Three Stikeman Elliott lawyers speak with The Globe and Mail on the pandemic-related increase in Canadian insolvencies

August 21, 2020

Chrysten Perry, Managing Partner of Stikeman Elliott’s Calgary office, and restructuring and insolvency lawyers Elizabeth Pillon and Karen Fellowes were featured in an article from The Globe and Mail about Canadian business law firms that are preparing for a wave of insolvency work when COVID-19 relief measures end.

Most recently, Stikeman Elliott’s Restructuring & Insolvency Group welcomed Karen Fellowes  as senior counsel in Calgary, to head the team working with businesses in Western Canada. The firm's decision to hire Karen was a strategic one, brought on by a growing number of clients looking to mitigate risk while navigating Canada’s evolving restructuring landscape. Chrysten Perry said the collapse of oil prices in March and a decrease in consumer demand brought on by the pandemic "created the perfect storm here [in Alberta]."

Karen’s strong track record of excellence, as well as her expertise in the energy sector, make her a valuable addition to the Calgary team. As more Canadian businesses are pushed to take increasingly drastic measures, including bankruptcy or creditor protection filings, the Restructuring & Insolvency Group continues to increase the breadth and scope of its offering to meet the needs of clients. The firm’s investments in people, tools and processes fits Stikeman Elliott’s commitment to provide the highest level of expert advice and client service.

"It's the busiest I've seen our group since 2008," said Elizabeth Pillon, who leads the Restructuring & Insolvency Group in Toronto. Elizabeth also noted that after widespread shutdowns in March, the firm saw a significant increase in advisory work as businesses sought information on government aid and help renegotiating financing terms with banks and other lenders.

Stikeman Elliott’s award-winning national Restructuring & Insolvency Group has built its reputation as a leader in the sector by guiding many of the most noteworthy commercial restructurings in Canadian history to a successful conclusion. The group’s multidisciplinary approach leverages expertise in litigation, banking, M&A, pensions, employment, securities, tax and regulatory law. The group services files and clients across the country out of offices in Montréal, Toronto, Calgary and Vancouver, with lawyers leading major restructuring processes in each market.

For more on Stikeman Elliott’s Restructuring & Insolvency Group, click here.