The Lexpert Guide to the Leading Cross-Border Litigation Lawyers in Canada ranks more Stikeman Elliott lawyers in the Insolvency and Restructuring sector than any other firm in Canada. Our reputation as a leader in the sector has been acquired by guiding many of Canada's most complex commercial restructurings to a successful conclusion. In a practice area noted for tight deadlines, conflicting agendas and complex business and legal issues, our ability to respond quickly, negotiate effectively and craft workable solutions greatly benefits our clients.

In addition to working on some of the highest profile restructuring transactions in Canadian history, including the $32 billion Asset-Backed Commercial Paper restructuring, the largest ever in Canada, and the Air Canada debtor-in-possession financing and restructuring, the largest in Canadian history at that time, our lawyers have assisted management teams across Canada, in businesses of all sizes, in protecting their interests, overcoming business challenges and seizing new strategic opportunities. Our experience includes advising both public and private companies in corporate reorganizations and restructuring, acting for debtors, creditors, accounting firms, trustees under indentures and other stakeholders, negotiating and structuring debtor-in-possession financing arrangements, advising on enforcement of security and acquisition or divestiture of insolvent or distressed assets.

Recognition for Our Work

Stikeman Elliott's experience in major insolvencies is reflected in leading reputational surveys and the Group and its members are cited as Canadian leaders in global legal directories and publications such as Chambers Global, IFLR1000, the Lexpert/American Lawyer Media Guide to the Leading 500 Lawyers in Canada, and Euromoney's Guide to the World's Leading Insolvency and Restructuring Lawyers. The International Who's Who of Insolvency & Restructuring Lawyers 2011 ranks David Byers and Jean Fontaine as leading lawyers. Chambers Global ranks Toronto partners David Byers, Liz Pillon and Ashley Taylor as leading Canadian lawyers in this field.  David Byers and Ashley Taylor are ranked in Euromoney's Guide to the World's Leading Insolvency and Restructuring Lawyers. The current edition of IFLR 1000 notes that "They come up with constructive workable solutions to problems. There is never a problem they don't seem to be able to find some fix or solution to." The publication further cites David Byers, Jean Fontaine and Ashley Taylor as leading lawyers in the sector. The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada lists Toronto partner David Byers in the Insolvency and Financial Restructuring practice area.  The Canadian Legal Lexpert Directory ranks David Byers as among the "most frequently recommended" insolvency litigators in the Toronto market and Ashley Taylor as "repeatedly recommended". Jean Fontaine is listed as a "consistently recommended" insolvency practitioner in the Montréal market.

Recent Group Activities

Firm sponsors CAIRP program
Stikeman Elliott is sponsoring the Canadian Association of Insolvency & Restructuring Professionals' 8th Annual Commercial Insolvency and Restructuring Program, being held March 28, 2012 in Toronto.

Insolvency partners particpate in ARIL conference
Sean Dunphy is a panel member on "The Implications of Indalex" and Liz Pillon is speaking on "Creditors' Committees-Do They Add Value?" at the 9th Annual Review of Insolvency Law conference being held on February 10, 2012 in Vancouver.

Insolvency lawyers recognized by Lexpert 
Sean Dunphy, David Byers, and Jean Fontaine of the firm's Insolvency Group are recognized as leading lawyers in Lexpert's Special Edition on Insolvency and Restructuring, November 2011.

Insolvency lawyers recognized by Who's Who Legal
Sean Dunphy, David Byers, and Jean Fontaine of the firm's Insolvency Group are ranked as leading laywers in The International Who's Who of Insolvency & Restructuring Lawyers 2011, with Sean Dunphy being cited as one of the top 10 insolvency and restructuring lawyers in the world.

Firm sponsoring IWIRC conference
Stikeman Elliott will be a sponsor at the International Women's Insolvency and Restructuring Confederation Fall Conference, taking place October 11 - 13 in Tampa, FL. Elizabeth Pillon and Nancy Ramalho of the Bankruptcy, Insolvency and Restructuring Group will be attending.

Indalex Restructuring
The firm acts for the Court-appointed Monitor of Indalex Limited and related entities in its ongoing CCAA proceedings. (Legal team: Ashley Taylor and Lesley Mercer)

Stikeman Elliott restructuring receives TMA award
The global restructuring of AbitibiBowater Inc. undertaken by the firm's Bankruptcy, Insolvency & Restructuring Group was named "Turnaround of the Year 2010" by the Turnaround Management Association. The $6 billion global restructuring process involved an unprecedented number of cross-border implications and many challenges in finding an equitable way to apply the sometimes divergent Canadian and US laws. Click here for a summary of the restructuring, including the Group's legal team involved.

IFLR Law Firm of the Year
Stikeman Elliott has been named the 2011 Canadian Law Firm of the Year by the International Financial Law Review, on the strength of its rankings in M&A, Corporate Finance, Banking, Restructuring and Project Finance.

Priszm Income Fund filing
The firm acted for Priszm Income Fund in respect of its filing under Companies' Creditors Arrangement Act and the additional financing related thereto.