Insolvency & Restructuring
- Overview
- Who To Contact
- Representative Matters
- Recent Developments
Overview
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)
- Receiverships
- Secured lender representation – enforcement and recovery
- Monitor, receiver and trustee representation
- Liquidations
- 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
- Bondholders
- Landlords
- Court-appointed officers, including monitors, receivers and trustees
- Financial advisors
- Debtor-in-possession (DIP) lenders
- Liquidators
- Purchasers of distressed assets and businesses
- Investors
- Directors and officers
- Shareholders
- Employees
- Municipalities and other governmental and quasi-governmental bodies
Contacts
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BioFull bio
Robb’s decades of experience in financial services law give him a deep understanding of his clients’ business needs.
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BioFull bio
Steve’s practice has been built on his ability to think clearly in a crisis and communicate effectively with clients.
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BioFull bio
As a corporate solicitor and litigator, Ian has the expertise required to guide his clients through all aspects of a restructuring file.
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BioFull bio
Sanjeev offers depth of experience and expert advice on highly complex insolvency law matters.
Group Members
Representative Matters
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Tokyo Smoke Enters CCAA Restructuring Amid Financial Challenges
On August 28, 2024, Tokyo Smoke initiated Companies' Creditors Arrangement Act proceedings to restructure due to financial difficulties. -
TD Bank Initiates Receivership for Buchh Holding Inc. and Affiliates
On July 31, 2024, Buchh Holding Inc. and its affiliates were placed into receivership following an application by TD Bank, which is owed $3.6 million. -
125 Ferris Inc. Files NOI Following Loss of Tenant
The filing came after its tenant, North Star Studios, suspended operations and Laurentian Bank formally demanded repayment of its loan. -
RBC Secures Receiver Appointment Amid Debtor’s Delays, Failure to Co-operate
Aird & Berlis successfully represented RBC in Royal Bank of Canada v. 2531961 Ontario Inc. et al., where the Court appointed a receiver over the Respondents’ assets due to repeated delays, lack of tra... -
Court Appoints Receiver for Trans Emerge Transport Inc. in Debt Case With RBC
On January 22, 2024, Trans Emerge Transport Inc. was placed into receivership by the Ontario Superior Court of Justice (Commercial List) due to $10.7 million in debt owed to the Royal Bank of Canada. -
Kaladar Gas Group Placed In Receivership on Application by Tandia Financial Credit Union Limited
On December 1, 2023, the Kaladar Gas Group was placed in receivership on application by Tandia Financial Credit Union Limited, which was owed approximately $12.8 million. BDO Canada Limited was named ... -
RBC Succeeds in Appointment of Receiver in Disputed Asset Transfer Case
On October 23, 2023, the Ontario Superior Court of Justice (Commercial List) appointed msi Spergel inc. as receiver over the assets, undertaking and properties of Express GT Parts Serve Inc. -
Metroland Media Group Seeks Bankruptcy Protection
On September 15, 2023, Metroland Media Group, an Ontario-based media corporation and the sister company of the Toronto Star, announced that it will restructure its operations and seek protection under... -
Stalking Horse Bid Entered As Datatax Business Services Limited Enters Sale Solicitation Process
On August 14, 2023, Datatax Business Services Limited, an income tax and accounting company based in Calgary, filed a Notice of Intention to Make a Proposal under subsection 50.4(1) of the Bankruptcy ... -
Ontario Superior Court of Justice Approves CannTrust’s CCAA Plan
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...
Recent Developments
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Firm News
Aird & Berlis Recognized in Inaugural Edition of Best Law Firms in Canada
Aird & Berlis is proud to be recognized in the inaugural edition of the Best Law Firms in Canada with 61 rankings across 41 practice areas. The firm received 18 national rankings and 43 regional ranki... -
Firm News
Aird & Berlis Named One of Canada’s Best Law Firms 2025 by The Globe and Mail
Aird & Berlis is pleased to announce its inclusion in The Globe and Mail’s Canada’s Best Law Firms 2025 list. For a fourth year, The Globe and Mail's Report on Business magazine partnered with Statist... -
Firm News
Aird & Berlis Recognized in Chambers Canada 2025
Aird & Berlis is pleased to announce its inclusion in the 2025 edition of the Chambers Canada Legal Guide. The firm was recognized as a leader across 12 different practice areas. 34 of the firm’s lawy... -
Article
It’s All Peakhill From Here: Appellate Confirmation of Courts’ Jurisdiction to Grant Reverse Vesting Orders in Receivership Proceedings
Peakhill marks the first opportunity for an appellate court to consider whether a court in a BIA receivership proceeding has the jurisdiction to grant an RVO solely for the purpose of achieving a tax ... -
Article
Bay Street Lawyers Beware: U.S. Court Finds Conflict of Interest Representing Debtor and One of Its Major Shareholders in Bankruptcy Proceedings
A large international law firm was recently disqualified from representing Enviva Inc. in its bankruptcy due to a conflict with its representation of Enviva's private equity sponsor. -
A&B In the News
Distressed Real Estate Team Featured in Canadian Property Management Article
Highlights from a recent complimentary webinar were summarized in an article by Canadian Property Management titled “Defaulted Real Estate Loans on the Upswing.” -
Firm News
Aird & Berlis Recognized in 2024 Canadian Legal Lexpert Directory
The Canadian Legal Lexpert Directory has recognized 62 partners at the firm as leading lawyers across 37 different practice areas. Aird & Berlis was also recognized at the firm level across 16 differe... -
Firm News
Aird & Berlis Recognized in Chambers Global Guide 2024
Aird & Berlis has been recognized at the firm and individual levels in the 2024 edition of the Chambers Global Guide. The firm was recognized as a leader in the areas of Tax and Restructuring/Insolven... -
Firm News
Aird & Berlis Welcomes New Associates Adrienne Ho and Shaun F. Parsons
We are pleased to announce that Adrienne Ho and Shaun F. Parsons have joined the firm as associates in our Financial Services Group. -
Article
In re: The Hacienda Company, LLC – The Budding Change in U.S. Bankruptcy Law Starts to Flower
While gaining recognition of Canadian insolvency proceedings south of the border used to be wishful thinking for an insolvent Canadian entity having involvement in the cannabis industry, such proceedi... -
Firm News
Aird & Berlis Recognized in The Legal 500 Canada 2024
Aird & Berlis is proud to be recognized by The Legal 500 Canada as a leading firm across 12 different practice areas. -
Firm News
Aird & Berlis Named One of Canada’s Best Law Firms 2024 by The Globe and Mail
Aird & Berlis is pleased to announce its inclusion in The Globe and Mail’s Canada’s Best Law Firms 2024 list. For a third year, The Globe and Mail's Report on Business magazine partnered with Statista... -
Article
This Could Be ‘The One’: Considerations for When a Property Developer Faces Insolvency
On October 18, 2023, many were surprised to hear that The One, a monster development at 1 Bloor St. West in Toronto, had been placed into receivership. -
Article
Crypto-Collateral Disputes Within Receiverships: Do Bitcoin Mining Proceeds Fall Under Collateral Equipment Pledges?
A recent ruling from the British Columbia Supreme Court is a key Canadian determination on the extent to which security interests extend to bitcoin where it is mined using equipment pledged as collate... -
Firm News
Aird & Berlis Recognized in Chambers Canada 2024
Aird & Berlis is pleased to announce its inclusion in the 2024 edition of the Chambers Canada Legal Guide. The firm was recognized as a leader across eight different practice areas. 27 of the firm’s l... -
Article
BioSteel Files for Creditor Protection: Will the Budding Change in U.S. Bankruptcy Law Bloom?
A recent Canadian insolvency filing could provide insight into how U.S. courts will approach Chapter 15 applications from foreign cannabis-related entities.