Summary Section Content 1BLG's Insolvency and Restructuring Group is one of Canada's leading restructuring, workout, bankruptcy and insolvency practices. With professionals in each of Canada's major centers, and professionals with decades of restructuring experience, we have the national strength and local knowledge to vigorously represent and protect the interests of our clients — wherever the matter is centred. Our Services With experience in all manner of restructurings, we can navigate any financial turmoil, and assist in guiding our clients through difficult times with a view to preserving and maximizing value. Our experience includes: Bankruptcies Capital restructurings Credit Amendments Fraudulent conveyances and preferencesChapter 11 cases in conjunction with CCAA proceedings Forbearances Informal restructuringsLiquidationsOperational restructuring Plans of arrangement Main CCAA proceedings in conjunction with Chapter 15 proceedingsPlans of compromise Proposals Pre-packaged plansReceiverships Re-Financings Our experience includes acting for a range of stakeholders impacted by insolvency proceedings, including: Boards of Directors Bondholders CreditorsDebtors DIP Lenders Distressed Investors Liquidators MonitorsPrivate EquityProtection Funds Purchasers Receivers TrusteesTurnaround companies Special committeesIndustries Our group has acted in insolvency matters in a broad range of industries including: AgricultureAirlines ConstructionEnergy Financial ServicesForestry Manufacturing Mining Oil and Gas Retail Transportation Telecommunications Publications & Presentations Section Content 2Publications & Presentations Author, "Canada: Restructuring & Insolvency", The In-House Lawyer, June 2018. Author, "Join the Party! An Overview of the Case Law on Representation Orders in Canadian Insolvency Proceedings", International Corporate Rescue, 2017. Speaker, Canadian Bar Association – Insolvency Section "Exempt Markets and Insolvency: An Intersection of Securities and Insolvency Laws" September 2017.Co-Author, "Alberta Courts Confirm Restructuring Transactions With Select Creditors Not Oppressive," National Insolvency Review, August 2017.Author, "Receivers and Trustees Have the Right to Disclaim Uneconomic Assets: Alberta's Redwater Case," Commercial Insolvency Reporter, June 2017.Speaker, Annual Conference of the Conseil des syndics de faillite, 2016.Speaker, "Building Efficiency Gains in Lending," BLG's Financial Services Group National Symposium, October 2016.Co-Author, "AER Signals Stringent Approach to Issuance of Reclamation Certificates," The Resource: BLG Energy Blog, October 2016.Co-Author, "The New Federal Carbon Pricing Policy – Roadmap to a Pan-Canadian Energy Strategy?" The Resource: BLG Energy Blog, October 2016.Co-Author, "Replacing An Insolvent Operator – Court Upholds CAPL 'Immediate Replacement' Right," The Resource: BLG Energy Blog, September 2016.Co-Author, "The New Federal Carbon Pricing Policy – Roadmap to a Pan-Canadian Energy Strategy?" BLG Environmental Law Newsletter, September 2016.Co-Presenter, "Où en sommes-nous rendus dans le domaine de la construction," Financial Restructuring, Insolvency & Bankruptcy conference, Open Forum, September 2016."Shareholder Rights in Insolvency: A Canadian Perspective" – World Bank Community of Practice Corporate Governance and Shareholders Rights Project, September 2016Author, "Alberta Court of Appeal Grants Intervener Status to Four Participants in Appeal of Re Redwater Energy Corp.," The Resource: BLG Energy Blog, August 2016.Co-Author, "Alberta Energy Regulator Reiterates Position on Interim Measures post-Redwater but Indicates Some Flexibility on 2.0 LMR Requirement," The Resource: BLG Energy Blog, July 2016.Co-Author, "Alberta Court of Queen’s Bench Clarifies the Test for Extending a Limitation Period for an Environmental Contamination Claim," The Resource: BLG Energy Blog, June 2016.Presenter, "Redwater's in Hot Water: Can the Canadian Insolvency Regime Provide a Practical Way Out?", American Bar Association Spring Conference – International Section, April 2016.Speaker, American Bar Association Spring Conference – International Insolvency and Secured Transactions Committee, "How Many Lawyers Can Fit on the Head of a Drilling Rig and Other Questions to Ponder in Oil and Gas Industry Insolvencies", April 2016.Speaker, "Top 10 Legal Risks for Business," RBC Client Seminar, February 2016.Co-Author, "2016 Year in Review: Top 10 Judicial Decisions and Trends of Import to the Canadian Energy Industry," The Resource: BLG Energy Blog, January 2016.Author, "Testifying Experts: Current Practice and Its Faults," Commercial Litigation and Arbitration Review, 4 CLAR 2015.Co-Author, "Foreign Non-Main Proceedings and the Public Policy Exception — A Comparison of Canadian and American Insolvency Regimes,", Annual Review of Insolvency Law, 2015 Author, “Receiverships, CCAAs and Bankruptcies Explained (It may not be as bad as you think),” The Negotiator (CAPL Publication), December 2015.Speaker, "Securities 101," BLG U, September 2015.Co-Author, "Restructuring and Insolvency in Canada: Overview," Practical Law, October 2015 Presenter, "Revue de la jurisprudence en matière de faillite et d'insolvabilité 2014," Young Bar Association of Montréal, Montréal, May 2015.Panelist, "Financial Fraud in Québec: the Norbourg Cases," Annual Review of Insolvency Law Conference, Toronto, February 2015.Co-Author, "Processus de liquidation et plans d'arrangements en vertu du droit des compagnies ou des sociétés," Fascicule 23, JurisClasseur Québec – Faillite, insolvabilité et restructuration, 2010, updated in 2014.Co-Author, "Lien on Me: The Comstock Story - Creative Approaches to Restructurings in the Construction Sector," Annual Review of Insolvency Law, 2014 Co-Author, "Cross-border lending in Canada," LexisPSL Banking and Finance Guide, 2014.Author, “Canada’s Aging Oil and Gas Infrastructure: Who Will Pay? The Public and Private Cost Recovery Framework,” Alberta Law Review Volume 52, No. 2, December 2014."Financial Fraud in Québec: the Norbourg Cases," Annual Review of Insolvency Law, Carswell, 2014.Co-Author, "Alberta Environmental Monitoring Agency Operational," The Resource: BLG Energy Blog, June 2014.Speaker, "Bitcoins: What Are They and What Are the Legal Implications of Using Them?" BLG U, May 2014.Presenter, "Bilan jurisprudential en matière de faillite commerciale 2013," Canadian Bar Association in Montréal, May 2014.Author, "Insolvency and Environmental Liabilities," The Resource: BLG Energy Blog, February 2014.Presenter, 2014 Insight Conference: Major Business Agreements, Topic: Managing Litigation Risks.Author, "Alberta Environmental Monitoring Agency is Now Operational," BLG Environmental Law Newsletter, Spring 2014.Author, "The Ongoing Saga of the Sage Grouse," BLG Environmental Law Newsletter, Spring 2014.Co- Author, "Provincial Legislation is of Paramount Importance: The Doctrine of Supreme Court of Canada's Recent Interpretation of the Doctrine of Paramountcy," International Corporate Rescue, Volume 13, Issue 4.Volunteer Editor, British Columbia Personal Property Security Act Practice Manual.Co-Author, "À la croisée des chemins : certains impacts du régime de la faillite et de l'insolvabilité en matière de divorce et de décès," Cours de perfectionnement du notariat 2016, Chambre des notaires du Québec / Éditions Yvon Blais, no 2, p. 291-315.Co-Presenter, Licensee Liability Ratings and Stakeholder Exposure in Insolvency. Author, “Solicitor-Client Privilege: Who Carries the Shield? A Case Commentary on Re Bre-X Minerals 15 Years Later”, 2015 Annual Review of Insolvency Law 547. Speaker, 90th session of the Cours de perfectionnement du notariat.Presenter, "Ordonnances de sauvegarde et recours hypothécaires," Canadian Bankers Association.Presenter, "New Approaches to Landlord-Tenant Disputes," International Conference of Shopping Centers. Presenter, "Réforme du Code civil – Recours hypothécaires – Mise à jour de la jurisprudence," The Toronto-Dominion Bank, Business Division (Québec).Presenter, "Due Diligence in Real Estate Transactions," Risk Management Association. Presenter, "Saisissable des REER," Canadian Association of Insolvency and Restructuring Professionals (CAIRP). Presenter, "Programme de protection des salariés — de l'incohérence à la cohérence," Canadian Institute. Presenter, "Maîtriser les nouveaux développements en matière de priorités et supériorités pour protéger vos intérêts financiers et traduire les changements à la Loi sur la faillite et l'insolvabilité," Canadian Institute's 6th Advanced Conference on Financing and Security.Co-Editor, chapter on creditors' rights and remedies for Bar Admission Course materials. Co-Author, paper on Debtor-in-Possession Financing. Author, paper on Corporate Governance: Directors and Officers and Insolvency.Author, paper dealing with an overview of insolvency proceedings in Canada.Author, a number of case comments for the Insolvency News Newsletter published by the Insolvency Section of the Ontario Bar Association.Co-Author, case comment on The Role of Fairness Opinions in Plans of Arrangement.Client Bulletins "Supreme Court of Canada to Rule on CRA Superpriorities," April 2018."Join the Party! An Overview of the Case Law on Representation Orders in Canadian Insolvency Proceedings," November 2017."New and Bold Decision by the Ontario Superior Court of Justice… Who Madoff with the Money," July 2017."Chambre de la sécurité financière v. Thibault 2016 QCCA 1691," December 2016."Fraudulent Misrepresentation To Receivers and Beyond: Meridian Credit Union Limited v Baig," September 2016. Representative Work Section Content 3We have represented clients in a variety of industries, and a variety of roles, including: Financial Services Counsel to the court-appointed Liquidator responsible for the winding-up of the business in Canada of Maple Bank GmbH — the first Authorized Foreign Bank liquidation in Canada. Counsel to the trustee in bankruptcy of MF Global. Counsel to the senior secured lender to an Ontario based mortgage lender in contested receivership proceedings and, ultimately, a successful credit bid. Counsel to the court-appointed monitor (Ernst & Young Inc.) in the CCAA proceedings relating to the restructuring of $35 billion in the Third Party Asset-Backed Commercial Paper matter, the largest restructuring proceedings in Canadian history. Counsel to the court-appointed liquidator (Ernst & Young Inc.) in the Norbourg mutual fund liquidation. Counsel to the trustee in bankruptcy (Ernst & Young Inc.) of Rampart Securities Inc., a complex securities firm bankruptcy. Counsel to the independent directors and trustees in the Heating Oil Partners Section 18.6 CCAA proceedings (the first income trust-related filing in Canada). Manufacturing Counsel to the Debtor/Foreign Representative of the Modular Space Corporation and affiliated companies in their Chapter 11 proceedings and CCAA Part IV proceedings. Counsel to the court-appointed Receiver and Manager (Deloitte) of Contech Enterprises, a producer of environmentally friendly pet and garden products. Counsel to a syndicate of senior secured lenders led by the Bank of Montreal in connection with the Plan of Arrangement by Mega Brands Inc. under the Canada Business Corporations Act. Counsel to insurers in Part IV CCAA application to have US proceedings and Plan of Reorganization by Durabla Canada Ltd. and Durabla Manufacturing Company recognized in Canada. Counsel to the senior secured lenders to the Cover-All group of companies in their CCAA, receivership and Chapter 15 proceedings. Counsel to a creditor and the DIP Lender (Chrysler LLC) in the Collins & Aikman CCAA proceedings. Counsel to the senior secured creditors and DIP lenders (Bank of Montreal, Laurentian Bank of Canada and GE Financial) in the CCAA proceedings relating to Roman Corporation Limited, a public paperboard manufacturer. Oil and Gas Counsel to the court-appointed Monitor (PricewaterhouseCoopers) of the Sanjel Group of companies in connection with its proceedings under the CCAA and related proceedings under Chapter 15. Counsel to the court-appointed Monitor and Receiver (PricewaterhouseCoopers) of Southern Pacific Resources Corp. in connection with its proceedings under the CCAA, and later receivership. Counsel to the court-appointed Receiver (Ernst & Young) of Telsa Exploration Ltd. in connection with its receivership proceedings. Counsel to primary the secured creditor of Nordegg Energy Resources Ltd., resulting in the court-appointment of a Receiver. Counsel to the court-appointed Monitor and Receiver (Hardie & Kelly Inc.) of Quattro Exploration and Productions Ltd. in connection with its proceedings under the CCAA and later receivership. Counsel to the court-appointed Receiver (Ernst &Young) of Spyglass Energy Ltd., including realizing on its pol and gas assets and management of a complex claims process. Counsel to a syndicate of lenders of a significant oil and gas construction service provider in connection with an attempted out-of-court restructuring and eventually receivership proceedings. Counsel to the primary secured creditor of Bumper Development Corporation Ltd., including out-of-court efforts to restructure and ultimately appointment of a receiver. Real Estate Counsel to the court-appointed Receiver (Ernst & Young) of the Oak Bay Beach Hotel, a luxury hotel and residence development in Victoria. Counsel to the court-appointed Receiver (PricewaterhouseCoopers) in connection with the CCAA proceedings of the Calgary East Village Housing Society. Counsel to the Canadian landlord of Heli-One Canada Inc. in connection with the CHC Helicopter Group's Chapter 11 and CCAA Part IV proceedings Counsel to a secured creditor in connection with realization proceedings and ultimately appointment of a receiver over the operations of a seniors housing business. Counsel to the court-appointed liquidator (KPMG Inc.) of two solvent real estate companies arising from shareholder deadlock. Telecommunications Counsel to a secured creditor and critical supplier (the Bell Canada group of companies) in the CCAA proceedings of a 8640025 Canada Inc. (formerly Teliphone Navigata-Westel Communications). Mining Counsel to the Debtors (the Veris Gold Group) in CCAA and Chapter 15 proceedings to restructure debt (in excess of US$200 million), capital structures and operations. Counsel to the primary secured creditor and interim-financing lender of North American Tungsten Corporation, a company engaged in exploration, development and production of tungsten concentrate. Counsel to the Information Officer (Ernst & Young) in the CCAA Part IV proceedings of the Midway Gold Group. Counsel to the court appointed monitor (PricewaterhouseCoopers Inc.) in the CCAA proceedings of Cross Lake Minerals Ltd., a British Columbia gold mine. Counsel to secured creditors of The Bloom Lake Iron Ore Mine Limited Partnership om connection with its CCAA proceedings and eventual sale transaction. Energy Counsel to the purchaser of Walter Energy Canada Inc. in its CCAA proceedings, resulting in a share-purchase by BLG's client (Amacon Land Corporation). Counsel to the court-appointed monitor in the CCAA proceedings of Laricina Energy, including playing an integral role in negotiations with stakeholders that allowed for its successful exit from CCAA. Counsel to the court-appointed monitor (Ernst & Young Inc.) in the CCAA proceedings of the SemCanada Group. Counsel to the court-appointed monitor (Ernst & Young Inc.), the court-appointed monitor in the Calpine CCAA proceedings. Counsel to the Debtor (NEMI Northern Energy & Mining Inc.) in its CCAA restructuring and resulting Peace River Coal partnership with Anglo American plc. Forestry Counsel to the senior lender and DIP lender (Bank of Montreal) in the cross-border CCAA and Chapter 11 proceedings relating to CFM Corporation. Retail Counsel to the Debtor (Groupe Bikini Village Inc.) in connection with its out-of-court sales process effort, and eventual sale in the context of a Bankruptcy and Insolvency Act proceeding, resulting in full payment of the secured creditors, dividends to unsecured creditors and maintaining several hundred jobs. Counsel to the Debtor (Mariposa Stores Limited Partnership), a national woman's clothing retailer, in its CCAA proceedings and the Chapter 11 bankruptcy proceedings of its sister corporation in the US Pacific Northwest. Counsel to the Debtor (SAAN Stores Limited), a national chain of department stores, in its CCAA/BIA proceedings. Counsel to the court-appointed monitor (KPMG Inc.), in the Bombay Furniture CCAA proceedings. Transportation Counsel to the Debtor/Foreign Representative of Hanjin Shipping Co. Ltd. in connection with its CCAA Part IV proceedings recognizing proceedings in the Seoul Central District Court pursuant to the Debtor Rehabilitation and Bankruptcy Act (Korea).Airlines Counsel to the debtor (Wasaya, a First Nations airline) in connection with its proposal pursuant to the Bankruptcy and Insolvency Act. Canadian enforcement counsel to the Swiss Liquidator of Swissair Transport Company Ltd. in connection with the Liquidator's efforts to collect amounts.Forestry Counsel to a creditor (West Face Capital Inc.) of Grant Forest Products Inc. in connection with an application to lift the stay of proceedings under the CCAA in order to pursue a bankruptcy order.Pulp and Paper Counsel to the senior secured noteholders owed approximately $450 million in the AbitibiBowater CCAA proceedings. Construction Counsel to a surety company (Aviva Canada Ltd.) in connection with a construction bond facility provided to the Hexagone group of companies – the largest civil engineering construction company in Québec. Counsel to the CCAA monitor and court-appointed Receiver (Ernst & Young Inc.) in connection with the Atcon group of companies, which was engaged in which was engaged in construction and related activities in New Brunswick, Newfoundland, Alberta and elsewhere. Agriculture Counsel to the senior secured lenders in connection with successful CCAA proceedings in Saskatchewan and Chapter 15 proceedings relating to Big Sky Farms. Rankings & Recognitions Section Content 4BLG's insolvency and restructuring group is consistently recognized as one of the best in Canada, with consistent high rankings in various publications including:The 2018 (and since 2017) edition of The Legal 500 Canada.The 2018 (and since 2017) edition of The Lexpert®/American Lawyer Guide to the Leading 500 Lawyers in Canada. The 2018 edition of IFLR 1000 — The Guide to the World's Leading Financial Law Firms.The 2018 edition of The Canadian Legal Lexpert® Directory. The 2017 edition of Chambers Global — The World's Leading Lawyers for Business. The 2017 edition of Chambers Canada — Canada's Leading Lawyers for Business.The 2017 edition of Benchmark Canada — The Definitive Guide to Canada's Leading Litigation Law Firms and Attorneys. Eight members of our Group are members of the Insolvency Institute of Canada, a by-invitation interdisciplinary association of leading commercial insolvency and restructuring practitioners from across Canada.