 incident, where a was killed by a crane attachment after exiting his vehicle, Black described it as "" by the victim, noting the crane operator "had no idea that anybody was in that trailer" and deeming prevention impossible. For the 2022 death of Richards during a roll cutting operation, caused by decompression leading to severe laceration, Black asserted, "I don’t see how it could have been prevented. I genuinely don’t." He further defended AIM's record by highlighting 62 years in business without prior fatalities until recently and rejecting personal omnipotence with, "I’m not God," while expressing openness to WorkSafeNB investigations and committing to implement any resulting recommendations. Regarding environmental and regulatory scrutiny, including complaints of , noise, and explosions from tanks in at the Saint John site, Black countered by accusing city officials and provincial authorities of opposition to industrial activity that generates employment, declaring, "You don’t want a scrapyard here. You don’t want action. You don’t want jobs." In a meeting, he criticized a prior shutdown ordered by Carr, which cost AIM over $1 million, and likened operational noise to a or to minimize perceived impact. Black noted company efforts to limit and explosions but cancelled planned expansions adding hundreds of jobs in response to ongoing complaints, conditioning resumption on explicit support from authorities. These positions have drawn further rebuke from local leaders, who described Black's comments as "unfortunate" and evasive of .

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