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Expertise

Insolvency and Restructuring

Companies facing complex restructurings and insolvencies place their trust in our ability to help them navigate through business complexities, anticipate challenges, and provide practical solutions.

Successfully partnering with companies involved in many of the largest Canadian/US insolvencies enables clients to benefit from our years of experience and know-how in restructuring a company in either or both jurisdictions as well as coordinating legal proceedings in respective jurisdictions.

Creative use of insolvency techniques are helpful in structuring the affairs of financially-healthy companies. These same insolvency tools also enable strategic mergers and acquisitions as they provide a cost-efficient means of procuring and stabilizing the finances of target companies.

A number of our team members are recognized in Canada and abroad as leading lawyers by authoritative sources, including the Canadian Legal  LEXPERT Directory, Chambers Global, Euromoney, International Who's Who, and Global Counsel.

Services
  • Board fiduciary duties
  • Court-appointed trustees, monitors and receivers
  • Creditor and creditor committee advice
  • Debtor formal and informal arrangement or restructuring
  • Litigation - insolvency and restructuring
  • Oppression remedies
  • Priority disputes, fraudulent conveyances, preferences and other reviewable transactions
  • Proceedings under the Companies' Creditors Arrangement Act, the Bankruptcy and Insolvency Act and the Winding-up and Restructuring Act
  • Realization on secured assetsRestructurings using the arrangement provisions of corporate statutes

Client Work
Monessen Hearth and The Riverside Company Acquire Certain Assets of CFM

Counsel to Monessen Hearth in its acquisition of assets related to the US business conducted by CFM Corporation, including the Vermont Castings and Majestic Fireplaces brands.  More

Companies' Creditors Arrangement Act and U.S. Cross-border Proceedings Involving MuscleTech Research & Development Inc.

Ogilvy Renault acted as counsel to Iovate Health Sciences  More

Tembec Completes Recapitalization

Represented BMO, the financial advisor to Trembec's recapitalization.  More

Jetsgo Applies for Protection Under the Companies' Creditors Arrangement Act

Ogilvy Renault acted as counsel to Jetsgo Corporation in its application.  More

Protection under Companies' Creditors Arrangement Act and Appointment of Receiver

Acted as counsel to Ravelston Corporation Limited and to Lord Black of Crossharbour.  More

Stelco Inc. Restructuring

Ogilvy Renault acted as Canadian counsel to Mittal Canada Inc. in its acquisition of three operating subsidiaries of Stelco Inc.  More

Hemosol's Bankruptcy and Insolvency Act Proposal Proceedings and Companies' Creditors Arrangement Act Proceedings

Ogilvy Renault acted as counsel to PricewaterhouseCoopers Inc.  More

Company in Chapter 11 and Companies' Creditors Arrangement Act Proceedings

Ogilvy Renault acted as counsel to the lender and debtor-in-possession financier, Pliant Corporation.  More

Counsel to Lewiscraft Corporation

In connection to its Companies' Creditors Arrangement Act proceedings  More

Publications
Financed Restructurings in Canada

In an article published in Financier Worldwide, Kevin Morley and Mario Forte discuss the ways in which Canada has proven to be a fertile ground to finance restructurings, despite lacking provisions to expedite debtor-in-possession lending.  More

Canadian M&A in 2008: The After Party

Rick Sutin wrote about the M&A landscape amidst a slow American economy and a high Canadian dollar. The article appears in the 2008 Lexpert Guide to the Leading U.S./Canada Cross-border Corporate Lawyers in Canada.  More

Ogilvy Renault Annual Review 2006

2006 was an exciting year for our clients, lawyers and agents. We are particularly proud of our client-focused approach to providing service-a perspective clearly appreciated by those we serve.  More

Check the Rules of the Game When Buying a Bankrupt Business

In the past, the judicial sale of a bankrupt business allowed the purchaser to continue the operations of the business without being bound by the obligations of the bankrupt business to its employees.  More

Important Supreme Court of Canada Decision on Receiver Liability as a Successor Employer

On July 27, 2006, the Supreme Court of Canada released its decision in The Industrial Wood & Allied Workers of Canada, Local 700 v.GMAC Commercial Credit Corporation of Canada et al. dealing with, among other things, the authority of Bankruptcy Courts...  More

Supreme Court Confirms Seizure and Detention Remedies of Airport Authorities and NAV Canada

On Friday, June 9, 2006, the Supreme Court of Canada ruled that major Canadian airport authorities as well as NAV Canada were entitled to seize and detain aircraft operated by airlines that had incurred airport and air navigation charges until the ...  More

Bill C-55 - An Overview Of Certain Major Amendments

Following the bankruptcy and insolvency reform of 1997, amendments were made to the  More

Converging Practice & Procedure in Canada. A "Kinder, Gentler" Insolvency Process

In Canada, the two most notable trends over that last few years have been a continuing convergence of substantive and procedural aspects of previously distinct processes, and a movement toward a "kinder, gentler" insolvency process, which has been more...  More

Financing a Canadian Restructuring - To Dip or Not To Dip

One of the greatest challenges faced by a company which is trying to restructure its affairs through formal court proceedings is the question of how it is going to finance itself during the process.  More

Co-ordinating Foreign Proceedings with Restructurings in Canada: The Loewen Group Inc.

In the past few years, the Canadian courts have considered a number of cases in which a debtor conducting a cross-border business has filed concurrently for protection under the Companies' Creditors Arrangement Act ("CCAA") in Canada and under foreign...  More

Media Highlights
Settlement Helps Grace Move On

Ogilvy Renault got a favourable ruling for its client Grace Canada Inc. in an insolvency case lasting seven years. Lead lawyers Derrick Tay and Orestes Pasparakis are featured in the National Post.  More

Big ABCP Freeze Shows Signs of Thawing

Derrick Tay talks to EuroWeek, a magazine reporting on global capital markets, about the current state of the ABCP market in Canada, noting the restructuring solution was a good one.  More

A Mid-2008 Report On Developments In Canadian M&A And Investment Law And Practice

Rick Sutin reviews the year in business so far, including an analysis of foreign investment and shareholder activism, in the September issue of ACC Docket's Canadian Briefings.  More

Ivanhoe To Seek Leave To Appeal ABCP Ruling

Derrick Tay is quoted in the Financial Post reflecting on the decision made by the Ontario Court of Appeal.  More

ABCP Case Alters Creditor Laws

Derrick Tay talks to the Financial Post about the asset-backed commercial paper case.  More

Bankruptcy Cases Straddle Canadian, U.S. Border

Derrick Tay is quoted in National Law Journal, where he explains why he expects more cross-border bankruptcy work in the near future.  More

Insolvency on the Rise in Quebec

Derrick Tay, Co-Chair of the Insolvency and Restructuring Team, is mentioned in the Legal Post for his role as lead lawyer acting for Quebecor World in an article about the rise in insolvency cases in Quebec.  More

Canadian M&A in 2008: The After Party

Rick Sutin wrote about the M&A landscape amidst a slow American economy and a high Canadian dollar. The article appears in the 2008 Lexpert Guide to the Leading U.S./Canada Cross-border Corporate Lawyers in Canada.  More

Restructurings on the Rise in 2008-Companies That Need to Do It, Need to Plan Ahead

The number of restructurings in Canada should rise in 2008 due to the serious tightening of the credit market, according to Ogilvy Renault.  More

Top Cross-Border Lawyers and Deals: Ogilvy Renault Leads the Pack

Ogilvy Renault acted on the number one cross-border deal of 2006 according to Lexpert's Top 10 list featured in the 2007 Lexpert Guide to the Leading U.S./Canada Cross-Border Corporate Lawyers in Canada.  More

Ogilvy Renault's Experts Excel in International Ranking

Ogilvy Renault LLP is honoured to have 29 of its lawyers, adding two to this year's roster, recognized by the Chambers Global Guide to the World's Leading Lawyers 2007, a respected international legal directory.  More

Canada's Fastest Growing Law Firm, Ogilvy Renault, Welcomes New Insolvency Litigator

Ogilvy Renault today welcomed experienced litigator Matthew Halpin as a partner in the litigation group.  More