the leading lawyers and law rms in canada

Restructuring/Insolvency

The leading lawyers and law firms in Canada

chambers.com

401

Nationwide Restructuring/Insolvency

Band 1

Goodmans LLPWhat the team is known for Goodmans is a premier Toronto law firm recognised for its leading expertise in the restructuring and insolvency space across Canada. It repre-sents an impressive range of commercial clients, with notable experience advising bondholders and acting on large international insolvencies. The firm houses a distinguished bench of lawyers who offer deep and broad expertise to both debtors and creditors, as well as notable skill advising on matters arising within regulated industries, including telecoms, energy and resources. The restruc-turing and insolvency team also assists cli-ents engaged in the real estate, retail and

manufacturing sectors. The Goodmans group is active in restructurings under both the CCAA and CBCA.Strengths One interviewee reported: “I chose to work with them because of their expertise in Canadian restructurings and their practical, hands-on approach,” further praising the team as “very knowledgeable, business-minded and commercial.”“They were extremely knowledgeable of the restructuring world and very cooperative,” commented one source.Work highlights A Goodmans team led by partners Joseph Pasquariello and Chris Armstrong advised the ad hoc committee of lenders to Cirque du Soleil on the company’s CCAA insolvency filing before the Québec Superior Court.Notable practitionersToronto-based Gale Rubenstein is a sea-soned restructuring and insolvency lawyer with vast experience handling matters in this field. “She’s an incredible lawyer; I’ve got a lot of respect for her.” Robert Chadwick is deeply experienced assisting clients with recapital-isation transactions, strategic reviews and CCAA proceedings. He is based in Toronto. “He’s one of the leaders in this practice area and a very formidable lawyer.” “He’s out-standing: respected in Canada, knows the law and is commercial.” Brendan O’Neill is held in high regard for his expert representation of court-appointed monitors in CCAA pro-ceedings, and also acts for sponsor funds in recapitalisation transactions. He is based in Toronto. “Brendan O’Neill is efficient, smart and diligent.” “He has a lot of experience. He’s a very creative lawyer with a good following.” Joe Latham is a veteran Toronto lawyer who frequently acts as counsel to court-ap-pointed monitors. He also has experience acting for debtor-in-possession lenders on CCAA-related matters. “Joe is a very careful and detailed lawyer. He knows the litigation aspects of restructuring and the technical issues. He’s very helpful and an excellent tech-nical lawyer.” Head of Goodmans’ corporate restructuring group Joseph Pasquariello frequently advises monitors and special man-

agers in CCAA proceedings. Based in Toronto, he has notable experience relating to some of the most significant matters in the Canadian market. “He is a very strong attorney who has good technical legal skills and strong business acumen.” Chris Armstrong is a well-regarded practitioner in the restructuring field, with experience advising debtor companies under-going CCAA proceedings, as well as note-holders, trustees and loan agents. He is based in Toronto. “Chris Armstrong is definitely a very good insolvency lawyer.” “He is very focused on client objectives.” Toronto-based Brian Empey frequently handles bankruptcy and liquida-tion mandates. He also has notable expertise in structured finance and derivatives. Caro-line Descours is based in Toronto, where she regularly assists with CBCA proceedings and refinancing transactions. “Caroline Descours is smart and efficient.”

Osler, Hoskin & Harcourt LLPWhat the team is known for Osler, Hoskin & Harcourt operates an outstanding restruc-turing and insolvency practice and is recog-nised for its consummate ability to manage a wide variety of complex restructuring and insolvency mandates on behalf of an impres-sive portfolio of financial advisers, private equity firms and major hedge funds. The group offers strong coverage across Canada with highly praised restructuring and insol-vency lawyers in its Calgary, Montréal and Toronto offices. It also has an impressive track record acting for debtors and court-appointed monitors on CCAA filings, and is active on both high-end and mid-market transactions. The team has notable experience acting for lenders on high-profile insolvency proceed-ings, as well as handling bondholder man-dates and retail insolvency matters.Strengths “The team’s strengths are many: they are highly responsive, highly knowledge-able about retail restructurings, have the ability to seamlessly bring different practice area expertise together and follow a busi-ness-minded approach to problem solving,” enthused one interviewee.Another source added: “The advice we got was

* Indicates firm with profile.

Alphabetical within each band. Band 1 is highest.

Band 1Goodmans LLPOsler, Hoskin & Harcourt LLPBand 2Bennett Jones LLP *

Blake, Cassels & Graydon LLP *

McCarthy Tétrault LLP *

Stikeman Elliott LLP *

Thornton Grout Finnigan LLPTorys LLP *

Band 3Borden Ladner Gervais LLP *

Cassels Brock & Blackwell LLP *

Davies Ward Phillips & Vineberg LLP *

FaskenNorton Rose Fulbright *

Band 4Chaitons LLPDentons Canada LLP *

Gowling WLG (Canada) LLPMcMillan LLP *

Band 5Aird & Berlis LLP *

Fishman Flanz Meland Paquin LLPGoldman Sloan Nash & Haber LLPWeisz Fell Kour LLP

Leading FirmsRestructuring/Insolvency

How lawyers are rankedEvery year we carry out thousands of in-depth interviews with clients in order to assess the reputations and expertise of business lawyers worldwide. The qualities we look for (and which determine rankings) include technical legal

ability, professional conduct, client service, commercial awareness/astuteness, diligence, commitment, and other qualities most valued by the client.

Restructuring/Insolvency Nationwide

Contents:Restructuring/Insolvency Nationwide p.401Leading Individuals p.409

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strategic and highly effective.”Work highlights Toronto-based Marc Was-serman led an Osler team that represented the Just Energy Group in a CAD1.1 billion recapitalisation under the terms of its CBCA plan of arrangement.Notable practitionersTracy Sandler represents numerous prom-inent companies in high-profile CCAA pro-ceedings, and also acts for receivers. She is based in Toronto. “She’s a very strong advocate for her clients who is tenacious and very hard-working.” “Tracy is fantastic to work with. She is highly knowledgeable, very responsive and approaches problem solving from a business perspective.” Marc Wasserman is consist-ently active on high-value and highly signifi-cant cross-border restructuring matters. He has acted on mandates arising in industries as diverse as cannabis, manufacturing, trans-portation and tobacco. Based in Toronto, Wasserman leads the national insolvency and restructuring group at Osler. “Marc Was-serman is one of the top insolvency lawyers in Canada.” “He is technically strong, very adept at client management and a great practitioner.” Osler’s Montréal managing partner Sandra Abitan is noted for her wealth of experience in relation to retail insolvency matters. She is widely acknowledged as one of the leading lawyers in this field in Québec. “She is knowl-edgeable, smart and pleasant to work with. She is hands-on and very practical on matters and knows how to work with various stakeholders with differing interests. She is extremely adept at providing strategic advice on how to get us to our stated goal.” Jeremy Dacks is a respected litigator who often acts on major CCAA pro-ceedings. He is based in Toronto, where he has a wealth of experience assisting with litigation matters up to the Ontario Supe-rior Court and Ontario Court of Appeal. “He is very seasoned, very good in court and very good at breaking down a case and presenting it to a judge. He’s detailed and thorough at his work.” Michael De Lellis handles a variety of work which includes acting for distressed companies in CCAA proceedings. He is based in Toronto. “He’s a very strong performer, very good at working in complex situations.”

Band 2

Bennett Jones LLPSee profile on p.460What the team is known for Bennett Jones is extremely well positioned to advise on large-scale insolvency matters in the oil and gas and mining sectors. The firm demonstrates notable strength in bondholder work, as well

* Indicates individual with profile.

◊ (ORL) = Other Ranked Lawyer.

Alphabetical within each band. Band 1 is highest.

Band 1Chadwick Robert J Goodmans LLP

Gorman Howard A Norton Rose Fulbright

Huff Pamela L. J. Blake, Cassels & Graydon LLP *

O’Neill Brendan Goodmans LLP

Sandler Tracy Osler, Hoskin & Harcourt LLP

Thornton Robert I Thornton Grout Finnigan LLP

Wasserman Marc Osler, Hoskin & Harcourt LLP

Zych Kevin Bennett Jones LLP *

Band 2Abitan Sandra Osler, Hoskin & Harcourt LLP

Bish David Torys LLP *

Bourassa Kelly Blake, Cassels & Graydon LLP *

Byers David Stikeman Elliott LLP *

Chaiton Harvey Chaitons LLP

DeMarinis Tony Torys LLP *

Dietrich Jane Cassels Brock & Blackwell LLP *

Gage James D McCarthy Tétrault LLP *

MacParland Natasha Davies Ward Phillips *

Pillon Elizabeth Stikeman Elliott LLP *

Sandrelli John Dentons Canada LLP

Simard Christopher D Bennett Jones LLP *

Taylor Ashley J Stikeman Elliott LLP *

Band 3Bomhof Scott A Torys LLP *

Brotman Stuart Fasken

Buttery Mary Cassels Brock & Blackwell LLP *

Collins Sean F McCarthy Tétrault LLP *

Ferland Denis Davies Ward Phillips & Vineberg LLP *

Jacobs Ryan Cassels Brock & Blackwell LLP *

Kukulowicz Shayne R Cassels Brock & Blackwell *

Latham Joseph Goodmans LLP

Martel Guy P Stikeman Elliott LLP *

Miller D.J. Thornton Grout Finnigan LLP

Pasquariello Joseph Goodmans LLP

Rogers Linc Blake, Cassels & Graydon LLP *

Rostom Waël McMillan LLP *

Rubin Peter Blake, Cassels & Graydon LLP *

Schwill Robin B. Davies Ward Phillips & Vineberg *

Zweig Sean Bennett Jones LLP *

Band 4Benchetrit George Chaitons LLP

Chow Milly Blake, Cassels & Graydon LLP *

Cobb Evan Norton Rose Fulbright

Dacks Jeremy Osler, Hoskin & Harcourt LLP

Duchesne Marc Borden Ladner Gervais LLP *

Forte Mario J Goldman Sloan Nash & Haber LLP

Gauthier Virginie Gowling WLG (Canada) LLP

Leading Individuals

Senior Statespeople: distinguished partnersGrieve John F Fasken

McCarthy Patrick T Borden Ladner Gervais LLP

Senior StatespeopleRestructuring/Insolvency

Mendelsohn Max McMillan LLP *

Rubenstein Gale Goodmans LLP

Swartz Jay A Davies Ward Phillips & Vineberg LLP *

Jackson Kibben Fasken

Kauffman Aubrey Fasken

Konyukhova Maria Stikeman Elliott LLP *

Lamek Edmond DLA Piper (Canada) LLP (ORL) ◊MacFarlane Alex Borden Ladner Gervais LLP *

Maerov Adam C McMillan LLP *

Mann David W Dentons Canada LLP

Moffat Grant Thornton Grout Finnigan LLP

Riendeau Alain Fasken

Rigaud Sylvain Woods LLP (ORL) ◊ *

Sahni Raj Bennett Jones LLP *

Stam Jennifer Norton Rose Fulbright

Weisz Steven J. Weisz Fell Kour LLP

Williams Leanne M. Thornton Grout Finnigan LLP

Band 5Armstrong Chris Goodmans LLP

Béliveau Luc Fasken

Cohen David F W Gowling WLG (Canada) LLP

Cumming Thomas Gowling WLG (Canada) LLP

De Lellis Michael Osler, Hoskin & Harcourt LLP

Empey Brian F Goodmans LLP

Fishman Avram Fishman Flanz Meland Paquin LLP

Fontaine C. Jean Stikeman Elliott LLP *

Gottlieb Matthew P Lax O’Sullivan Lisus (ORL) ◊ *

Graff Steven Aird & Berlis LLP

Kandestin Gerald Kugler Kandestin (ORL) ◊Kennedy Rebecca Thornton Grout Finnigan LLP

Krüger Josef Borden Ladner Gervais LLP

Lenz Ken Bennett Jones LLP *

Mahar Kyla Miller Thomson LLP (ORL) ◊Meredith Heather McCarthy Tétrault LLP *

Oliver Jeffrey Cassels Brock & Blackwell LLP *

Pasparakis Orestes Norton Rose Fulbright

Prophet Clifton Gowling WLG (Canada) LLP

Rosenberg Kenneth Paliare Roland (ORL) ◊Salmas John Dentons Canada LLP

Slavens Adam Torys LLP *

Tardif Alain McCarthy Tétrault LLP *

Vauclair Sylvain A Woods LLP (ORL) ◊ *

Weerasooriya Tushara McMillan LLP *

Up-and-coming individualsDescours Caroline Goodmans LLP

Hiebert Lisa Borden Ladner Gervais LLP *

Lachance Christian Davies Ward Phillips *

Morin Luc Norton Rose Fulbright

Renner Natalie Davies Ward Phillips & Vineberg *

Reynaud Joseph Stikeman Elliott LLP *

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Nationwide Restructuring/Insolvencyas advising debtors, court officers and inter-national investors. It is also acknowledged for its aptitude in cross-border matters involving US Chapter 11 proceedings, with the team’s industry expertise covering matters in the real estate, financial services and non-profit sectors. The firm is involved in a consider-able number of litigious mandates in the field and stands out for its bench strength in both Calgary and Toronto. Lawyers in the Calgary office regularly act for strategic buyers in the energy sector, while the Toronto office offers creditor-side experience across diverse industries.Strengths Market commentators note: “They have a very strong team of both practical and capable advisers working on complex interna-tional mandates.”Another interviewee added: “I was very impressed with the level of service, attention to detail and their willingness to solve problems and react fluidly to changing circumstances.”Work highlights A Bennett Jones team led jointly by Chris Simard and Kevin Zych rep-resented Third Eye Capital, in its capacity as the largest secured creditor of Accel Energy, throughout Accel’s CCAA insolvency pro-ceedings.Notable practitionersKevin Zych (see p.415) is a highly respected figure in Canada’s restructuring and insol-vency space. He possesses significant expe-rience advising companies on CCAA filings, as well as acting for lenders and agents. He co-heads the Bennett Jones team from his base in Toronto. “He is very knowledgeable about the restructuring world and very efficient in bringing our organisation up to speed. He’s effective and efficient in mentoring us about the restructuring business and providing us with all available options.” “Kevin Zych is well respected, smart and good to work with. He’s a real top-level lawyer on complex restructuring mandates.” Calgary-based Chris Simard (see p.414) acts for a range of debtor companies, receivers and noteholders, and is experi-enced acting on real estate restructurings. He co-heads the Bennett Jones restructuring and insolvency practice. “Chris Simard is one of the top restructuring lawyers in Western Canada.” “He’s extremely intelligent – he can take very complex disputes and break them down into manageable and understandable pieces.” Interviewees highlight Sean Zweig (see p.415) for his expert handling of mul-ti-stranded, cross-border files. He is based in Toronto. “Sean Zweig is a phenomenal lawyer who is results-focused.” “He’s excellent: a pro-fessional, tough negotiator.” Raj Sahni (see p.413) is based in Toronto, and is well versed in restructuring and insolvency mandates

arising in sectors such as energy and retail. “He is detail-oriented and a good analyst.” “Raj developed a sophisticated and successful restructuring that achieved our business goals. We had an aggressive timetable to complete the restructuring in, and he was able to meet that.” Calgary-based Ken Lenz QC (see p.411) is active on a range of CCAA proceedings. He has particular experience in energy sector mandates and co-heads the litigation team within Bennett Jones.

Blake, Cassels & Graydon LLPSee profile on p.462What the team is known for Blake, Cassels & Graydon maintains a well-established restructuring and insolvency department with standout lawyers in Toronto, Montréal, Calgary and Vancouver. The team has a par-ticularly strong presence representing major banks both domestically and internationally. It is widely acknowledged for its impressive track record assisting clients from the finan-cial services, mining and natural resources sectors with large CCAA and cross-border Chapter 11 proceedings. The firm is well placed to advise lenders, receivers and trou-bled businesses, and fields additional exper-tise in litigation, which includes experience before the Supreme Court of Canada.Strengths “They are very goal-oriented, knowledgeable and strategic in their advice,” one source said.Interviewees say that “they know what they’re talking about and offer sound advice.”Work highlights A Blakes team led by Peter Rubin assisted Dominion Diamond with its CCAA proceedings before the Court of Queen’s Bench of Alberta.Notable practitionersToronto-based Pamela Huff (see p.411) heads the nationwide restructuring and insolvency team at Blakes. She acts on a broad array of insolvency matters involving companies in sectors such as tobacco, construction and retail. “She is a fantastic speaker who is always very well informed. She comes up with creative solutions and is practical and busi-ness-oriented. Excellent value for money.” “She is a phenomenal lawyer: her academic knowledge and court presentation are both excellent.” Head of Blakes’ restructuring and insolvency group in Calgary, Kelly Bourassa (see p.409) centres her practice on the rep-resentation of banks and financial institu-tions and has notable experience advising lending syndicates. She also demonstrates strength assisting with insolvency matters in the oil and gas space. “Kelly Bourassa is one of the best insolvency practitioners in Cal-gary. She’s extremely responsive, understands

strategy and provides excellent technical legal advice.” Linc Rogers (see p.413) maintains an impressive practice which sees him represent court-appointed monitors as well as compa-nies undergoing insolvency proceedings. He is based in Toronto. “He is a very strong insol-vency professional – practical and thorough.” “He is responsive and good to deal with.” Van-couver-based Peter Rubin (see p.413) is com-mended for his assured handling of several prominent CCAA proceedings and counts a number of financial institutions among his clients. “He is very practical.” “He’s very good in court and good at highlighting strategies and presenting the arguments in a way that increases our chances of success.” Milly Chow (see p.409) has notable experience acting for financial institutions and lending syndicates on restructuring and insolvency mandates. She is based in Toronto. “Milly is a very experi-enced practitioner who is well respected. She is very technically sound.” “She is very technical and has great attention to detail.”

McCarthy Tétrault LLPSee profile on p.488What the team is known for McCarthy Tétrault has a strong national restructuring and insolvency team with a significant creditor-side practice. It regularly advises restructuring officers and monitors, as well as undertaking large debtor mandates. McCarthy offers notable cross-border capa-bilities and experience relating to pensions and investment funds, and stands out for its recent involvement in energy sector insol-vency matters, in addition to acting on man-dates in the manufacturing and automotive industries. The firm’s clients benefit from its multidisciplinary offering and expertise in litigation, tax and corporate law, while its national breadth allows it to provide local support across Canada.Strengths “They are all very thorough and have strong tactical skills,” one market source reported.Another interviewee said: “McCarthy provides high-level, full-service advice ranging from real estate and financing, to complex litigation, to insolvency and restructuring.”Work highlights A restructuring and insol-vency team led by James Gage advised Rothmans, Bensons & Hedges on its CCAA proceedings.Notable practitionersJames Gage (see p.410) advises monitors and trustees in addition to companies under-taking restructuring proceedings. He heads up the bankruptcy and restructuring practice at McCarthy and is based in Toronto. “He’s a very strong insolvency and restructuring prac-

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titioner who thinks through complicated issues and comes up with well-structured solutions.” “He has a calming demeanour and is a very good strategic thinker.” Sean Collins (see p.409) acts for monitors and receivers, as well as other stakeholders in major restruc-turings. He splits his time between Calgary and Vancouver. “He’s a results-oriented lawyer and someone who I think is fantastic; I highly recommend him.” Heather Meredith (see p.412) is based in Toronto, where she is regu-larly involved in major restructuring and insol-vency matters. She has notable experience acting for the agents of lending syndicates. “She is an excellent communicator. She’s very conscientious, very pragmatic and effective at looking at resolving conflict.” Alain Tardif (see p.414) has an array of experience acting for monitors and creditors in CCAA proceedings. He is based in Montréal, where he is often cited as a standout lawyer. “He’s very innova-tive, very practical, very strategic and aggres-sive on behalf of his clients.”

Stikeman Elliott LLPSee profile on p.502What the team is known for Stikeman Elliott is a distinguished national law firm with strong restructuring and insolvency capabilities in Montréal and Toronto ably supported by its offices in Calgary and Vancouver. The group offers extensive experience advising debtors and court-appointed monitors on complex CCAA matters, as well as representing cli-ents in parallel US Chapter 11 and Chapter 15 proceedings. The firm also acts for the purchasers of distressed assets. Stikeman is particularly active on mandates in the retail, mining, oil and gas, and real estate sectors.Strengths Sources say the team consists of “practical, knowledgeable and effective law-yers.”Work highlights Toronto-based partners Elizabeth Pillon and D’Arcy Nordick oversaw a Stikeman Elliott team advising Lydian Inter-national on its CCAA restructuring proceed-ings.Notable practitionersToronto-based David Byers (see p.318) typ-ically acts on restructuring and insolvency matters in the finance, tobacco and healthcare sectors. He co-leads the national litigation and dispute resolution practice at Stikeman. “He is a very good tactician and is respected by the Bar.” Elizabeth Pillon (see p.412) heads the firm’s restructuring and insolvency group in Toronto. She has a well-respected practice that sees her advising clients on a wide range of CCAA and insolvency proceedings. Her clients include monitors and trustees. “She is a go-to lawyer for very complex and difficult

mandates. She is a confident professional who gets things done. She is very reliable.” Toron-to-based Ashley Taylor (see p.414) regularly acts on significant, high-profile CCAA pro-ceedings. He has notable experience in the healthcare sector where he has advised a variety of notable CCAA applicants on their CCAA proceedings. Montréal-based Guy Martel (see p.412) is experienced in acting for clients on a wide array of domestic and cross-border restructuring and insolvency matters. “Guy is a very strong restructuring lawyer with significant company-side experi-ence in Canada.” “He has depth of experience and is extremely pragmatic in his approach.” Maria Konyukhova (see p.411) is a respected lawyer who is sought out by a variety of cli-ents to advise on reorganisation and wind-ing-up proceedings. She is based in Toronto. “She has a phenomenal ability to keep people calm and is an excellent lawyer.” Jean Fontaine (see p.410) is a prominent, Montréal-based commercial litigator who regularly handles insolvency disputes, representing the likes of trustees and financial institutions. “He’s very strong, experienced and a very solid practi-tioner.” Montréal-based Joseph Reynaud (see p.413) has a growing reputation for his work in the insolvency litigation space and has rep-resented clients hailing from an impressive array of industries. “He’s very effective in court and very attentive to details. He is aware of the client needs and will do what brings value to the client. He has a brilliant mind and is a nice person to work with.”

Thornton Grout Finnigan LLPWhat the team is known for Thornton Grout Finnigan is a distinguished commercial litiga-tion, restructuring and insolvency boutique based in Toronto, with notable experience representing banks, financial institutions and accountancy firms, as well as regulatory bodies and pension plans. The firm’s deep bench of dedicated lawyers offers note-worthy strengths acting as debtors’ counsel on major Canadian insolvencies. Its recent workload includes pharmaceutical, tobacco and cannabis insolvencies. The team also handles mandates in the mining and the oil and gas industries.Strengths “The team at TGF is very good to work with. The firm is deeply experienced in the insolvency and restructuring market,” one source commented.Another commentator added: “Their work product is impeccable.”Work highlights A Thornton Grout team led by partner D.J. Miller represented EY, in its capacity as monitor of Peraso, in the compa-ny’s CCAA proceedings.

Notable practitionersToronto-based Robert Thornton is rated highly for his prowess in major restructurings and insolvencies. His clientele consists of corporations, monitors and creditors, among others. “He’s one of the top restructuring lawyers in the country.” “He is very tuned in to CCAA proceedings, he knows the ins and outs and intricacies.” “He is very responsive.” D.J. Miller has extensive experience advising court-appointed receivers, lenders and cred-itors on CCAA proceedings. She is based in Toronto. “She is extremely committed and will represent her clients with amazing own-ership and vigour. If she acts for you, you will have strong and direct representation.” Grant Moffat is a Toronto-based lawyer who main-tains a broad practice, encompassing regular roles advising on highly contentious insol-vency mandates. “He is an excellent lawyer, I have a lot of admiration for him. He offers great client service.” Leanne Williams is noted for her experience in major CCAA proceedings and is highly sought after by major commer-cial banks, among other clients. She is based in Toronto. “Leanne is extremely knowledge-able, experienced and creative in working to develop unique solutions.” “She is always very responsive and good to deal with.” Rebecca Kennedy advises on a range of CCAA pro-ceedings and has especially notable experi-ence in the cannabis space. “She’s practical, efficient and responsive.” “She is a fearless advocate for her clients.”

Torys LLPSee profile on p.506What the team is known for Torys is a highly regarded law firm with impressive competen-cies in the restructuring and insolvency space. The team assists a prestigious portfolio of corporate clients with debt restructuring, exit financing and recapitalisation transactions. It often represents leading financial institutions and banks, as well as businesses in the manu-facturing and retail sectors. The restructuring and insolvency group is well placed to advise on cross-border files, including Chapter 11 and Chapter 15 proceedings. It offers impressive expertise out of Toronto and an expanding practice in Calgary.Strengths One interviewee described Torys as a “first-rate restructuring team,” noting that its lawyers are “strong litigators, commercially reasonable with exceptional technical knowl-edge, practical, adept at gaining consensus and problem solving, and have the ability to innovate.”Another source noted: “They are very skilled and bring a multidisciplinary team to solve complex problems.”

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Nationwide Restructuring/InsolvencyWork highlights A Torys team led by Toron-to-based David Bish assisted Mallinckrodt with its cross-border Chapter 11 proceed-ings and the ancillary CCAA proceedings in Canada.Notable practitionersDavid Bish (see p.409) has experience acting for information officers in major CCAA pro-ceedings and also represents monitors and creditors. He heads the restructuring and insolvency team and is based in Toronto. “He’s technically sound, very knowledgeable of the law and a strong negotiator.” “He is very prac-tical, super-responsive and a very good stra-tegic thinker.” Toronto-based Tony DeMarinis (see p.410) has noteworthy experience as spe-cial counsel on high-value matters. He serves as chair of Torys’ corporate restructuring and advisory practice. “He’s an experienced lawyer with exceptional judgement, well suited for high-stakes and challenging cases.” “Tony is a very thoughtful strategic thinker.” Respected insolvency practitioner Scott Bomhof (see p.409) has experience acting for lenders, court officers and real estate companies. He has advised on high-value matters occurring in sectors such as tobacco and construction. He is based in Toronto. “Scott is exceptional at devising practical solutions arrived at through superior technical knowledge and an innovative approach.” “He’s very thoughtful, thorough and conscientious.” Adam Slavens (see p.414) fre-quently advises clients on high-value CCAA and receivership proceedings from his base in Toronto. “Adam is very professional, and very solution-oriented in his approach.” “He has an excellent track record and technical skills. He’s skilled at understanding the core issues and developing comprehensive solutions.”

Band 3

Borden Ladner Gervais LLPSee profile on p.464What the team is known for Borden Ladner Gervais has a distinguished national insol-vency practice with impressive experience acting for clients from the banking, con-struction, mining and energy sectors, and a substantial caseload of oil and gas insol-vency matters. BLG demonstrates significant strength in Western Canada, with offices in both Calgary and Vancouver complementing the firm’s Toronto and Montréal offering. It is valued for its representation of secured lenders and debenture holders, as well as court officers, in both high-end and mid-market receiverships and bankruptcy filings. The firm is regularly active on high-profile, cross-border liquidations.

Strengths Interviewees note: “The team is knowledgeable, well respected in the industry, a pleasure to work with and presents well in front of lenders.”“They are very proactive, very efficient in terms of what they do and cost-effective,” added one commentator.Work highlights A team led by Toron-to-based partners Roger Jaipargas and Gus Karantzoulis advised UMB Bank, in its capacity as indenture trustee, on the approx-imately CAD800 million restructuring of existing notes issued by Stoneway Capital.Notable practitionersPatrick McCarthy QC is a highly seasoned restructuring and insolvency lawyer with a particular focus on the energy sector. He has considerable experience in cross-border insolvency work, acting for receivers, moni-tors and trustees, and is well versed in CCAA proceedings. He is based in Calgary. Sources note Montréal-based Marc Duchesne (see p.410) for his considerable presence in the commercial litigation and regulatory space in Québec. His clients include numerous banks and other financial institutions. “He’s a sea-soned lawyer with strong insolvency experi-ence.” Alex MacFarlane (see p.411) possesses experience acting on high-value CCAA pro-ceedings and representing insurance compa-nies and receivers. He is based in Toronto. “He is very responsive, thinks through complicated issues well and is very strong technically.” “Alex has deep technical ability. He’s a very seasoned practitioner, a skilled litigator and an excellent legal mind.” Josef Krüger QC is based in Cal-gary and possesses a particular knowledge of restructuring and insolvency issues in the energy sector. “He is very well respected and very good at navigating complex situations.” “He is very well spoken in court.” Vancou-ver-based Lisa Hiebert (see p.410) advises a broad range of clients, including financial institutions, on CCAA restructurings and bankruptcy proceedings. “It was a pleasure to work with her. She’s very responsive and knowledgeable.” “She is very collaborative and has good technical knowledge.”

Cassels Brock & Blackwell LLPSee profile on p.468What the team is known for Cassels Brock & Blackwell demonstrates a solid pres-ence in Canada’s national restructuring and insolvency market, offering significant mul-ti-jurisdictional expertise, with a focus on Canada-US cross-border restructurings. The firm acts for a variety of clients in the mining and energy sectors, with notable experience working on behalf of both creditors and dis-tressed companies. Cassels Brock also acts

for trustees in various roles, including as monitors and receivers. The expansion of the restructuring and insolvency teams in Cal-gary and Vancouver has bolstered the strong practice in Toronto.Strengths Sources report: “The team is very strong with complementary strengths – atten-tion to detail, creative thinking and passionate advocacy.”Another interviewee added: “They are very knowledgeable, responsive and offer strategic and client-friendly business advice.”Work highlights A Cassels team led by Ryan Jacobs advised the ad hoc committee of debenture holders of iAnthus Capital Man-agement on the company’s restructuring under the British Columbia Business Corpo-rations Act (BCBCA).Notable practitionersToronto-based Jane Dietrich (see p.410) attracts high praise for her consummate han-dling of highly significant CCAA proceedings. “She’s a strong technical lawyer who is very bright and hard-working.” “I am impressed with her knowledge and attention to detail.” Mary Buttery QC (see p.409) represents monitors in CCAA proceedings and also has experience acting for provincial and territo-rial governments. She is based in Vancouver. “Mary is excellent in court, good at getting her point across and advocating for her clients.” “She is client-focused and tenacious.” Based in Toronto, Ryan Jacobs (see p.411) has notable experience in US-related matters, and has represented notable debtor clients in the energy sector in CCAA proceedings. He also has a noteworthy creditor practice. “Ryan is a very commercial lawyer.” Toronto-based Shayne Kukulowicz (see p.411) chairs the restructuring and insolvency group at Cas-sels Brock. He advises an array of clients, including lenders and monitors, and has experience handling recapitalisation matters. His insolvency expertise is complemented by a significant grasp of bank lending and spe-cialty finance. “It’s always a pleasure working with Shayne. He is knowledgeable, articulate and thoughtful.” Jeffrey Oliver (see p.412) acts for numerous lenders and monitors on restructuring and insolvency matters. He is based in Calgary. “He is very smart, technically strong, extremely logical and focused on busi-ness solutions, good in court and provides solid advice.” “Jeff is detailed, calm under pressure and thorough.”

Davies Ward Phillips & Vineberg LLPSee profile on p.470What the team is known for Davies Ward Phillips & Vineberg is well respected for its

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ability to represent a wide range of key stake-holders in major restructuring mandates. The restructuring and insolvency group advises debtors, creditors and court-appointed mon-itors on both domestic and cross-border mat-ters. Davies is also frequently sought after to advise purchasers on distressed M&A deals. The firm has a strong presence in Toronto which is supported by insolvency specialists in Montréal. The New York office also assists with cross-border matters.Strengths “They are knowledgeable and able to provide very pertinent advice,” one source said.Market commentators add: “The team is excellent, deeply knowledgeable, practical and easy to deal with.”Work highlights Toronto-based Natalie Renner led a Davies team advising KSV Kofman (now KSV Restructuring) on its role as the monitor of James E. Wagner Cultivation during its CCAA proceedings.Notable practitionersAn esteemed senior figure in the market, Jay Swartz (see p.414) is experienced in acting on significant, high-value restructuring and insolvency mandates. He is a senior counsel based in Davies Ward’s Toronto office. “Jay Swartz is a steady, calm influence and a very smart lawyer.” Natasha MacParland (see p.412) remains active on major mandates including high-value CCAA proceedings, and her clients include both creditors and moni-tors. She is based in Toronto. “She is techni-cally a very strong lawyer, and very capable of managing complex issues.” “She has an excel-lent reputation.” Denis Ferland (see p.410) acts on high-profile restructurings, and on insolvency proceedings arising in sectors such as mining, retail and manufacturing. He is a key restructuring and insolvency lawyer in Davies’ Montréal office. “He is highly expe-rienced in CCAA matters, very personable, quick on responses and has a very good under-standing of our business.” “Denis anticipates potential problems, is action-oriented and creative at determining practical solutions to complex problems.” Robin Schwill (see p.413) is based in Toronto, where his work includes advising debtors and monitors on CCAA fil-ings. “He’s a very good lawyer, very bright, technical and thorough.” “He’s very intelligent and skilled, academically minded and respon-sive.” Christian Lachance (see p.411) enjoys a growing reputation in the restructuring and insolvency space in Montréal. “He is very knowledgeable in insolvency and restructuring; he knows the ins and outs and how to pitch the theory of the case within the framework.” “Christian is a well-respected and practical insolvency lawyer.” Interviewees especially

highlight Natalie Renner (see p.413) for her capable handling of restructuring and insol-vency matters in Canada’s nascent cannabis industry. “She is an up-and-comer; very smart and very practical.”

FaskenWhat the team is known for Fasken has a highly regarded national team with substan-tial experience of mining and retail insol-vency. The firm is also active on matters in the construction sector, advising a wide range of clients including lenders and debtors on complex debt recovery proceedings, liquida-tions, receiverships and informal workouts. It often acts for distressed companies during CCAA proceedings. Fasken is particularly well known for its strengths in Vancouver and Montréal, and leverages the firm’s inter-national platform to advise on mandates involving European and African components.Strengths One market commentator said: “They are courteous and knowledgeable.”Another source remarked: “They were chosen due to their deep knowledge of insolvency,” adding that the Fasken team provided “top-notch service.”Work highlights A Fasken team led by Van-couver-based Kibben Jackson advised interim lenders RCM Capital Management and SESA-BC Holdings on the CCAA proceedings of Quest University.Notable practitionersVancouver-based counsel John Grieve QC remains a trusted adviser to clients on CCAA proceedings as well as acting for companies in the midst of restructuring. “He has the deepest experience on both the creditor and debtor side in the Vancouver market.” Stuart Brotman heads the insolvency and restruc-turing practice at Fasken. He is consistently active on significant, high-value matters, with his work including major restructuring and insolvency mandates in mining, logistics and retail. He has experience representing lenders, receivers and information officers among other clients. He is based in Toronto. “He is tenacious, well organised, very tech-nically sound and a strong advocate for his clients.” “He’s strong on both the creditor and debtor side. Technically brilliant yet commer-cial and focused on the transaction.” Kibben Jackson possesses restructuring and insol-vency experience representing public com-panies as well as acting on matters in the cannabis sector. He is based in Vancouver. “Kibben is great in court and a very effective communicator. He’s a preferred counsel to debtors and court officers.” “He’s a senior pro-fessional who offers practical advice and clear direction. He’s a strong advocate for his cli-

ents.” Aubrey Kauffman is based in Toronto, where he regularly acts on behalf of banks and other creditors in high-value insolvency proceedings. “Aubrey Kauffman is very expe-rienced, knowledgeable, practical and very good at strategy.” Alain Riendeau has notable experience advising insolvent companies as well as monitors and creditors under CCAA and CBCA restructuring proceedings. He is based in Montréal. “He has vast experience and is someone who really prepares his work. His argumentation is very complete, there is a huge calmness about him and he really con-siders his words well.” Luc Béliveau advises clients on a range of high-value CCAA and receivership proceedings from his base in Montréal. “He is very practical and knowledge-able, and very easy to get along with. He helps us find solutions.”

Norton Rose FulbrightSee profile on p.491What the team is known for Norton Rose Fulbright is an international law firm with considerable strengths across a wide variety of restructuring and insolvency matters in Canada. The group is very highly regarded in Alberta for its focus on energy insolven-cies, although the firm also has a very strong presence in Québec and a notable profile in Vancouver. It advises on CCAA, CBCA and US Chapter 15 proceedings, as well as debt-or-in-possession financing and distressed M&A transactions. Norton Rose’s restruc-turing and insolvency team represents a range of major banks and financial institu-tions.Strengths “I would say that responsiveness, pragmatism and a genuine focus on client ser-vice are hallmarks of the Norton Rose Toronto team,” one source commented.Another source praised the firm for its “strong knowledge of bankruptcy and insolvency,” adding: “They are known for their great ser-vice.”Work highlights A team led by Toronto-based partners Orestes Pasparakis and Evan Cobb represented FTI Consulting Canada in its capacity as court-appointed monitor of Sears Canada during Sears’ CCAA insolvency pro-ceedings.Notable practitionersHoward Gorman QC acts for receivers and trustees, as well as noteholders. He pos-sesses particular experience acting on man-dates in sectors such as energy and real estate. He is a senior partner in Norton Rose’s Calgary office. “He has strong knowledge in oil and gas from an insolvency point of view. The service is also top-notch.” Evan Cobb is noted for acting on major CCAA proceedings and

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Nationwide Restructuring/Insolvencyhas experience representing trustees and monitors. He is based in Toronto. “I would describe him as an even-keeled practitioner, extremely technically adept, highly respon-sive and a very good advocate.” “He is a prac-tical, experienced, knowledgeable lawyer who gives straightforward answers to complicated questions.” Toronto-based Jennifer Stam is an experienced restructuring and insolvency practitioner who frequently advises clients on CCAA proceedings. “She is strategic, smart, calm under fire and very practical.” Toronto-based litigation partner Orestes Pasparakis acts on significant disputes in the insolvency field, representing creditors, mon-itors and information officers. “He is a brilliant and smart litigator. He did a fabulous job for us.” Montréal-based Luc Morin is an up-and-coming restructuring and insolvency lawyer who is noted for his representation of trus-tees and monitors in CCAA proceedings. “He is very solution-oriented.” “Luc Morin is very present in the Montréal market. He has a good reputation and is a very plugged-in individual who is very responsive and always available.”

Band 4

Chaitons LLPWhat the team is known for Chaitons is rec-ognised for its strength in mid-market corpo-rate restructuring and bankruptcy matters and related litigation. The firm offers notable experience representing a range of stake-holders in insolvency, including liquidators, creditors and court-appointed monitors. It acts for a diverse portfolio of clients from the manufacturing, automotive, transporta-tion, retail and financial services sectors. The group is based in Toronto and has appeared before all levels of court in Ontario, as well as the Supreme Court of Canada. The team is also experienced in cross-border work with the US market.Strengths One source observed: “There’s no better value for money than Chaitons. For mid-sized projects they’re my go-to.”Notable practitionersHarvey Chaiton is experienced acting on CCAA proceedings, representing the full gamut of stakeholders, including creditors such as financial institutions and private equity firms. He is based in Toronto. “Harvey Chaiton is a very well-known and capable practitioner.” “He is a great practical lawyer.” Toronto-based George Benchetrit offers cli-ents the benefit of more than two decades of experience and advises on a range of matters. His practice spans all aspects of insolvency, bankruptcy and corporate restructuring.

Dentons Canada LLPSee profile on p.472What the team is known for Dentons Canada advises domestic and international clients on a variety of restructuring and insolvency man-dates, with notable expertise in US Chapter 15 proceedings. The restructuring and insol-vency team is well regarded for its track record acting for banks, accounting firms and debtor corporations, as well as for its signifi-cant mining and real estate insolvency exper-tise. It is also active on restructurings in the manufacturing sector, in addition to assisting with the sale and purchase of distressed assets. With significant national depth, Den-tons is noted for its particular strength in Western Canada.Strengths One client observed: “We engaged Dentons because of their reliability, profession-alism and sector knowledge,” noting that their overall experience was “very positive. They were very collaborative in their approach.”Work highlights A team led by Edmon-ton-based partner Dean Hitesman advised PwC on its role as court-appointed receiver for Proform Management.Notable practitionersVancouver managing partner John San-drelli regularly acts on CCAA proceedings and represents clients such as monitors and receivers. “He’s a very good practitioner who is nice to deal with. I have a lot of time for John; he’s a very capable lawyer.” David Mann QC advises a host of clients including receivers, syndicate agents, lenders and debtors on insolvency mandates. He chairs Dentons’ Canadian restructuring, insolvency and bank-ruptcy group from his base in Calgary. Toron-to-based John Salmas has a notable profile acting for banks, trusts and other financial institutions. His clientele includes several receivers and syndicate agents, and he has considerable experience acting for stake-holders on cross-border insolvencies. “He is diligent and comprehensive.”

Gowling WLG (Canada) LLPWhat the team is known for Gowling WLG provides comprehensive restructuring and insolvency expertise across its Canadian offices, including substantial insolvency liti-gation capabilities. The group fields a strong national practice, with significant strength in Toronto complemented by its Calgary, Mon-tréal and Vancouver offices, and has notable cross-border experience handling mandates that concern the US Bankruptcy Code. The team advises debtors, receivers and court-ap-pointed monitors on bankruptcies and receiv-erships across various industries, including oil and gas, retail, agriculture and financial

services. It also regularly acts as counsel to several major Canadian banks.Strengths One interviewee reported: “We had a very positive experience using them as our trusted adviser; the combined team has both strong business sense in coming to solutions, and strengths in litigation and the application of insolvency law in Canada, as well as being experienced with cross-border engagements.”One source highlighted that the group is “excellent and very responsive,” adding: “They are very practical and business-oriented.”Work highlights A Gowlings team led by Toronto partner Virginie Gauthier advised King Street Company on its restructuring proceedings under the CCAA.Notable practitionersToronto-based Virginie Gauthier has a broad practice which includes offering advice to information officers, debtors and financial institutions on an array of high-stakes insol-vency matters. “She is a phenomenal lawyer – very balanced, fair and easy to work with. She’s ultra-responsive; she always responds in a timely fashion and thinks proactively and outside the box.” David Cohen has a financial sector focus, leading the financial institutions and services practice within Gowlings, and regularly acts for lenders on restructuring and insolvency matters. “He has strong busi-ness sense and the ability to seek a reason-able and practical solution to complex issues.” Tom Cumming leads the Gowlings restruc-turing and insolvency group in Calgary. He assists creditors and debtors, among others, with CCAA proceedings. “Tom is diligent, approachable and provides timely responses. It is a pleasure working with Tom.” Clifton Prophet heads the national restructuring and insolvency team within Gowlings. He has a broad range of experience in major insol-vency proceedings. “Clifton provides expert legal analysis and practical advice on applying insolvency law.”

McMillan LLPSee profile on p.490What the team is known for McMillan is a national law firm with particular strength in Toronto, supported by its Calgary and Mon-tréal offices. It is highly regarded for its rep-resentation of secured lenders in a range of distressed business situations. It also repre-sents a number of major Canadian banks, in addition to acting for court-appointed mon-itors and receivers, and the purchasers of insolvent companies. The group stands out for its extensive experience of oil and gas and mining insolvency work, and is often involved in international matters.Strengths Sources say: “McMillan’s team is

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extremely smart, motivated, hard-working and technically strong. They clearly enjoy working together to deliver practical, client-centred solutions.”Another commentator said: “They have deep expertise in the banking and restruc-turing space,” further adding that McMillan’s restructuring and insolvency team offers “excellent value – I know I’m in good hands and will get thoughtful, practical advice.”Work highlights Calgary-based partner Adam Maerov led a team which assisted the NSC Companies with their CCAA insolvency proceedings.Notable practitionersMontréal-based Max Mendelsohn (see p.412) is a senior figure in the Québec market who draws great respect from his peers. His expe-rience includes advising distressed compa-nies and financial institutions on insolvency mandates, and his practice also encompasses a number of appointments as mediator and arbitrator. Waël Rostom (see p.413) has notable experience representing banks and financial institutions, and is often engaged on CCAA proceedings. He is based in Toronto. “He’s an excellent practitioner who is good at complex mandates and a great advocate.” “He’s able to use his experience to find a solution for all stakeholders. He can take complex issues and put them into manageable decisions.” Adam Maerov (see p.412) acts for a range of clients, including lenders and shareholders of distressed companies. In addition to his client work he is managing partner of McMillan’s Calgary office. “He is smart, responsive and practical.” “He is excellent. He is always avail-able, smart and technically strong, and good at finding creative solutions. He is very good in court and extremely responsive.” Toron-to-based Tushara Weerasooriya (see p.414) is noted for her strong capabilities in restruc-turing and receivership proceedings. “She has a very deep knowledge of restructuring and insolvency, so she is able to answer all my questions and my numerous follow-up ques-tions.” “She’s a clear thinker with great tech-nical knowledge on insolvency and banking, she offers practical solutions and is very per-sonable.”

Band 5

Aird & Berlis LLPSee profile on p.458What the team is known for Aird & Berlis is a notable player in Canada’s mid-market restructuring and insolvency space. The team regularly acts for secured lenders and other creditors, as well as representing bond-

holders in cross-border transactions. The firm’s international restructuring and insol-vency experience includes handling man-dates involving Africa and the UK. Based in Toronto, the firm also has substantial experi-ence advising on matters involving distressed real estate assets and acting for clients in the retail sector.Work highlights A team led by partner Steven Graff represented EY, as court-appointed monitor of CannTrust Holdings and related entities, in connection with CannTrust’s CCAA proceedings.Notable practitionersSteven Graff has a notable presence in the financial services sector. He is well versed in acting for creditors on restructuring man-dates, with experience representing lenders, bondholders and shareholders. He is based in Toronto. “He’s a very personable and knowl-edgeable insolvency partner.”

Fishman Flanz Meland Paquin LLPWhat the team is known for Fishman Flanz Meland Paquin is a Montréal law firm with niche experience in commercial litigation, insolvency and restructuring. Its team advises Canadian and international financial institu-tions on a range of matters, including corpo-rate workouts and bankruptcies. It is active on matters in the retail, mining and manu-facturing sectors. The firm is active in the mid-market and its clients include debtors, creditors, monitors and receivers.Notable practitionersMontréal-based Avram Fishman serves as managing partner of Fishman Flanz. He is noted by sources for his regular involvement in insolvency matters relating to the tobacco industry. “Avram is a very experienced lawyer.”

Goldman Sloan Nash & Haber LLPWhat the team is known for Goldman Sloan Nash & Haber is a respected Toronto law firm which is adept at representing clients in CCAA proceedings. The group often acts for court officers, debtor companies and mezzanine lenders. It demonstrates notable experience providing counsel to insurance companies regarding the restructuring of project arrangements. Financial advisory firms also number among the firm’s clients.Work highlights A Goldman Sloan team led by counsel Mario Forte represented Express Gold Refining in its CCAA insolvency pro-ceedings.Notable practitionersMario Forte regularly acts for insurance com-panies and other financial institutions with regard to noteworthy restructuring and insol-vency matters. “He is a very experienced and

smart lawyer, and good to work with.”

Weisz Fell Kour LLPWhat the team is known for Weisz Fell Kour is a newly formed insolvency and restruc-turing boutique which has notable experience assisting distressed debtors with insolvency proceedings. The Toronto-based group is fre-quently called upon to advise on proceedings under CCAA and BIA. The firm is additionally adept at handling commercial litigation man-dates. Its recent workload includes cannabis, tobacco and pharmaceutical insolvencies.Strengths One source reported: “I find the partners to be hard-working lawyers who rep-resent their clients’ interests zealously and tirelessly. They are a new firm but have been developing a good reputation in the insolvency market.”Another commentator added: “The group we dealt with was very competent, knew the sub-ject matter very well and was very responsive.”Work highlights A Weisz Fell Kour team led by partner Caitlin Fell advised TribalScale on its CCAA filing and restructuring plan.Notable practitionersToronto-based Steven Weisz is noted by sources for his litigation focus and deep expertise in creditor-side work. He also rep-resents court-appointed officers. “He is sup-portive, informative and aggressive with my defence, as well as always available when I need to discuss my case.” “He is a senior lawyer who is good at working through difficult situa-tions and who is very responsive.”

Other Ranked Lawyers

Matthew Gottlieb (see p.322) is recognised by sources for his litigation work in the insolvency space. Based in Toronto, he is a founding partner of litigation boutique Lax O’Sullivan Lisus Gottlieb. “He has a well-de-served reputation for his advocacy skills.”Gerry Kandestin is highlighted by sources for his considerable experience in restruc-turing and insolvency issues. He is particu-larly active representing lenders. He is a founding partner of Montréal law firm Kugler Kandestin. “He is an excellent lawyer who has a lot of experience in restructuring and insol-vency.”Edmond Lamek has a wealth of experience guiding prominent companies through their CCAA proceedings and also acts for receivers and monitors. He is based in the Toronto office of DLA Piper Canada.Kyla Mahar is based in the Toronto office of Miller Thomson, where she is highlighted for her noteworthy experience representing

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Leading Individuals Restructuring/Insolvencyclients in CCAA proceedings. “She’s very practical and capable.” “She is a very knowl-edgeable and respected insolvency practi-tioner.”Sylvain Rigaud (see p.413) has notable expe-rience advising on major CCAA proceedings. He joined Woods LLP in March 2021 after leaving Norton Rose Fulbright and is based in Montréal. “He is a very technically strong lawyer and a good litigator. He’s very experi-enced.”

Sources value Toronto-based Ken Rosenberg for his particular niche acting for class action litigants, such as unions and pension fund investors, in insolvency proceedings. “He’s an excellent lawyer.”Respected lawyer Sylvain Vauclair (see p.414) has notable experience assisting cli-ents with CCAA proceedings. His clientele includes monitors, debtors, creditors and trustees, among others. He is based at Mon-tréal disputes boutique Woods LLP.

Leaders’ Profiles in Restructuring/InsolvencyBISH, DavidTorys LLP, Toronto(416) [email protected]

Featured in Restructuring/Insolvency (Nationwide – Canada)

Practice Areas: David is one of Canada’s leading insolvency law-yers. He brings highly experienced counsel in bankruptcies, insolven-cies, receiverships and restruc-turings, with a focus on creative solutions and practical perspective for clients navigating distressed circumstances. As the head of Torys’ Corporate Restructuring and Adviso-ry Practice, David regularly advises across all aspects of bankruptcy, proposals, wind-ups, liquidations, re-organizations, restructurings, receiv-erships and security enforcement, and corporate governance issues in distressed circumstances. He brings a wealth of experience to commer-cial financing, private equity and M&A transactions, including work that extends beyond domestic trans-actions to cross-border matters. David’s long track record as counsel to a wide range of parties—leading corporations, financial institutions, distressed investors and accounting firms—gives him a nuanced perspective of stakeholder interests on large, complex insolvency and restructuring transactions, helping clients navigate challenges and advance their business objectives.

BOMHOF, Scott ATorys LLP, Toronto+1 416 865 [email protected]


Practice Areas: Having worked on some of the most significant Canadian and cross-border insolven-cy and restructuring proceedings, Scott brings extensive experience

and strategic guidance to clients in their most complex deals and cases. Scott advises clients in all aspects of corporate restructuring and insol-vency, including court proceedings under the Companies’ Creditors Arrangement Act and the Bank-ruptcy and Insolvency Act, plans of arrangement under the Canada Business Corporations Act, sales proceedings, debtor-in-possession/interim financing loans, and re-ceiverships, as well as out-of-court transactions involving negotiated workouts, recapitalizations, debt exchanges, re-financings, distressed investments and acquisitions. Scott’s broad experience spans a range of sectors and industries, including real estate, construction and life sciences.

BOURASSA, KellyBlake, Cassels & Graydon LLP, Calgary(403) [email protected]


Practice Areas: Kelly is head of the Restructuring & Insolvency group in Calgary. She is experienced in all aspects of complex commer-cial reorganizations, work-outs, re-ceiverships and other enforcement of security. Kelly has represented many different parties affected by the insolvency process, includ-ing debtors, purchasers, lending syndicates, secured and unsecured creditors, receivers, monitors and trustees.Career: Kelly is the western editor of the Canadian Bankruptcy Reports.Professional Memberships: She is a member of the TMA Global Board of Trustees, the Northwest Chapter of the Turnaround Manage-ment Association, the Insolvency Institute of Canada, ABI and IWIRC.

BUTTERY, MaryCassels Brock & Blackwell LLP, Vancouver604 691 [email protected]


Practice Areas: Specializes in the area of commercial insolvency and a seasoned commercial litigator. Represents financial institutions, debtors/creditors, receivers and trustees in matters related to debt restructuring, corporate reorgani-zations, loan workouts, fraudulent preference actions, bankruptcy and receiverships. Offers extensive ex-perience in many different sectors, most notably, aboriginal, cannabis, mining, retail, real estate and for-estry. Regularly advises clients who are experiencing financial difficulty, or whose customers’ or suppliers’ insolvency affects their business and has class action experience. Has appeared in all levels of the courts including the Supreme Court of Can-ada. Recognized by numerous legal directories as a leader in her field.

BYERS, DavidStikeman Elliott LLP, Toronto(416) [email protected]

Featured in Restructuring/Insolvency (Nationwide – Canada), Litigation (Ontario)

See under Litigation & Dispute Resolution for profile.

CHOW, MillyBlake, Cassels & Graydon LLP, Toronto+1 416 863 [email protected]


Practice Areas: Milly has extensive expertise in complex and multi-jurisdictional financial restructurings, distressed mergers

and acquisitions and debtor-in-pos-session (DIP) financings involving restructuring matters across Canada and abroad. For over 25 years, Milly has been a trusted advisor to debt-ors, purchasers, lender syndicates, secured creditors, monitors, receiv-ers, trustees and other stakeholders in a wide range of industries.Professional Memberships: Mil-ly has played senior leadership roles in the Turnaround Management Association (TMA), having served as a former Global President (2017) and Global Chair (2018) and Immediate Past Global Chair and Chair of the TMA Nominations Committee (2019). She is currently a member of the TMA International Presidential Working Group and Chair of the Symposium Committee of the Insol-vency Institute of Canada. Milly has also served on the Advisory Council for the M&A Distressed Investing Summit (2017, 2018), and on the American Bar Institute Cross Border Program Advisory Board (2019).Publications: Milly authored and co-authored several chapters of the Business Law Reference Mate-rials for the Law Society of Upper Canada.

COLLINS, Sean FMcCarthy Tétrault LLP, Calgary(403) [email protected]


Practice Areas: Sean has wide-spread experience in all forms of complex corporate, financial and operational restructurings and insolvency proceedings, including representing debtors, distressed in-vestors, private equity funds, hedge funds, boards of directors, court officers, creditors and contractual counterparties in both court-super-vised and out-of-court restructur-

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Restructuring/Insolvency Leading Individuals

ings. Sean has extensive experience in international cross-border insolvency proceedings.Career: Alberta Bar, 1992.Professional Memberships: Insolvency Institute of Canada, Ca-nadian Bar Association, Law Society of Alberta, Turnaround Management Association, INSOL International.

DEMARINIS, TonyTorys LLP, Toronto+1 (416) [email protected]


Practice Areas: Tony is a widely recognized leader in his field, with decades of experience playing pivotall roles in prominent and suc-cessful Canadian and cross-border restructurings and insolvencies. Cli-ents call upon his leading corporate and insolvency experience to drive many of this field’s most demanding transactions and proceedings. As Chair of Torys’ Canadian Corporate Restructuring and Advisory Practice, Tony advises a wide range of prominent clients on all aspects of corporate financial restructurings or insolvencies, including transactions and proceedings involving negotiat-ed workouts, recapitalizations, debt exchanges, re-financings, distressed investments and acquisitions, court proceedings under the federal Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act, plans of arrangement under the Canada Business Corporations Act, sales auctions, bridge and debt-or-in-possession loans, and receiv-erships. Tony’s clients include public companies seeking to re-finance or restructure debt, lenders and lend-ing syndicates, ad hoc bondholder groups, bridge and debtor-in-pos-session lenders, financial sponsors, distressed business purchasers, exit lenders, receivers, monitors and information officers. He has deep expertise across many industry sectors, including energy, mining, oil and gas, retail, entertainment, manufacturing, financial services, real estate, media, tobacco, forestry, agriculture, telecommunications and technology.

DIETRICH, JaneCassels Brock & Blackwell LLP, Toronto416 860 [email protected]


Practice Areas: Practise focuses on commercial restructuring, insolvency and related litigation.

Extensive experience representing numerous stakeholders in formal and informal corporate reorgani-zations, enforcement of security and unsecured creditor remedies. Deputy Chair of firm’s Financial Services GroupCareer: Chair of the firm’s national Restructuring and Insolvency Practice Group. Adjunct Professor of Law at the University of Toronto (Bankruptcy Law, 2012-2016). Fre-quent speaker and author.Professional Memberships: Member of the Insolvency Institute of Canada. Fellow and member of the board of directors of INSOL International, a global federation of national associations for lawyers and accountants who specialize in turnaround and insolvency. Member of Turnaround Management Association (TMA) and International Insolvency Institute (III).

DUCHESNE, MarcBorden Ladner Gervais LLP, Montréal+1 514 954 [email protected]


Practice Areas: Co-Leader of the National Insolvency and Financial Restructuring Group. Advises debtors, creditors, holders of notes or debentures, and insolvency Court appointed officers. Acts in insolven-cy and financial services litigation matters. Significant roles in: the restructurings of Asset Backed Commercial Paper, AbitibiBowater, Boutique Jacob, Quebecor World, Bikini Village, Mega Brands, Mexi-cana Airlines, MAAX Corporation, Mechtronix Systems, Hexagone Group, BioAmber Inc., the liquida-tions of the Norbourg and Evolution Family of Mutual Funds, Swissair and Maple Bank. Current mandates include representation of the Bank-ing syndicate in the cross-border insolvency of Groupe Aldo, acting for the CCAA Monitor to the restruc-turing of the retail chain “Tristan” and representing The Bank of Nova Scotia in the CCAA restructuring of Groupe Atis.Career: Partner. Québec Bar, 1981. LL.L, University of Ottawa, 1980. Taught Bankruptcy and Insolvency Law course at the Faculty of Law of the McGill University (2016 and 2018) and at the University of Ottawa (2011)Professional Memberships: In-solvency Institute of Canada, INSOL International, Canadian Turnaround Management Association.

FERLAND, DenisDavies Ward Phillips & Vineberg LLP, Montréal+1 [email protected]


Practice Areas: Denis is a partner specializing in bankruptcy, insolven-cy, financial restructuring and the related litigation as well as commer-cial litigation. He offers practical and proactive advice to large multinationals, banks and financial institutions, creditors, debtors and court officers (trustees, monitors and receivers). Over his career, he has acted in many of Québec’s most significant restructuring and insolvency matters, helping to pave the way for countless reorganiza-tions and transactions (often with an international component). Denis is a frequent speaker on bankruptcy & insolvency issues and has pre-sided over several insolvency and bankruptcy conferences. He is also a long-time instructor for the Char-tered Insolvency and Restructuring Professional Qualification Program. Denis is the Vice-president of the Board of Directors of the select Insolvency Institute of Canada and a member of the exclusive International Insolvency Institute. Member of the Canadian Bar Asso-ciation, American Bar Association (Bankruptcy Division), Turnaround Management Association and INSOL International. Select Recognition: Chambers Global; Benchmark Cana-da; IFLR1000; The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada; Lexpert Special Edition: Finance and M&A; Lexpert Special Edition: Litigation; Lexpert Guide to US/Canada Cross-Border Lawyers in Canada; Canadian Legal Lexpert Directory; Best Lawyers in Canada; Lawdragon 500 Leading Global Restructuring & Insolvency Lawyers.

FONTAINE, C. JeanStikeman Elliott LLP, Montréal(514) [email protected]


Practice Areas: Jean Fontaine is a partner and member of the Litigation & Dispute Resolution and Restructuring & Insolvency Groups. Former Head of the Montréal office’s litigation team, he has built an extensive practice that focuses prin-cipally on the areas of commercial litigation, restructuring & insolvency, and shareholder disputes. Among

other clients, Jean represents finan-cial institutions, trustees and public companies. He is recognized as a leading restructuring and insolvency lawyer by the legal industry’s most prominent directories, including The Canadian Legal Lexpert Directory and IFLR1000’s Guide to the World’s Leading Financial Law Firms.

GAGE, James DMcCarthy Tétrault LLP, Toronto+1 416 601 [email protected]


Practice Areas: Practises exclu-sively in bankruptcy, insolvency and restructuring matters. Extensive experience advising debtors, credi-tors and court officers in work-out, restructuring, receivership and bankruptcy proceedings in both Canadian and international contexts. Recent matters include lead bank-ruptcy counsel to Rothmans, Benson & Hedges Inc. in its restructuring proceedings under the Companies’ Creditors Arrangement Act, to U.S. Steel Canada Inc. in its restructuring proceedings under the Companies’ Creditors Arrangement Act, to U.S. Steel Canada Inc. in its restructuring proceedings under the Companies’ Creditors Arrangement Act and chapter 15 of the U.S. Bankruptcy Code, and to Morneau Shepell as administrator of Nortel’s Canadian pension plans in Nortel’s global restructuring proceedings. Other recent matters include Canadian restructuring counsel to a car rental company in its global restructuring proceedings implemented under chapter 11 the U.S. Bankruptcy Code, and to a syndicate of senior lenders in the cross-border restructuring proceedings of a natural gas and electricity retailer.Career: University of Western On-tario (LLB, 1991); Ontario Bar, 1993.Personal: Ivey Business School (HBA, 1988).

GOTTLIEB, Matthew PLax O’Sullivan Lisus Gottlieb LLP, Toronto(416) [email protected]

Featured in Restructuring/Insolvency (Nationwide – Canada), Litigation (Ontario)

See under Litigation & Dispute Resolution for profile.

HIEBERT, LisaBorden Ladner Gervais LLP, Vancouver


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Leading Individuals Restructuring/InsolvencyPractice Areas: Lisa Hiebert is an Insolvency & Restructuring lawyer in BLG’s Vancouver office. She works with a wide range of clients handling all aspects of commercial insolvencies, formal and informal restructurings and enforcement and financial services litigation.Lisa has been involved in a number of signif-icant insolvency files advising and representing insolvency profession-als, challenged companies, lenders, directors and officers and other stakeholders. Her sector experience is diverse and includes cannabis, re-tail, oil and gas, mining, technology and manufacturing.Professional Memberships: Member, Insolvency Institute of Canada (admitted in 2020); Member, British Columbia Model Insolvency Order Committee; Board Member, Turnaround Management Associ-ation Northwest Chapter (1st Vice President); Member, International Women’s Insolvency and Restructur-ing Confederation (IWIRC)

HUFF, Pamela L. J.Blake, Cassels & Graydon LLP, Toronto+1 416 863 [email protected]


Practice Areas: Pamela is the Na-tional Practice Group Leader of the Firm’s Restructuring & Insolvency group, with 30 years of experience in the field, and a member of the Firm’s Executive Committee. She is experienced in all areas of insol-vency practice, including both the litigation and commercial aspects of workouts, reorganizations, receiverships and other enforce-ment of security. Pamela has acted as counsel to debtors, financial institutions, asset-backed lenders, debtor-in-possession (DIP) lenders, secured and unsecured creditors, receivers, trustees and monitors in complex domestic and cross-bor-der insolvencies, across a wide range of industries. She has also acted for purchasers in significant acquisitions through insolvency proceedings and has particular expertise with aircraft financings and airline insolvencies.Career: Recognized by all major domestic and international publi-cations as one of the leading insol-vency and restructuring lawyers in Canada.Professional Memberships: Pamela is the President of the Insolvency Institute of Canada. She is also a member of the Commer-

cial List Users’ Committee of the Superior Court of Justice (Ontario), the International Insolvency Institute TMA (Toronto), American Bankrupt-cy Institute, INSOL International, International Women’s Insolvency & Restructuring Confederation and The Advocates’ Society.

JACOBS, RyanCassels Brock & Blackwell LLP, Toronto+1 416 860 [email protected]


Practice Areas: Member of the firm’s Executive Committee. Former New York practitioner – has developed one of the leading cross-border restructuring practices in Canada acting on behalf of ad hoc and official creditor groups, Debtors, DIP Lenders and institutional and distress investors across a broad spectrum of industries. Serves as lead counsel on many of the largest and most complex in-court and out-of-court reorganizations, recapitalizations and restructurings in Canada.Career: Named a Lexpert Rising Star (leading lawyer under 40 in Canada) in 2015. Called to the bar in both NY and Ontario.

KONYUKHOVA, MariaStikeman Elliott LLP, Toronto1 416 869 [email protected]


Practice Areas: Maria Konyuk-hova is a partner in the Litigation & Dispute Resolution Group. She exclusively practices in the area of insolvency law, representing debtors, court appointed monitors, court officers, secured lenders and purchasers. She frequently appears in Commercial List matters before the Ontario Superior Court of Justice and the Court of Appeal, focusing on Companies’ Creditors Arrangement Act proceedings, court-appointed receiverships and bankruptcies. Maria has also appeared before the Alberta, British Columbia, Nova Scotia, New Brunswick and Manito-ba Courts in restructuring matters. Maria has been a guest lecturer on restructurings at the Osgoode Hall Law School LLM program, the University of Western Ontario Law School and at numerous conferences. She is a member of INSOL International, the Turnaround Management Association, the International Women’s Insolvency & Restructuring Confederation, the

Canadian Bar Association, and the Ontario Bar Association. Prior to join-ing Stikeman Elliott, Maria articled and practised at a bankruptcy and insolvency litigation boutique in Toronto.

KUKULOWICZ, Shayne RCassels Brock & Blackwell LLP, Toronto416 860 [email protected]


Practice Areas: Leader of the Restructuring & Insolvency Group at Cassels. Practices exclusively in insolvency with an emphasis on commercial restructuring, receiverships and bankruptcies. Extensive experience in formal and informal corporate reorganizations, cross-border restructurings and liquidations, security enforcement and creditor remedies.Career: Frequent lecturer on insolvency-related matters for the Law Society of Upper Canada, the Ontario Bar Association and other conference providers. 2014 Lexpert Zenith award winner for practice excellence and thought leadership. LLB, Western University; B.A., (Eco-nomics), Harvard University.Professional Memberships: Member of the Insolvency Institute of Canada, the International Insol-vency Institute, INSOL International, and the Turnaround Management Association (TMA).

LACHANCE, ChristianDavies Ward Phillips & Vineberg LLP, Montré[email protected]


Practice Areas: Christian is a member of the Dispute Resolution practice and coordinator of the Mon-tréal office’s Financial Restructuring & Insolvency practice. He specializes in financial restructuring and insol-vency litigation, as well as corporate and commercial litigation. He advises trustees, receivers, lenders and retailers on some of Canada’s most complex and intricate restruc-turing cases and regularly works with companies in difficult financial circumstances. Christian is the president of the Liaison Committee of the Superior Court, Commercial Chamber of the Barreau de Mon-tréal, and, since 2013, has lectured at the University of Sherbrooke and McGill University law faculties on Bankruptcy and Insolvency Law. He is a member of the Emerging Issues and Law Reform Committee of the

Insolvency Institute of Canada. In 2020, Christian received the Bench-mark Canada Impact Case of the Year Award and the IFLR Canada Re-structuring and Insolvency Lawyer of the Year Award. Select Recogni-tion: IFLR1000; Lexpert Rising Stars: Leading Lawyers Under 40; Lexpert Special Edition: Litigation; The Canadian Legal Lexpert Directory; The Best Lawyers in Canada.

LENZ, KenBennett Jones LLP, Calgary(403) [email protected]


Practice Areas: Co-head of the firm’s litigation department, Ken focuses his practice on insolvency and restructuring matters, including representing companies, receivers, monitors, acquirors, creditors and financial institutions in managing corporate reorganization and the realization of assets. Ken has in recent years acted in almost every significant restructuring in Alberta, and in many as counsel for the restructuring company under Companies Creditors Arrangement Act proceedings where the indebt-edness and share structure are modified through a court ordered ar-rangement. This practice necessarily involves litigation concerning oil and gas industry agreements, lending arrangements, security enforcement and corporate governance matters.Career: Admitted to the Alberta bar, 1993.Personal: He is a member of the Insolvency Institute of Canada, INSOL International and the Turn-around Management Association and a past chair of the Canadian Bar Association – Calgary, Insolvency Section. Ken is a frequent speaker on matters concerning insolvency and commercial litigation to industry associations and practicing lawyers.

MACFARLANE, AlexBorden Ladner Gervais LLP, Toronto(416) [email protected]


Practice Areas: Alex MacFarlane is a partner at BLG and National Co-Chair of the Insolvency and Restructuring Group. He specializes in cross-border restructurings and insolvencies, including financial institutional insolvencies. He rou-tinely acts for debtor corporations, financial institutions, creditors’ com-mittees, court appointed liquidators,

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receivers and monitors, and trustees in bankruptcy. Most recently, Alex acted as lead counsel to Universal City Development Partners, Ltd and Universal Studios Licensing LLC in the Cirque du Soleil and al. CCAA Proceedings, to Ernst & Young Inc. in its capacity as court appointed monitor of PharmHouse Inc. a can-nabis cultivator and producer and has also acted for GNC Holdings Inc.: Canadian counsel to the U.S. Creditors Committee appointed in the U.S. Bankruptcy Proceedings of GNC Holdings.Career: Called in the provinces of Ontario and Nova Scotia.Professional Memberships: Member of the Insolvency Institute of Canada, the TMA, ABI, INSOL and the Risk Management Association.

MACPARLAND, NatashaDavies Ward Phillips & Vineberg LLP, Toronto+1 [email protected]


Practice Areas: Natasha is a part-ner who provides clients with smart solutions for their complex insolven-cy and restructuring challenges. She is a skilled corporate commercial lawyer with wide-ranging litigation experience and regularly leads complex, high-profile restructuring mandates, often with cross-border elements. She advises on a wide variety of debt restructuring, bank-ruptcy and insolvency, corporate debtor/creditor rights enforcement, turnarounds, workouts, and plans of arrangement under the Companies’ Creditors Arrangement Act. Clients regularly consult her for strategic advice and risk analysis on deal structuring and lending. She has deep and innovative deal experience in distressed acquisitions and financings. Natasha co-authors a regular column in Rebuilding Success magazine on important insolvency decisions and co-authors the Davies Restructuring Review, a quarterly report on key trends and developments. She is the chair of the 2020 and 2021 Annual IIC conference. She is a guest lecturer at Osgoode Hall Law School and the University of Toronto Faculty of Law. Select Recognition: 2019 TMA To-ronto Women of Excellence Award, Today’s Leader; Chambers Global; The Legal 500 Canada; IFLR1000; Lexpert Rising Stars: Leading Law-yers Under 40; The Canadian Legal Lexpert Directory; The Best Lawyers

in Canada; Who’s Who Legal: Re-structuring & Insolvency.

MAEROV, Adam CMcMillan LLP, [email protected] Areas: Adam Maerov is the Office Management Partner of McMillan’s Calgary office where he leads the Alberta restructur-ing team. Adam is driven by his commitment to developing practical, tailored strategies and solutions to his clients’ most complex business problems. Adam’s practice includes all aspects of restructuring including distressed acquisitions, workouts, reorganizations, receiv-erships and security enforcement. Representative transactions include significant domestic and cross-bor-der restructuring matters in the energy sector and other industries across Canada. In 2018, Adam lead the McMillan team that intervened on behalf of the Canadian Associa-tion of Insolvency and Restructuring Practitioners in the Redwater Ener-gy appeal before the Supreme Court of Canada. Adam is a leader in the American Bar Association Business Bankruptcy Committee where he is the International Coordinating Committee Director and a Co-Chair of the Corporate Governance Sub-committee. Adam is the recipient of the 2018 Kathryn R. Heidt Memorial Award presented by the Business Law Section of the American Bar Association. In 2019 Adam was invit-ed to join the Insolvency Institute of Canada, Canada’s premiere private sector insolvency organization.

MARTEL, Guy PStikeman Elliott LLP, Montréal(514) [email protected]


Practice Areas: Guy P. Martel is a partner in the Litigation & Dispute Resolution Group who specializes in banking and restructuring. He practices in the areas of banking, corporate law and M&A with a focus on bankruptcy, insolvency and reorganization. He has advised in many of the major Canadian and cross-border commercial transac-tions and restructurings. He has ac-tively participated in the representa-tion of lenders, borrowers and investors in Canadian, cross-border or foreign matter. Guy often acts as legal advisor for lending institutions and companies that specialize in the restructuring and sale of financially troubled businesses.

MENDELSOHN, MaxMcMillan LLP, Montré[email protected] Areas: Max Mendelsohn, widely renowned as a pragmatic deal-maker, advises commercial en-terprises and acts as a mediator and arbitrator in commercial disputes and shareholder disengagements. He is a member of the Insolvency and Restructuring Group in Mon-treal, and has served on the Boards of public and private corporations. Fellow of the Insolvency Institute and member of the International Insolvency Institute. Recognized in Lexpert’s 500 leading lawyers in Canada, the Chambers Global Direc-tory of the world’s leading lawyers and the International Who’s Who of Insolvency and Restructuring Law-yers. Recipient of Lexpert’s Zenith award, TMA Lifetime achievement award and designation of Avocatus Emeritus from the Barreau du Québec (Bar of Quebec).

MEREDITH, HeatherMcCarthy Tétrault LLP, Toronto(416) [email protected]


Practice Areas: Practice focuses on commercial insolvency, restruc-turing, bankruptcy and related litigation. Experience in numerous complex Canadian corporate restructurings representing a wide variety of stakeholder groups, including debtors, secured creditors, court officers and landlords. Expe-rience includes, the restructuring of 33 Yorkville, Halo, Clover, Rothmans, Benson and Hedges, U. S. Steel Canada, Bondfield Construction – related P3 projects, Arctic Glacier, Cash Store, Skyservice and Asset Backed Commercial Paper as well as the cross-border restructurings of Takata, SquareTwo and Elephant and Castle.Professional Memberships: Insolvency Institute of Canada, TMA (Toronto), OBA, International Wom-en’s Insolvency and Restructuring Confederation.

OLIVER, JeffreyCassels Brock & Blackwell LLP, [email protected]


Practice Areas: Routinely acts for lenders, court-appointed officials (receivers, monitors, trustees), landlords, purchasers, debtors, secured and unsecured creditors,

directors, trustees, receivers and monitors. Advises clients on corpo-rate reorganizations, bankruptcies, receiverships, foreclosures, lease realizations and loan workouts, in-cluding on cross-border insolvencies and realizations. Also experienced in secured and unsecured financings, including interim and takeout financing within insolvency pro-ceedings and securitization within forbearance arrangements. Fellow of INSOL International, member of the Insolvency Institute of Canada. Appeared before the Supreme Court of Canada in leading roles in the landmark Redwater Energy Cor-poration and Canada North Group decisions.

PILLON, ElizabethStikeman Elliott LLP, Toronto001 416 869 [email protected]


Practice Areas: Elizabeth (Liz) Pillon is a partner in the Litigation & Dispute Resolution Group and Head of the Restructuring and Insolvency Group in the Toronto office. Her practice focuses on commercial litigation with an emphasis on restructuring and insolvency matters. Liz’s restructuring and insolvency practice involves Ontario based restructurings, Companies’ Creditors Arrangement Act (CCAA), Receivership and Bankruptcy proceedings, as well as cross border insolvency proceedings. She has represented debtors, monitors, receivers, trustees in bankruptcy, secured creditors, purchasers of assets from insolvent estates, and has been appointed by the Court to act as representative and inde-pendent counsel in restructuring proceedings. Liz frequently appears before the Ontario Superior Court (Commercial List) as well as the Ontario Court of Appeal. She has also appeared before the Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia and Quebec Courts in restructuring matters. Liz is a member of the Insolvency Institute of Canada (IIC); the Inter-national Insolvency Institute (III); the International Women’s Insolvency & Restructuring Confederation (IWIRC); the International Federation of Insolvency Professionals (INSOL International); the Turnaround Man-agement Association (TMA); and The Advocates’ Society.

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Leading Individuals Restructuring/InsolvencyRENNER, NatalieDavies Ward Phillips & Vineberg LLP, [email protected]


Practice Areas: Natalie has a broad commercial practice focusing on insolvency, corporate reorganiza-tions, asset sales and acquisitions, creditor rights enforcement and proceedings under the Companies’ Creditors Arrangement Act and the Bankruptcy and Insolvency Act. She also advises on banking, finance and corporate matters. Her clients—including financial institutions, corporations, strategic investors and accounting firms—appreciate Natalie’s business-minded solutions and expertise at identifying and resolving their important concerns. Natalie is a frequent lecturer on insolvency and commercial law matters at Osgoode Hall Law School, including for the Osgoode Professional Development and the Professional LLM programs. She teaches Osgoode’s Regulation of the Canadian Cannabis Industry course and has taught the business law section of the CanBarPrep course. Natalie is a contributor to CAIRP’s Rebuilding Success magazine, writ-ing a column on trending decisions in the insolvency and restructuring space. She also co-authors the In-solvency chapter of Bullen & Leake & Jacob’s Canadian Precedents of Pleadings. She is a member of the Turnaround Management Associa-tion and the International Women’s Insolvency and Restructuring Feder-ation. Select Recognition: Chambers Canada; Lexpert Rising Stars.

REYNAUD, JosephStikeman Elliott LLP, Montré[email protected]


Practice Areas: Joseph Reynaud is a partner in the Litigation & Dispute Resolution Group, whose practice focuses on restructuring, insolvency and commercial litigation. Joseph regularly advises and represents debtors, secured lenders, court-ap-pointed officers and purchasers in proceedings under the Companies’ Creditors Arrangements Act and the Bankruptcy and Insolvency Act. He is involved in Quebec-based, na-tional and cross-border proceedings and has appeared before all levels of courts, including the Supreme Court of Canada. Joseph has partic-ipated in large-scale restructurings,

liquidations, distressed asset sales and the litigation or arbitration of major commercial disputes in sever-al industry areas, including airlines and aircraft financing, banking, construction, equipment financing, energy, forest products, gaming, hydroelectricity, information tech-nology, manufacturing, oil and gas, real estate and retail. His expertise in dispute resolution and insolvency also lead him to provide strategic advice to clients in commercial transactions.

RIGAUD, SylvainWoods LLP, Montréal+1 514 [email protected]


Practice Areas: Sylvain Rigaud practises domestic and cross-border insolvency, bankruptcy and restruc-turing. He regularly advises debtor companies, as well as creditors, trustees and monitors. He has exten-sive experience appearing before all Quebec courts both at the trial and appellate levels.Career: Quebec 1990 (holds civil and common law degrees)Professional Memberships: Canadian Bar Association – Quebec Former president of the bankruptcy and insolvency section of the Que-bec division Quebec Bar – Bankrupt-cy and Insolvency Committee Insol-vency Institute of Canada Institut de développement urbain du Québec Insol International Turnaround Management Association American Bankruptcy Institute

ROGERS, LincBlake, Cassels & Graydon LLP, [email protected]


Practice Areas: Linc acts as a principal adviser to key stakeholders in some of Canada’s most complex domestic and cross-border restruc-turings and distressed acquisitions. He is experienced in complex corporate reorganizations, financial restructurings, distressed M&A and debtor-in-possession financings. His clients include leading private equity and hedge funds, large commercial lenders, multinational corporations and prominent advisory firms acting in various court-appointed capacities. Linc is also chair of Blakes Distressed Retail Sub-Group and has played prominent roles in some of Canada’s largest retail insolvencies.

Career: Linc is recognized as a leading lawyer in all major directo-ries and publications.Professional Memberships: Linc is a member of the Insolvency Institute of Canada and is on the board of directors of Annual Review of Insolvency Law Society Inc.

ROSTOM, WaëlMcMillan LLP, Toronto(416) [email protected] Areas: Waël Rostom is co-Chair of the Firm’s Restructuring and Insolvency Group. Waël’s prac-tice focuses on all matters relating to corporate insolvencies including workouts, court-supervised restruc-turings, bankruptcies, receiverships, the purchase and sale of distressed businesses, lending transactions, DIP financing and other forms of distressed investing. Over the years, Waël has represented a broad range of numerous high profile domestic and cross-border insolvency and restructuring proceedings. Clients have included publically traded companies, directors and officers, shareholders, banks, financial institutions, hedge funds, private equity funds, asset based lenders, customers and suppliers. Waël has also advised privately appointed and court appointed receivers, trustees in bankruptcy and court appointed monitors. Waël is a recognized lawyer to Chambers and Partners, Who’s Who Legal and Best Lawyers. Chambers and Partners has noted that Waël is recognized for his strong market presence and quoted sources as saying: “He’s very technical and very committed” and “is a phenomenal lawyer who is very commercial and very savvy”.

RUBIN, PeterBlake, Cassels & Graydon LLP, Vancouver+1 604 631 [email protected]

Featured in Restructuring/Insolvency (Nationwide – Canada), Litigation (British Columbia)

Practice Areas: Peter is a leading lawyer who practices in both the restructuring and insolvency area as well as on complex commercial litigation matters. His restructuring and insolvency practice involves advising debtor companies, lender syndicates, secured and unsecured creditors, purchasers of distressed assets, debtor-in-possession lend-ers, and other parties affected by business insolvency issues. He has acted as independent counsel for

monitors in reorganization cases, re-ceivers and trustees in bankruptcy.Career: Peter’s practice is national in scope and he has acted as debtor counsel as well as counsel to se-cured creditors in many of Canada’s largest insolvency files. In addition to appearing in all levels of Court in British Columbia, Peter frequently appears in Ontario and Alberta on insolvency matters. He has also appeared before the Supreme Court of Canada, the Federal Court of Appeal, the Federal Court, the Tax Court of Canada, as well as numerous administrative tribunals, arbitrators and mediators.Publications: Peter has co-au-thored Continuing Legal Education (CLE) papers, frequently appears as a lecturer at insolvency conferences, and is a contributing author to a comprehensive text on government liability. He is also a regular guest lecturer at the Law Society’s profes-sional legal training course.

SAHNI, RajBennett Jones LLP, Toronto+416 777 [email protected]


Practice Areas: A partner in the firm’s bankruptcy and restructuring practice group and the Chair of the firm’s India Committee. His experi-ence includes complex international and cross-border insolvencies, formal and informal debt workouts and restructurings, receiverships, bankruptcies, Companies’ Creditors Arrangement Act restructurings and Bankruptcy and Insolvency Act proposals. Raj also acts for lenders and secured creditors in secured financing and asset based lending transactions and purchasers of assets and shares in insolvency pro-ceedings and distress situations.Career: Admitted to the Ontario bar, 2000Personal: Raj was named by the India Business Law Journal as one of the top 100 international lawyers for India-related matters. He is regularly sought out for his expertise in this area and has contributed numerous articles to the India Business Law Journal on India-Canada trade and investment issues. He speaks both English and Hindi.

SCHWILL, Robin B.Davies Ward Phillips & Vineberg LLP, Toronto(416) [email protected]


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Practice Areas: Head of Davies’ Financial Restructuring & Insolvency practice, Robin advises on corporate turnarounds, workouts and restruc-turings, distressed asset sales and acquisitions, debtor-in-possession financings, and secured and unse-cured creditor rights enforcement. Known for his creative and focused advice, he acts on numerous inte-grated cross-border proceedings and represents debtors, boards, purchasers, secured and unsecured creditors, receivers, monitors and trustees in bankruptcy. Robin is a member of the Insolvency Institute of Canada, INSOL International and the Turnaround Management Association, as well as a past chair of the Ontario Bar Association’s Insolvency Law Section. He is also a periodic lecturer at Osgoode Hall Law School, where he lectures on the topics of secured transactions, bankruptcy and insolvency. Select Recognition: Chambers Canada; Chambers Global; IFLR1000; The Legal 500 Canada; The Best Law-yers in Canada; Who’s Who Legal: Canada.

SIMARD, Christopher DBennett Jones LLP, Calgary+1 403 298 [email protected]

Featured in Litigation (Alberta), Restructuring/Insolvency (Nationwide – Canada)

Practice Areas: Chris is co-head of the restructuring and insolvency group. He also practices in the area of energy/commercial litigation. Chris represents creditors, debtors, court-appointed monitors, receivers and trustees in bankruptcy in large domestic and cross-border insolvencies and restructurings. In the area of energy litigation, he has advised energy companies on disputes arising out of joint operating agreements, construction agreements, seismic agreements, purchase and sale agreements, security agreements and on various matters related to Crown and Free-hold leases.Career: Admitted to the Alberta bar, 1997Personal: BSc (University of Alber-ta), 1993; LLB (University of Alberta), 1996; BCL (University of Oxford, UK), 1998

SLAVENS, AdamTorys LLP, [email protected]


Practice Areas: Adam’s commer-cially minded and rigorous counsel helps clients find solutions and re-alize goals in their restructuring and insolvency matters. Adam advises and represents creditors, investors and purchasers, restructuring cor-porations, equity holders and official court-ordered appointees in the fi-nancial restructurings of distressed companies in out-of-court workouts and refinancings as well as formal proceedings under the Companies’ Creditors Arrangement Act and arrangements under the Canada Business Corporations Act.

SWARTZ, Jay ADavies Ward Phillips & Vineberg LLP, Toronto(416) [email protected]


Practice Areas: Jay is recognized by clients and peers as one of the top insolvency lawyers in Canada. He has a diverse commercial practice, with particular emphasis on corporate restructuring, private company acquisitions, banking and debt financing, financial product development, structured finance and private equity funds. He is lead counsel in many Canadian and cross-border insolvencies. Jay is experienced in the formation of private investment funds, regulation of banks and financial institutions and corporate governance. He has helped develop asset-backed securities and derivative businesses in Canada. Jay is a Fellow of the Insolvency Institute of Canada and of the American College of Commercial Finance Lawyers. He received the OBA Murray Klein Award for Excellence in Insolvency Law in 2017. Select Recognition: The Best Lawyers in Canada’s Toronto Insolvency and Financial Restructur-ing Law Lawyer of the Year 2017 and Banking and Finance Law Lawyer of the Year 2015; Chambers Global; IFLR1000; The Canadian Legal Lexpert Directory; Who’s Who Legal: Banking and Capital Markets; Who’s Who Legal: Canada.

TARDIF, AlainMcCarthy Tétrault LLP, Montré[email protected]


Practice Areas: Alain N. Tardif is a partner in the Bankruptcy and Restructuring Group in Montréal. His practice focuses on domestic, cross-border and transnational cor-

porate restructuring transactions, including All kind of cross-border restructurings, out-of-court restruc-turings and workouts, strategic insolvency-based acquisitions, and near-insolvency investing scenarios He has acted in a significant number of restructurings and reorgani-zations, leading representation of debtor companies, lenders, creditors, key shareholders, private equity firms and strategic investors. He frequently assists the World Bank as an insolvency law expert, and as such, participated recently in missions in various countries in the Caribbean and Africa. His expertise and experience have led to regular invitations to speak to various organ-izations about insolvency issues and to present restructuring strategies tailored to the firm’s clients.Career: Québec Bar, 1992 Alain lectures at the Faculty of Law of the Université de Montréal on the sub-ject of commercial restructuring.Professional Memberships: Member of the Canadian Turnaround Management Association, a member of the American Bankruptcy Institute, and a member of INSOL International. In the past Alain sat on the committee for the accreditation of bankruptcy trustees and has been president of the Canadian Bar Asso-ciation, Bankruptcy and Insolvency Division (Québec chapter).

TAYLOR, Ashley JStikeman Elliott LLP, Toronto1 416 869 [email protected]


Practice Areas: Ashley Taylor is a partner in the Litigation & Dispute Resolution Group. He is a former Co-Head of the Restructuring & Insolvency Group, and currently serves on the Associates’ Commit-tee in the Toronto office. Ashley practises exclusively in the area of insolvency law and represents debtors, court-appointed officers, secured lenders and purchasers. He has frequently appeared in Commercial List matters before the Ontario Superior Court of Justice and the Court of Appeal, focusing on Companies’ Creditors Arrangement Act proceedings, court-appointed receiverships and bankruptcies. Ashley has lectured on restructur-ings at the University of Western Ontario Law School and Osgoode Law School, as well as numerous conferences. He is a member of the Insolvency Institute of Canada and the Turnaround Management

Association. Before articling with Stikeman Elliott, Ashley clerked at the Supreme Court of British Columbia.

VAUCLAIR, Sylvain AWoods LLP, Montré[email protected]


Practice Areas: Sylvain Vauclair heads the insolvency and restruc-turing group of Woods LLP. Sylvain is an insolvency specialist with over 35 years of experience representing the full spectrum of stakeholders, including debtors, creditor commit-tees, individual and ad hoc commit-tees of bondholders, boards, CCAA monitors and bankruptcy trustees. In recent years, his practice has focused on restructuring matters. As a lead insolvency, restructuring and bankruptcy lawyer in Canada, Sylvain has been at the forefront of some of the most prominent cases. A hallmark of his work is his capability to grasp the nuances of the real-time litigation process in the most complex cases.Career: Quebec Bar 1983, Sylvain is regarded as a preeminent figure in insolvency and restructuring law. He is listed in the most renowned legal directories: Chambers Canada, Chambers Global (2014), The Cana-dian Legal Lexpert® Directory, the Lexpert® 2009 Guide to the Leading US/Canada Cross-Border Litigation Lawyers in Canada, The 2008 Lexpert®/American Lawyer Guide to the Leading 500 Lawyers in Canada, International Who’s Who Legal, The Best Lawyers in Canada.Professional Memberships: Sylvain is one of the few selected members of the Insolvency Institute of Canada and lectures regularly on insolvency and restructuring issues.

WEERASOORIYA, TusharaMcMillan LLP, [email protected] Areas: Tushara is a partner in the Firm’s Restructuring and Insolvency Group. Her practice is focused on the transactional aspects of reorganizations under the Companies’ Creditors Arrangement Act, receiverships, workouts, and distressed M&A transactions. She acts for a wide range of clients, including debtors, secured lenders, hedge funds, private equity firms, purchasers and court officers. Tushara has advised on numerous high-profile and complex domestic, cross-border and international

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Leading Individuals Restructuring/Insolvencyrestructuring proceedings. An ex-perienced deal lawyer, Tushara also frequently represents private equity firms and financial institutions in a variety of financing transactions, in-cluding secured lending, sponsored finance and debtor-in-possession (DIP) financing. In 2020, she became the automotive industry officer for the Insolvency Section of the International Bar Association. A dedicated promoter of diversity initiatives both inside and outside the firm, Tushara chairs McMillan’s Equity, Diversity and Inclusion Council. She is also a past director of the Federation of Asian Canadian Lawyers.

ZWEIG, SeanBennett Jones LLP, Toronto(416) [email protected]


Practice Areas: Sean is a partner in the firms restructuring and insol-vency group. He acts for insolvent corporations, creditors, bond-holders, shareholders, trustees in bankruptcy, monitors, receivers and landlords in a variety of domestic and cross-border matters under the Companies’ Creditors Arrangement Act, the Bankruptcy and Insolvency Act and the Canada Business Cor-porations Act. He has been involved in many of Canada’s recent largest domestic and cross-border restruc-turings including Sears Canada, Sino-Forest and Tervita.Career: Admitted to the Ontario Bar, 2009Personal: BA (University of West-ern Ontario); LLB (Osgoode Hall Law School); MBA (Schulich School of Business).

ZYCH, KevinBennett Jones LLP, Toronto+1 416 777 [email protected]


Practice Areas: Co-head of the firms Restructuring and Insolvency practice. Kevin’s practice focuses on debt restructurings with an emphasis on cross-border and mul-tinational insolvencies with aspects in Canada. Has acted for lenders in Sherritt International; Accel Energy; Jack Cooper Transport; Bellatrix Exploration; Concordia Healthcare; Tervita Corporation; Lightstream Resources; Connacher Oil and Gas; Twin Butte Resources; Nelson Education; OPTI Canada Inc.; Nortel; Trident Exploration Corp.; Ainsworth Lumber Co., Ltd; Kevin has acted for the borrower in Bonavista Energy Corporation; Bumble Bee/Clover Leaf Seafoods; NCSG Crane & Heavy Haul; Sanjel Corporation; Quicksilver Resources Canada Inc.; Lone Pine Resources; Sino-Forest Corporation and for estate fiduciar-ies in Toys R Us; U.S. Steel Canada Inc.; CHC Helicopter; Smurfit-Stone; Québecor World; AbitibiBowater and Dura Automotive.Career: LLB, magna cum laude (University of Ottawa); Admitted to the Ontario Bar, 1992.

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