Insolvency & Restructuring
There are many reasons why a business can find itself unable to pay its obligations as they fall due. Perhaps a short-term or seasonal cash crunch has left the business unable to meet its obligations temporarily. Maybe economic factors beyond anyone’s control have caused a company to be offside of financial covenants to the bank. Similarly, fraudulent activity by a partner, employee or customer can have disastrous financial consequences for any business.
What is certain is that financial difficulties almost always create a domino effect on a business and its stakeholders. The Board of Directors of the insolvent company, its bank or other lender, secured and unsecured creditors, suppliers and customers will all, to varying degrees, require clear and timely specialized legal advice that only an experienced insolvency specialist can provide. Whether the matter involves bankruptcy or receivership proceedings, reorganization and restructuring, or a sale of assets or enforcement of security, and whether our client is a creditor or a debtor, Torkin Manes’ Insolvency, Restructuring and Corporate Debt Recovery Group works efficiently and cost-effectively to bring about the best resolution in the circumstances.
Our team provides sophisticated corporate recovery advice to all categories of stakeholders, in every type of restructuring undertaken in Canada. We act for national and international banks and other financial institutions, companies in financial difficulty, court-appointed monitors, receivers, liquidators, trustees in bankruptcy and any other client faced with legal implications of an insolvency. Our clients include asset-based lenders, factoring companies, mezzanine funds, subordinated lenders, project finance lenders, and private lenders. We have handled cases involving most sectors of the economy, including real estate development, cannabis cultivation and processing, technology, pulp and paper, mining, manufacturing, pharmaceutical, distribution, entertainment, and construction.
Our extensive experience representing all sides of an insolvency case gives us an advantage in anticipating how other participants in the proceeding will respond, allowing us to clearly explain to our clients what is likely to happen several steps ahead. In addition, as part of a full-service firm, we can call upon the expertise of our colleagues in Mergers & Acquisitions, Commercial Real Estate, Tax, Labour & Employment and other practice areas that may be needed in completing a restructuring transaction.
We focus on finding creative, practical solutions for clients facing the complex issues that inevitably arise during the course of private or court-protected restructuring proceedings. We pride ourselves on our ability to explain complex technical issues clearly, turn around documents quickly and cost-effectively, and advocate vigorously on our clients’ behalf.
Some of our many services include:
- Acting for trustees, receivers and monitors
- Commercial real estate restructurings
- Corporate recovery
- Creditors’ remedies
- Insolvency litigation
- Investigative litigation
- Landlord restructurings
- Non-insolvency receiverships, including oppression remedies
- Reorganization and restructuring
- Security realization
- Statutory arrangements