Insolvency & Restructuring
- Who To Contact
- Who We Help
- Representative Matters
- Recent Developments
The insolvency or restructuring of a business can create complex issues and competing agendas. With a broad range of experience, Aird & Berlis LLP’s Insolvency & Restructuring lawyers are able to recognize opportunities and negotiate solutions that maximize recoveries and minimize risk, time and expense.
Recognized as leaders in their field, our Insolvency & Restructuring lawyers draw on specialized experience and diverse expertise from other areas of the firm to develop effective strategies and successfully represent clients in both the boardroom and the courtroom. We are adept at navigating out-of-court restructurings, the purchase and sale of distressed businesses and assets, the structuring and implementation of debt workout arrangements for senior and subordinated lenders, borrowers and investors and assisting regulatory bodies with investigations and enforcement strategies.
We have extensive international experience and are able to leverage deep connections throughout Canada and the world to provide truly global advice. We have assisted with significant insolvency and restructuring mandates in the United States, the United Kingdom, Africa and the Caribbean.
As a valuable extension of their management teams, clients look to us for intelligent transactional advice, practical solutions and commitment to client satisfaction with a range of services, including:
- Proceedings under the Companies' Creditors Arrangement Act (CCAA)
- Proceedings under the Bankruptcy and Insolvency Act (BIA)
- Canadian recognition of international insolvency proceedings under the CCAA and other statutory regimes
- Reorganizations under the Canada Business Corporations Act (CBCA) and the Ontario Business Corporations Act (OBCA)
- Secured lender representation – enforcement and recovery
- Monitor, receiver and trustee representation
- Creditors’ rights and remedies
- Corporate and commercial workouts
- Priority disputes
- Governmental or quasi-governmental issues
- Power of sale and mortgage remedies
- Debtor-in-possession (DIP) financings
- Loan portfolio and security review, assessment and analysis
Who We Help
With in-depth knowledge and experience in insolvency and restructuring law, a proven track record in litigation, and a commitment to client satisfaction, we are regularly retained to advise and assist:
- Companies in financial distress
- Financial institutions
- Secured and unsecured creditors
- Court-appointed officers, including monitors, receivers and trustees
- Financial advisors
- Debtor-in-possession (DIP) lenders
- Purchasers of distressed assets and businesses
- Directors and officers
- Municipalities and other governmental and quasi-governmental bodies
On July 16, 2021, CannTrust announced that its plan of compromise, arrangement and reorganization was sanctioned by the Ontario Superior Court of Justice as part of CannTrust’s restructuring proceedin...
Microsoft Corporation reached a significant settlement with Nortel Networks Corporation after insolvency proceedings, which took over nine years. The Nortel proceedings, which involved the largest ins...
On behalf of the bank, Sanj Mitra and Alyssa Gebert successfully negotiated and completed the refinancing of the borrower.
The M&A Advisor recognized the management buyout of Thane International Inc. as the Consumer Discretionary Deal of the Year in the over $50 million to $100 million category as part of its 11th Ann...
Pacific West Commercial Corporation (Pacific West), an affiliate of Vancouver-based Stern Partners Inc. (Stern Partners), completed the acquisition of the business and assets of Comark Inc. (Comark), ...
News itemFirm NewsAird & Berlis is pleased to announce its inclusion in the 2023 edition of the Chambers Canada Legal Guide. The firm was recognized as a leader across seven different practice areas. Twenty of the firm...
News itemFirm NewsAird & Berlis is pleased to announce that the following members of the firm have been recognized as top practitioners in the 2022 edition of Chambers Canada: Canada’s Leading Lawyers for Business.
Check Your Numbers Twice: Receiver and Its Counsel Denied Their Inadvertently-Omitted Fees and DisbursementsIn what can only be described as a bitter pill to swallow for the professionals involved, the Ontario Superior Court of Justice in Duca Financial Services Credit Union Ltd. v. 2203284 Ontario Inc. ha...
News itemFirm NewsAird & Berlis partners Neil Bass, Steven Graff, Trent Horne and Steve Tenai are among the leading lawyers named in the Lexpert Special Edition: Litigation 2020.
News itemFirm NewsAird & Berlis is proud to announce that partner Kyle Plunkett has been recognized as a 2020 Lexpert Rising Star: Leading Lawyer Under 40.
Court of Appeal Upholds Termination Clause in RESOP Contract – Contract Terminated Automatically on Bankruptcy Does Not Violate Stay Provisions Under the Bankruptcy and Insolvency ActOn July 2, the Court of Appeal for Ontario released its decision in Hutchingame Growth Capital Corporation v. Independent Electricity System Operator. The Court held that a clause in a contract which ...
Court Permits Trustee to Access Bankrupt’s Premises and Assign a Lease Over Landlord’s Objection That the Premises Were Previously Surrendered by ReceiverOn June 18, 2020, the Ontario Superior Court of Justice released an endorsement in Cerberus Business Financial, LLC v. B & W Heat Treating Canada, ULC, holding that the Commercial Tenancies Act grants...
PublicationArticleOn May 8, the Supreme Court of Canada released its reasons for its January 23, 2020 unanimous decision in 9354-9186 Québec inc. v. Callidus Capital Corp. to allow the appeal of the decision of the Que...
PublicationArticleOn March 26, leave to appeal the decision of the Alberta Court of Appeal in Canada v. Canada North Group Inc. was granted by the Supreme Court of Canada. No reasons were given.
PublicationArticleThe global COVID-19 pandemic has resulted in widespread closures and suspension of operations, including within the justice system in Ontario. Ontario courts have issued a number of notices detailing ...