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ARTICLE · 25 JANUARY 2023

2023 Restructuring Trends: Déjà Vu All Over Again

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2022 was an unprecedented year in insolvency practice. For as long as anyone can remember, there have always been several large corporate insolvency filings with national...

CanadaInsolvency/Bankruptcy/Re-Structuring
David Bish
David Bish
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2022 was an unprecedented year in insolvency practice. For as long as anyone can remember, there have always been several large corporate insolvency filings with national scope in each calendar year that hits the front page of the papers. But in 2022, there wasn't even one.

That does not mean there wasn't significant activity in some quarters, but it was driven by older high-end files and mid-market work (or small business matters that don't qualify as mid-market). Files that commenced in 2021 like Bridging Finance, Just Energy, and Laurentian University continued to dominate activity levels. Even U.S. Steel (Stelco)—a 2014 CCAA filing—continued to be highly active in 2022 as the pension plans near full wind up and the sale of excess lands formerly owned by U.S. Steel continued. But where was all the new activity?

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