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Insolvency & Restructuring

  • Overview
  • Who To Contact
  • Representative Matters
  • Recent Developments

When financial distress threatens stability, clients need more than legal advice—they need a team that understands the urgency, the business objectives and the state of the industry when making decisions or developing strategy. The Aird & Berlis Restructuring & Insolvency Group is among the largest in Canada, offering deep cross-border and cross-industry experience. Our work extends well beyond restructuring, encompassing all aspects of insolvency, enforcement, receiverships, liquidations, advisory work and dispute resolution.

Our lawyers have played a pivotal role in shaping Canadian insolvency law through precedent-setting matters that continue to influence the field. This depth of experience allows us to offer clear guidance in situations involving competing interests, legal uncertainty and commercial demands. We draw on specialized knowledge and the resources of a full-service firm to develop tailored solutions. Whether advising in the boardroom or advocating in court, we focus on strategy and execution to help clients preserve value and maximize recoveries.

Our practice covers the full breadth of insolvency services, including formal and informal restructuring proceedings, receiverships (court‑appointed and private), bankruptcies, enforcement matters, distressed transactions, creditor remedies, and regulatory investigations. We act for a full range of stakeholders – including Schedule I banks and other financial institutions, secured and unsecured creditors, court‑appointed officers, purchasers, landlords, investors, corporations and government bodies – and are relied on for both sophisticated advisory work and highly technical litigation support. Clients see us as a trusted extension of their management teams, relying on us for intelligent, commercial advice and pragmatic solutions. We also draw on our extensive industry relationships to connect clients with financing partners who can provide emergency funding or step in as replacement lenders when capital solutions are urgently needed.

The Restructuring & Insolvency Group is an integral part of the firm’s broader Financial Services practice, allowing us to provide well‑considered advice on every aspect of financial distress. This close collaboration ensures a unified approach to stabilizing distressed businesses, protecting stakeholder interests and navigating complex, multi‑party dynamics. Our strong connections with legal professionals across Canada and internationally enable us to confidently manage cross‑border matters and ensure clients’ interests are represented at every level.

Our group is consistently recognized by leading legal directories—including Chambers Canada, The Canadian Legal Lexpert Directory, The Legal 500 Canada and The Best Lawyers in Canada—for its work in insolvency and restructuring. Since 2019, four members of the team have been honoured as Lexpert Rising Stars: Leading Lawyers Under 40. These accolades reflect the strength of our group and its commitment to going above and beyond for our clients.

Our core services include:

  • Statutory proceedings: We advise on proceedings under the Companies' Creditors Arrangement Act (CCAA) and the Bankruptcy and Insolvency Act (BIA). Our work includes the Canadian recognition of international insolvency proceedings under the CCAA and other statutory regimes. We also support reorganizations under the Canada Business Corporations Act (CBCA) and the Ontario Business Corporations Act (OBCA).
  • Receiverships and liquidations: We act in court-appointed and private receiverships and manage the liquidation of businesses and assets. We represent monitors, receivers and trustees in a range of insolvency matters.
  • Bankruptcy and enforcement matters: Our team handles bankruptcy applications, proposals, enforcement strategies and priority disputes. We support trustees, creditors and other stakeholders in navigating the complexities of bankruptcies and related litigation.
  • Creditor and lender support: We assist secured and unsecured lenders with enforcement, remedies, recoveries, loan portfolio review and security analysis. We regularly advise on complex priority issues and intercreditor matters.
  • Debtor support and restructuring: We guide clients through corporate and commercial workouts, distressed operations, debtor-in-possession financing, powers of sale and mortgage remedies. We structure and implement debt workout arrangements tailored to each situation.
  • Distressed transactions: We advise on the purchase and sale of distressed businesses and assets, including transactions conducted through receivership, bankruptcy, CCAA proceedings and out‑of‑court processes.
  • Distressed real estate: We advise clients navigating distressed real estate matters, drawing on experience across multiple market cycles and economic conditions. Our team works across disciplines, collaborating with lawyers in real estate, financial services, tax, litigation and construction. We manage enforcement and restructuring proceedings involving powers of sale, foreclosures, receiverships, CCAA and BIA proceedings and informal workouts. We assist with construction liens, lease terminations, landlord distraint and the realisation of security for landlords and tenants. We act for secured real estate lenders, developers, project owners, construction companies, landlords and tenants, as well as court officers such as receivers, monitors and trustees. Our work spans single properties and large portfolios, including office buildings, hotels, resorts, shopping centres and residential developments.
  • Regulatory matters and specialized issues: We assist government and quasi‑government bodies with investigations, enforcement strategies and insolvency‑related regulatory issues.

We understand that financial distress demands more than legal knowledge, it requires clarity, urgency and sound judgment. Insolvency and restructuring is often considered a true blend of business and law, and a critical characteristic of being a good restructuring lawyer is the ability to recognize and implement practical, commercially viable solutions while maintaining a clear view of the bigger picture. Our team is equipped to respond quickly, adapt to shifting circumstances and guide clients through high-stakes decisions with confidence. Whether the matter involves a single transaction, a complex restructuring or a multi-jurisdictional engagement, we bring experience, insight and a steady hand to help clients move forward.

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Recent Developments

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