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.

• Chambers Global ranks Toronto partners David Byers, Sean Dunphy, Liz Pillon and Ashley Taylor as leading Canadian lawyers in this field. 

• Sean Dunphy is 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 Sean Dunphy, 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 partners David Byers and Sean Dunphy in the Insolvency and Financial Restructuring practice area.  

• The Canadian Legal Lexpert Directory ranks David Byers and Sean Dunphy among the "most frequently recommended" insolvency litigators in the Toronto market and Ashley Taylor as "repeatedly recommended". Sean Dunphy is also ranked as "most frequently recommended" in the corporate restructuring field. Jean Fontaine is listed as a "consistently recommended" insolvency practitioner in the Montréal market.

Recent Group Activities

Canwest Global Communications Corp. restructuring
Stikeman Elliott is acting for the Monitor in CCAA proceedings.

AbitibiBowter restructuring
Stikeman Elliott is acting for the AbitibiBowater Group in its global restructuring under the CCAA and United States law.

Smurfit-Stone restructuring
Stikeman Elliott is Canadian counsel in the restructuring of packaging and recycling company Smurfit-Stone.

ABCP Restructuring
Stikeman Elliott is acting for a group of seven foreign bank asset providers in the $32 billion third party asset-backed commercial paper CCAA restructuring, the largest restructuring  in Canadian history. The plan of arrangement was recently sanctioned by the Ontario Superior Court of Justice.

Paper available on Pensions at Work
Ashley Taylor, a member of the Insolvency Group, and Andrea Boctor, a member of the Employment, Labour & Pensions Group, co-authored a paper on "Pensions at Work: Employer Insolvency and the Pension Plan" which was presented at the OBA Pensions and Benefits Programme on February 5, 2008.