Representative Matters
Lending Matters:
Acts on a regular basis for Schedule I banks and asset-based lenders with respect to their secured lending facilities.
Acts on a regular basis for lenders who finance and/or purchase loan receivables and related assets. Prepared receivable purchase agreements and assignments to deal with the transfer of the assets, and/or negotiated secured loan agreements to finance such purchases.
Acted for The Toronto-Dominion Bank in its capacity as Administrative Agent, Joint-Arrangers, Joint-Bookrunner and a lender in connection with syndicated credit facilities established in favour of Sangoma Technologies Inc. and Sangoma U.S. Inc. (the “borrowers”) in the total amount of $64 million to support the borrowers’ working capital requirements and acquisition of a U.S. target.
Represented Baylin Technologies Inc. (TSX:BYL), a diversified leading global wireless technology management company, in the completion of a $40.25 million bought deal public offering of subscription receipts and 6.5% extendible convertible unsecured debentures and the related acquisition of Alga Microwave Inc.
Represented Baylin Technologies Inc. in an acquisition of assets from the radio frequency and microwave divisions of Advantech Wireless Inc. and certain of its affiliates.
Acted for an entity who purchased a portfolio of receivables and related assets under a private-label credit card program established with a Canadian chartered bank. Prepared receivable purchase agreements and assignments to deal with the transfer of the assets, and negotiated a secured loan agreement to finance the purchase.
Insolvency Matters:
Counsel to Alvarez & Marsal Canada Inc. in its capacity as the court-appointed receiver of Sameh Sadek (aka Sam Sadek), St. Maharial Pharmacy Inc. dba MD Health Pharmacy, St. Maharial Clinic Inc., SRX Investment Inc., Shepherd RX Pharmacy Inc. and Lilian Fam. The Receiver was appointed on a motion by AstraZeneca Canada Inc. pursuant to the Ontario Courts of Justice Act in connection with an alleged multi-million dollar fraud involving several large pharmaceutical companies.
Counsel to KSV Kofman Inc. in its capacity as the court-appointed receiver and manager of Xela Enterprises Ltd.
Counsel to Albert Gelman Inc. in its capacity as the court-appointed receiver of Noreast Foods Ltd.
Counsel to CAT Inc. in connection with its purchaser of certain assets of S.L.H. Transport Inc. in the insolvency proceedings commenced by Sears Canada Inc. et al. under the Companies’ Creditors Arrangement Act.
Counsel to BDO Canada Limited in its capacity as the court-appointed receiver of Astoria Organic Matters Ltd. and Astoria Organic Matters Canada LP.
Regularly acts as counsel to The Toronto-Dominion Bank as secured creditor in various receivership proceedings and/or workouts involving various borrowers.