Restructuring and insolvency in Canada

Lax O'Sullivan Lisus Gottlieb LLP

Acting for debtors, creditors, secured lenders, shareholders, regulators and bondholders, the team at boutique Lax O'Sullivan Lisus Gottlieb LLP supports commercial, real estate, telecoms, finance and energy clients involved in complex insolvency proceedings and restructurings. Practice head Matthew Gottlieb, lauded by one client as ‘always exceeding expectations’, is well-versed in corporate and commercial disputes, insolvency and restructuring, and fraud and securities litigation. Andrew Winton‘s broad litigation practice encompasses insolvency mandates and has additional focus on shareholder disputes.

Practice head(s):

Matthew Gottlieb


Other key lawyers:

Andrew Winton


Testimonials

‘It is evident that Matthew Gottlieb is business-minded. Rather than just focusing on the legal aspects of the case, he offers holistic advice. His level of expertise and creativity is a real value-add.’

‘Matthew Gottlieb took command over the legal matter from the outset. He is an excellent communicator and listener and always exceeds expectations. He is excellent at seeing the bigger picture.’

Key clients

FTI Consulting Canada


C&K Mortgage Services o/a Rescom Capital


Doreen Saskin


KSV Advisory


Alvarez & Marsal Canada


Grant Thornton


Laurentian University


sPay


Pace Savings & Credit Union


Mattamy (Downsview)


Jewish Foundation of Greater Toronto


2168587 Ontario


Diversified Royalty


Work highlights


  • Represented Mattamy (Downsview) Ontario in an arbitration and application to set aside an arbitral award in connection with the Urbancorp Group CCAA proceeding.
  • Advised Laurentian University in connection with its exit from CCAA protection and the Auditor-General of Ontario’s report into the circumstances leading up to the University’s insolvency.
  • Represented Pace Savings & Credit Union Limited in a complex representative claim proceeding in two CCAA insolvencies.

Lenczner Slaght

The team at Lenczner Slaght acts for creditors, debtors, monitors and receivers in insolvency and restructuring litigation. The group’s expertise also spans creditors’ rights, enforcement in secured transactions and receiverships. The practice is jointly led by a Toronto-based duo. Monique Jilesen routinely acts for creditors and receivers in multi-party restructuring and insolvency proceedings; Matthew Lerner leads alongside her and often acts for court-appointed officers and secured creditors.

Practice head(s):

Matthew Lerner; Monique Jilesen


Key clients

The Board of Governors of Laurentian University


G2S2 Capital


Canopy Growth Corporation


Carillion


Michael Newman


Ernst & Young


Zurich Insurance Company re: Bondfield Construction


Grant Thornton


Stateview Homes


The Milky Whey


Trevor Fencott


Blake, Cassels & Graydon LLP

The department at Blake, Cassels & Graydon LLP assists both debtors and lenders with restructuring and insolvency matters, and has particular sectoral expertise in mining, real estate, energy, cannabis and retail. Pamela Huff heads up the national group from Toronto and is knowledgeable in all aspects of insolvency. In Vancouver, Peter Rubin co-leads and majors on supporting debtor companies, lending syndicates and secured and unsecured creditors with insolvency mandates. Calgary head Kelly Bourassa leads significant restructuring mandates, both domestic and cross-border, and has particular expertise in the energy segment. In Montreal, Bernard Boucher is charged with managing the practice and has experience appearing before the Superior Court, the Quebec Court of Appeal and the Supreme Court of Canada. Toronto-based partners Linc Rogers and Chris Burr, as well as associate Caitlin McIntyre, are additional key contacts.

Practice head(s):

Pamela Huff; Peter Rubin; Kelly Bourassa; Bernard Boucher


Other key lawyers:

Linc Rogers; Chris Burr; Caitlin McIntyre


Key clients

Deloitte Restructuring


Royal Bank of Canada


FTI Consulting Canada


Investissement Quebec


Trevali Mining Corporation


LTL Management LLC


Romspen Investment Corporation


Flower One Holdings


Alvarez & Marsal


KSV Restructuring


Work highlights


  • Advised the court-appointed monitor in the insolvency proceedings of JTI-Macdonald.
  • Advised LTL Management LLC on its cross-border recognition proceedings.
  • Acted for Trevali Mining, a public mining company with active mining operations in Canada, Namibia and Burkina Faso, in connection with its CCAA proceedings.

Goodmans LLP

Goodmans LLP's Toronto-based group is regularly sought-out for its skilful handling of restructuring mandates across Canada. Strategic planning, guidance on CCAA, CBCA restructuring matters and recapitalization mandates are core areas of expertise. Practice co-head Joseph Pasquariello is experienced in both representing clients in bankruptcy and insolvency-related litigation, and assisting debtors, creditors, monitors, receivers and trustees in non-contentious matters. Alongside him, Brendan O’Neill is well-versed in leading domestic and cross-border corporate restructurings. Robert Chadwick is active on corporate, M&A and restructuring mandates. Key associate Andrew Harmes supports the partners across the range of insolvency matters. The team’s associate ranks were strengthened with the arrival of Erik Axell in September 2022.

Practice head(s):

Joseph Pasquariello; Brendan O’Neill


Other key lawyers:

Robert Chadwick; Andrew Harmes


Testimonials

‘Goodmans has one of the deepest insolvency practices in the country. They have a strong bench which allows for them to put forward excellent professionals for each mandate. They collaborate well with other areas of their firm when issues come up in areas such as real estate, technology and patents.’

‘Robert Chadwick and Brendan O’Neill have an excellent understanding of both the technical and commercial sides of bankruptcy and insolvency in Canada. They are easy to work with, collaborative, and well-known in the Canadian business community.’

Key clients

Spectacle BidCo Holdings (Cirque du Soleil)


The Washington Group of Companies


Sherritt International


Bellatrix Exploration


Alvarez & Marsal Canada


Ad Hoc Committee of Noteholders of Crystallex International


Ernst & Young


PricewaterhouseCoopers


Fairfax Financial Holdings


Brookfield


FTI Consulting


Province of Ontario


KSV Advisory


Cineplex


Endo Pharmaceuticals


IAMGOLD


BlackRock Metals


KPMG


Deloitte


Ad Hoc Committee of BrandCo Lenders of Revlon


Silverpeak


Bridging Finance


Wells Fargo Bank, National Association, and Wells Fargo Commercial Finance Canada


Work highlights


  • Advised oil and gas company Bellatrix on its comprehensive restructuring, which included a CBCA recapitalization transaction.
  • Advised the ad hoc committee of lenders of Cirque du Soleil on the successful $1.2bn reverse vesting credit bid transaction and $375m financing pursuant to CCAA and Chapter 15 proceedings.
  • Advised Alvarez & Marsal Canada, Court-appointed monitor of Nordstrom Canada, on the latter’s CCAA proceedings.

Osler, Hoskin & Harcourt LLP

Osler, Hoskin & Harcourt LLP‘s team offers expertise on domestic and cross-border corporate restructurings and insolvency matters, for which it is often instructed by multinationals, court-appointed officers and regulators. The group offers additional support on M&A, securitizations, derivatives and credit matters. Toronto-based practice head Marc Wasserman dedicates his time to corporate recapitalizations, reorganizations and restructurings, often on the side of debtor corporations. Key department figure Tracy Sandler has over three decades experience in the restructuring space; Michael De Lellis and Sandra Abitan in Montreal are other key figures. Mary Buttery KC in Vancouver joined the partnership from Cassels Brock & Blackwell LLP in September 2022. Unless noted, all lawyers work in the Toronto office.

Practice head(s):

Marc Wasserman


Other key lawyers:

Tracy Sandler; Michael De Lellis; Sandra Abitan


Key clients

Just Energy Group


BlackRock Financial Management


Imperial Tobacco Canada


HPS


Alvarez & Marsal


FTI Consulting


Ernst & Young


KPMG


Deloitte


PricewaterhouseCoopers


TPG Global


BMO


Credit Suisse


White Oak Commercial Finance


Bank of Nova Scotia


GSO Capital Partners


Apollo Global Management


Ares Management


Elliott Management


The Carlyle Group


HPS Investment Partners


GoldenTree Asset Management


Bain Capital


Fidelity Investments


Bybrook Capital


MFS Investment Management


DoubleLine Capital


Pacific Investment Management Company (PIMCO)


Barings


Alcentra


Brigade Capital Management


Third Point


AIG Investments


PennantPark Investments


Marathon Investments


Capital Recovery Group (CRG)


Revlon


Bennett Jones LLP

The group at Bennett Jones LLP advises clients on the gamut of restructuring and insolvency matters, regularly acting on behalf of creditors, debtors, and court-appointed monitors. Working closely with colleagues in the firm’s litigation, corporate and M&A practices, the lawyers demonstrate sectoral expertise in energy, oil and gas, healthcare, construction and cannabis. The practice is led by Toronto-based Kevin Zych, who majors on private loan workouts and judicially supervised restructurings under the CCAA. Partner Sean Zweig and Kelsey Meyer additional key contacts. Ex-practice head Christopher Simard was appointed a Justice of the Court of King’s Bench of Alberta, effective June 2023.

Practice head(s):

Kevin Zych


Other key lawyers:

Sean Zweig; Kelsey Meyer


Key clients

Alvarez & Marsal Canada


Bridging Finance Investors Capital Bridging Investors


Bybrook Capital


Concord Pacific Developments


Cresco Labs


Detroit Windsor Tunnel


Durum Capital


Ernst & Young


FIGR Group


Freshlocal Solutions


FTI Consulting Canada


Glenogle Energy


Grant Thornton


KSV Restructuring


MPX International


PharmHouse


Port Capital Group


PricewaterhouseCoopers


Pyxus International


Ridley Terminals


Solus Alternative Investments


SHP Capital, Apogee Pharmaceuticals


Stone Investment Group


Stoneway Capital


Syncora Guarantee


The Provinces of Canada (British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and the Territories of Nunavut, Northwest Territories and Yukon)


Third Eye Capital


Trez Capital


XDI Energy Solutions


Work highlights


  • Acted as representative counsel for the investors in funds managed by Bridging Finance, assisting PricewaterhouseCoopers with all aspects of receivership proceedings.
  • Acted for FTI Consulting Canada, which was appointed as the Receiver of CUDA Energy and affiliates.
  • Acted for a group of energy services companies (the Balanced Energy group) and the entity they formed, XDI, to complete a management-led reverse vesting order (RVO) transaction in the cross-border receivership.

Fasken

The ‘exceptional team’ at Fasken assists distressed debtors in out-of-court workouts and in-court restructurings, in addition to supporting lenders and trustees. The group’s sectoral expertise covers financial services, retail, life sciences and tech, among others. Insolvency specialist Stuart Brotman steers the national team from Toronto. In Vancouver, partner Kibben Jackson is active on cross-border insolvency matters. Over in Montreal, Alain Riendeau is lauded by one client as ‘the best insolvency and restructuring lawyer in town’. Additional key contacts at the Montreal office include litigator Brandon Farber and ‘bright and up-and-coming’ associate Éliane Dupéré-Tremblay.

Practice head(s):

Stuart Brotman


Other key lawyers:

Kibben Jackson; Alain Riendeau; Brandon Farber; Éliane Dupéré-Tremblay


Testimonials

‘Exceptional team at all levels – the lawyers work well with the firm’s other groups, such as real estate and corporate. Very easy to work with, they get the job done – highly client and results-oriented.’

‘Alain Riendeau is the best insolvency and restructuring lawyer in town – technically strong, very efficient in court, business savvy. Brandon Farber is one of the strongest lawyers in his field: hard-working, fully bilingual, results-oriented. Eliane Dupéré-Tremblay: bright and up-and-coming lawyer in her field. Hardworking, technically strong, client-oriented.’

Key clients

PricewaterhouseCoopers


Voyager Digital (Canada)


The Bank of Nova Scotia


Raymond Chabot / Grant Thornton


The Bowra Group


Alvarez & Marsal Canada


iS5 Communications


CIBC


MNP


Bank of Montreal


Investissement Québec


Laboratoires Bodycad


Plus Products


Ernst & Young


Financial Services Regulatory Authority of Ontario


The Toronto-Dominion Bank


HSBC Bank Canada


KSV Advisory


Royal Bank of Canada


Work highlights


  • Acted as Canadian counsel to Voyager Digital in connection with the recognition in Canada under the Companies’ Creditors Arrangement Act of its Chapter 11 proceedings and ultimately confirmation of its Chapter 11 plan.
  • Acting for the court-appointed monitor in Groupe Sélection’s CCAA proceeding involving over C$272m in debt.
  • Acted for a syndicate of domestic and foreign first lien lenders (led by Scotiabank) owed in excess of $100m by Trevali Resources, a publicly listed mining company with assets in Canada, Namibia and Burkina Faso.

McCarthy Tétrault

McCarthy Tétrault‘s group handles both domestic and cross-border restructurings, work-outs and insolvencies. The team regularly represent debtors, major financial institutions and other capital providers, large corporate creditors and court-appointed monitors, receivers and trustees. In Toronto, practice head James Gage focuses on advising debtors, creditors, investors and court officers in work-out, restructuring and insolvency proceedings. Partner Sean Collins in Calgary majors on out-of-court and court-supervised restructurings, while Heather Meredith (also Toronto) covers commercial insolvency, restructuring and bankruptcy mandates, as well as related litigation. Lance Williams is a key contact at the Vancouver office. Other key figures include Alain Tardif and Jocelyn Perreault in Montreal.

Practice head(s):

James Gage


Key clients

Ayal Capital Advisors Fund


CannTrust Holdings


Deloitte Restructuring


Ébénisterie St-Urbain and Woodlore International


Endoceutics


Ernst & Young


Forage Capital Partners


Glencore International


Great Panther Mining


Immunovaccine Technologies


National Bank of Canada (Just Energy)


National Bank of Canada (Solution Highpoint)


Northern Pulp Nova Scotia


PricewaterhouseCoopers Inc. (Cresford)


PricewaterhouseCoopers Inc. (Flower One)


Rothmans, Benson & Hedges


SNDL


Norton Rose Fulbright

The group at Norton Rose Fulbright specializes in handling the restructurings and insolvencies of energy, finance, retail, real estate and forestry companies, regularly assisting lenders, noteholders, hedge funds, bondholders trustees and monitors. Montreal managing partner Luc Morin heads up the national restructuring department, and has experience in complex restructuring and liquidation proceedings, notices of intention, reverse vesting orders and bridge financings. Additional key partners include Howard A. Gorman KC in Calgary and Evan Cobb in Toronto.

Practice head(s):

Luc Morin


Other key lawyers:

Howard A. Gorman KC; Evan Cobb


Testimonials

‘Extremely knowledgeable and efficient team of experts in all areas of insolvency, restructuring and banking law. The lawyers work very collaboratively as a cohesive team, and are always available to answer questions and provide support.’

‘Excellent level of knowledge and business sense. The lawyers are able to dissect complex problems and issues into explanations that all individuals can understand. They provide excellent support to lenders and provide regular updates and agendas.

‘Norton Rose Fulbright has national (and international) reach but is still able to cost effectively manage larger files. The group has the necessary technical capabilities to address any legal issues that might arise.’

‘Norton Rose’s team is very diverse and able to bring the required experts to the table in every situation.’

‘The lawyers at Norton Rose are extremely knowledgeable, forthright and proper advocates for their client, whether for the debtor company, the creditor, receiver or trustee.’

Key clients

MidCap Financial


National Bank of Canada


Shell Energy North America (Canada)


Shell Energy North America (US)


Investissement Québec


FTI Consulting Canada


JPMorgan Chase Bank


Stateview Homes


Export Development Canada


Zenabis Global


Bank of America


Special Committee of the Board of Directors


Sierra Metals


Alvarez and Marsal Canada


Ernst & Young


Santé BB


Couche-Tard


ATB Financial


CIBC


Work highlights


  • Advising MidCap Financial in connection with the Chapter 11 proceedings of Revlon.
  • Assisted the National Bank of Canada with Groupe Sélection’s proposed restructuring process under the CCAA.
  • Acted for Shell in the CCAA proceedings of the Just Energy group of companies.

Stikeman Elliott LLP

The department at Stikeman Elliott LLP routinely handles restructuring proceedings across Canada, and acts for companies, court officers, lenders and purchasers of assets in insolvency proceedings. The group’s cross-border know-how covers both Chapter 11 and Chapter 15 proceedings. A trio of partners co-heads the group: Elizabeth Pillon in Toronto; Guy Martel in Montreal, whose practice has a strong focus on cross-border and international transactions; and Calgary-based senior counsel Karen Fellowes KC, who heads the Western Canada restructuring group. Also in Toronto, senior counsel and litigator David Byers brings strength to insolvency and insurance matters, and Lee Nicholson was promoted to partner in January 2023.

Practice head(s):

Elizabeth Pillon; Guy Martel; Karen Fellowes KC


Other key lawyers:

David Byers; Lee Nicholson


Key clients

Air Canada


Deloitte


Deutsche Bank


Ernst & Young


Fresh Food


FTI Consulting


KPMG


Alvarez & Marsal Holdings


Catalyst Paper Corporation


Wells Fargo


Torys

The group at Torys frequently acts on the side of the main debtor, court officer, principal creditor and purchaser in insolvency mandates. David Bish and Tony Demarinis co-lead the practice from Toronto. Bish focuses on plenary and ancillary cross-border insolvency and restructuring matters, routinely advising clients in distressed circumstances. DeMarinis majors on negotiated workouts, recapitalizations, debt exchanges, refinancings and CCAA proceedings. Scott Bomhof brings over two decades of restructuring experience to the table and has particular strength assisting clients in the real estate, construction and life science sectors. Adam Slavens displays strength in such sectors as sports, cannabis and biotech. All lawyers mentioned work in Toronto.

Practice head(s):

David Bish; Tony Demarinis


Other key lawyers:

Scott Bomhof; Adam Slavens


Testimonials

‘Torys has a great presence across Canada and always brings the right amount of experience and talent to all engagements. You know when you engage Torys that you will get an A-team in terms of effort and results.’

Key clients

JT Canada LLC


Ernst & Young


Sheldon Libfeld and Jay Libfeld, co-owners of The Conservatory Group


Mallinckrodt Pharmaceuticals


Sagard Holdings and PIMCO


Orion Mine Finance


Arctic Canadian Diamond Company


LifeWorks


Calpine


KSV Kofman


DDJ Capital Management, Brigade Capital Management, Western Asset Management Company


Medical Pharmacies Group


PricewaterhouseCoopers


Tarion Warranty


FTI Consulting Canada


The Cadillac Fairview Corporation


Enforcement Committee of the Debenture Holders of CIM International Group


KPMG


Board of Directors of Great Panther Mining


Work highlights


  • Advised Bank of Montreal on its acquisition of the AIR MILES Reward business of LoyaltyOne as part of its restructuring proceedings under the Companies’ Creditors Arrangement Act.
  • Advised Ernst & Young in its capacity as the Court-appointed Information Officer in the Part IIV CCAA Recognition Proceedings of Purdue Pharma.
  • Advised Sheldon Libfeld and Jay Libfeld, co-owners of The Conservatory Group, on the restructuring of a multi-billion-dollar private real estate empire embroiled in a family ownership dispute.

Borden Ladner Gervais LLP

Borden Ladner Gervais LLP's practice is frequently called upon by senior secured lenders, insolvency professionals acting as monitors and court-appointed receivers, private equity funds, as well as debtors, for its restructuring expertise. Additional expertise lies in acting for DIP lenders, court officers and prospective purchasers regarding cross-border proceedings including Chapter 11. Toronto-based practice head Alex MacFarlane has particular experience acting for distressed finance, cannabis and retail sector clients, while senior counsel Marc Duchesne co-leads in Montreal and works primarily on the debtor side.

Practice head(s):

Alex MacFarlane; Marc Duchesne


Testimonials

‘Content expertise, reliable, available at short notice, good collaborators.’

‘Alex MacFarlane is great in the area of insolvency.’

Key clients

Bank of Montréal


The Bank of Nova Scotia


The Toronto-Dominion Bank


Export Development Canada


National Bank of Canada


Azoxco Cryogénique


Northern Ontario School of Medicine


MNP


Purdue Pharma


Aviva


Fuller Landau


Armstrong Flooring Canada


Ernst & Young


Deloitte Restructuring


PaySlate


PricewaterhouseCoopers


BDO Canada


Romspen Investment


Cassels Brock & Blackwell LLP

The group at Cassels Brock & Blackwell LLP handles domestic and international restructurings and liquidations and has particular experience advising clients with assets in Africa and Latin America. Toronto-based insolvency specialist Jane Dietrich steers the practice and specializes in restructurings and related litigation, as well as corporate reorganizations, enforcement of security and unsecured creditor remedies. Partners Ryan Jacobs, Shayne Kukulowicz and Alan Merskey are additional key contacts. Mary Buttery KC left the firm in September 2022.

Practice head(s):

Jane Dietrich


Other key lawyers:

Ryan Jacobs; Shayne Kukulowicz; Alan Merskey


Key clients

Alvarez & Marsal Canada


Ad Hoc Committee of Debenture Holders of iAnthus Capital Management


Official Committee of Opioid Related Claimants of Mallinckrodt


Ernst & Young


FTI Consulting Canada


Blackstone Alternative Credit Advisors


Official Committee of Unsecured Creditors of Voyager Digital Holdings


Steering Committee of Pre-Sale Purchasers of Hazelton Development Corporation


Pandion Mine Finance Fund, Rivermet Resource Capital, and PFL Raahe Holdings


Tenor Special Situation I


Timbercreek Asset Management


Superette, Superette Ontario


Deloitte Restructuring


KSV Restructuring; Nilex


DIP Lenders to Just Energy Group


Sungard Availability Services (Canada)


Davies Ward Phillips & Vineberg LLP

The group at Davies Ward Phillips & Vineberg LLP handles the gamut of restructuring and insolvency matters and is frequently active in the restructurings of companies in the real estate, retail, financial services and energy segments. The practice is jointly led by Toronto-based partners Robin Schwill and Natasha MacParland, as well as Denis Ferland and Christian LaChance, who co-head the team from Montreal. The key associate-level contact is Benjamin Jarvis, also in Montreal.

Practice head(s):

Robin Schwill; Natasha MacParland; Denis Ferland; Christian LaChance


Other key lawyers:

Benjamin Jarvis


Testimonials

‘Davies brings excellent restructuring capabilities in both Montreal and Toronto.’

‘The insolvency group is practical and respected in the restructuring community.’

‘Robin Schwill is experienced and practical.’

Key clients

Canadian Bankers’ Association


Electric Reliability Council of Texas


KSV Restructuring


Alvarez & Marsal Canada


Laurentian University of Sudbury


PwC


EY


Habitations Trigone


FTI Consulting


Fulcrum Capital Partners


Work highlights


  • Acted for Revera Fédération des Caisses Desjardins du Québec, Fonds de Solidarité FTQ, and The Blackstone Group and SmartCentres REIT in connection with Groupe Sélection’s and contentious restructuring proceedings under the Companies’ Creditors Arrangement Act.
  • Acted for The Aldo Group in its restructuring attempt under the Companies’ Creditors Arrangement Act.
  • Acted for FTI Consulting Canada in its capacity as court-appointed monitor of Imperial Tobacco Canada in proceedings under the Companies’ Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy Code.

Gowling WLG

The group at Gowling WLG specializes in multi-jurisdictional and cross-border restructuring and insolvency matters, and is routinely instructed by debtors, creditors and court appointed officers. Geneviève Cloutier leads the practice from Montreal and focuses on insolvency and restructuring, distressed acquisitions, and banking and commercial litigation matters. National distressed M&A department practice head David Cohen, of the Toronto office, is also active on domestic and cross-border restructuring and insolvency mandates.

Practice head(s):

Geneviève Cloutier


Other key lawyers:

David Cohen


Testimonials

‘Strong and broad legal knowledge and experience, combined with a pragmatic, business-oriented approach to their advisory role.’

Key clients

Ernst & Young


Callidus Capital


Fiera Capital Corporation/Briva Finance


FTI Consulting Canada


Budden & Associates


Ontario Auditor General


Quebec Loisir


MNP


GNCR


NextEra Energy Marketing Services


Miniso BF Holding


Deloitte Restructuring


Export Development Canada


Structurlam Mass Timber


Caisse Desjardins Ontario Credit Union


Work highlights


  • Represented EY as monitor in the wind-up and realization on complex real property and resource assets in Northern Ontario.
  • Acted as counsel for Callidus Capital Corporation, in its capacity as senior lender, and other related entities, against a claim made by Bluberi in the aggregate amount of $220m.
  • Assisted Fiera Capital Corporation/Briva Finance with Groupe Selection’s insolvency proceedings.

Aird & Berlis LLP

The group at Aird & Berlis LLP is well-versed in out-of-court restructurings, the structuring and implementation of debt workout arrangements for lenders, the purchase and sale of distressed businesses and assets, as well as assisting regulatory bodies with investigations. The practice is co-directed by Toronto-based partners Steven Graff and Ian Aversa. Younger partner Kyle Plunkett, praised by one client as ‘practical, efficient and responsive’, is an additional key contact.

Practice head(s):

Steven Graff; Ian Aversa


Other key lawyers:

Kyle Plunkett


Testimonials

‘The firm focuses on achieving client objectives, looking for practical and creative legal solutions to the issues at hand. Files are resourced appropriately for the midmarket without overburdening the file with an army of lawyers.’

‘Steven Graff and Kyle Plunkett are always available when needed and appropriately manage expectations to ensure excellent client delivery.’

‘Ian Aversa is practical, efficient and responsive. He pays particular attention to the economic realities of a file.’

Key clients

KSV Advisory


Redemption Claimants in the matter of Ontario Securities Commission v. Bridging Finance


Ad-hoc committee of equity holders in Voyager Digital


Crown Capital Partners


Ernst & Young


Disney


MNP


Alvarez & Marsal Canada


Grant Thornton


BDO Canada


Concord Adex


Richter Advisory Group


Work highlights


  • Represented the Redemption Claimants in the matter of Ontario Securities Commission v. Bridging Finance.

Dentons

Fielding offices in Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal, the national restructuring group at Dentons is well-versed in cross-border insolvency matters, in addition to representing clients before the Supreme Court of Canada. The department’s sectoral expertise spans energy, mining, retail, pension plans, natural resources and real estate restructuring, while clients include secured and unsecured creditors, trustees, and consulting firms. Robert Kennedy heads the Toronto team. Vancouver office managing partner John Sandrelli is another key contact. Former co-practice head David W Mann  departed the firm in October 2023.

Practice head(s):

Robert Kennedy


Key clients

Alvarez & Marsal


BP Energy


Wilmington Trust, National Association – Calfrac


Farber


Deloitte Restructuring


Clover Condo


SunTrust


PwC – Clover Calgary


BDO Canada


Deloitte – Express Gold


Wilmington Trust re: Dominion Diamond Mines


Laurentian Bank of Canada


Connect First Credit Union


Work highlights


  • Counsel for Alvarez and Marsal Canada in its capacity as the Receiver of 55 large real estate properties formerly owned by Strategic Group, pursuant to the Companies’ Creditors Arrangement Act.
  • Acted for BP Energy to negotiate an ongoing post-filing supply agreement where BP was owed approximately $230m from the insolvency of Just Energy.
  • Acted for Deloitte Restructuring in its capacity as Monitor in the CCAA proceedings of Express Gold Refining.

DLA Piper (Canada) LLP

DLA Piper (Canada) LLP's practice is active in the restructurings of companies in the mining, cannabis and retail sectors. Following the retirement of ex-practice head Brian Davison in June 2022, two partners direct the group: corporate restructuring specialist Colin Brousson leads from Vancouver, while alongside him the Toronto-based Edmond Lamek brings over 25 years’ experience to the table and has particular strength in assisting financial institutions and other secured and unsecured creditors in insolvency proceedings.

Practice head(s):

Colin Brousson; Edmond Lamek


Key clients

Abbey Resources Corp


KSV Restructuring


Intercap Equity


The Bowra Group (recently merged with MNP Ltd.)


Clearford Water Systems


Morebath Limited


HSBC UK and Middle East


RioCan REIT


The Royal Bank


Great American Capital Partners


Lightstream Resources


Zeifman Partners


BDO


Work highlights


  • Assisted Sprott Resource Lending with the CCAA filing of Pure Gold.
  • Acted for Ernst & Young as the Court appointed monitor in the Companies’ Creditors ‎Arrangement Act proceedings of companies owned by Choom Holdings.
  • Acted for Morebath Limited, the senior secured creditors of Clearford Waters Systems, in a proposal to creditors made under Part III of the Bankruptcy and Insolvency Act.