Restructuring/Insolvency
Canada Guide 2025 : Nationwide - Canada
Band 4
Contact number
+1 416 862 7525About
Provided by Gowling WLG (Canada) LLP
Whether a company needs early- or late-stage restructuring advice or a secured or unsecured creditor needs immediate counsel, Gowling WLG works to resolve issues quickly, pragmatically and cost-effectively.
As one of the largest groups of its kind in Canada, we've developed a significant practice for creditors and debtors alike, with a high level of expertise in cross-border insolvencies and restructurings.
Gowling WLG expertly represents creditors, debtors, receivers, trustees, monitors, acquirers, suppliers, customers and other restructuring professionals and stakeholders.
Our services include:
· Advising on early stage financial and operational restructurings
· CCAA and BIA proposal proceedings
· Bankruptcy and liquidation proceedings
· Enforcing guarantees and security
· Negotiating forbearance and accommodation arrangements
· Advising on insolvency risks in structured transactions
· Mitigating lender liability issues
· Assessing directors’ liability
· Advising regulatory agencies on regulatory compliance
· Distressed M&A
· Structuring and executing sales process
· Creditor, supplier and customer negotiations
· Retaining investment bankers and advisers to assist in the distressed M&A process
· Sourcing, negotiating and documenting interim and permanent financing solutions
· Corporate restructuring, including cross-border and multi-jurisdictional restructurings
Chambers Review
Gowling WLG provides comprehensive restructuring and insolvency expertise across its Canadian offices, including substantial insolvency litigation capabilities. The group fields a strong national practice, with significant strength in Toronto complemented by its Calgary, Montréal and Vancouver offices, and has notable cross-border experience handling mandates that concern the US Bankruptcy Code. The team advises debtors, receivers and court-appointed monitors on bankruptcies and receiverships across various industries, including oil and gas, retail, agriculture and financial services. It also regularly acts as counsel to several major Canadian banks.
Work Highlights
- Gowling acted on behalf of Callidus Capital Corporation, in its role as senior lender, over claims of wrongful lending practices brought by the former entities Bluberi Gaming Technologies and Blueberi Group.
Strengths
Provided by Chambers
"The insolvency lawyers at Gowling are knowledgeable and well experienced. The service level and responsiveness are excellent."
"Gowling are excellent at situational analysis and strategy assessment. The team make themselves available based on client needs and timelines."
"Gowling are technically strong, with an excellent grasp of relevant trends and case law. The team is on top of current trends and tailors solutions to meet the issues and problems at hand."
"The insolvency lawyers at Gowling are knowledgeable and well experienced. The service level and responsiveness are excellent."
"Gowling are excellent at situational analysis and strategy assessment. The team make themselves available based on client needs and timelines."
"Gowling are technically strong, with an excellent grasp of relevant trends and case law. The team is on top of current trends and tailors solutions to meet the issues and problems at hand."
Notable Practitioners
Clifton Prophet heads the firm's financial institutions litigation group. He has a broad range of experience in major insolvency proceedings.
"Clifton is an exceptionally strong advocate."
"Clifton Prophet works through complex issues in a simplifying way and his legal, technical and analytical abilities are very strong."
"Clifton has gravitas and presence. He has the ability to control the room."
"Cliff is an excellent insolvency lawyer."
Toronto-based Virginie Gauthier has a broad practice which includes offering advice to information officers, debtors and financial institutions on an array of high-stakes insolvency matters.
"Virginie proved to be a real partner during the process and was instrumental in our successful completion of the matter."
"Virginie is a very competent lawyer, who is always available for her clients and has a very hands-on approach."
David Cohen has a financial sector focus, leading the financial institutions and services practice within Gowling, and regularly acts for lenders on restructuring and insolvency matters.
"David has an extensive knowledge of restructuring in Canada."
"David is a very strong commercial and strategic thinker. He's great at coming up with tactics."
"David Cohen has a strong appreciation for deals and understands where clients are coming from in a commercial sense."
Thomas Cumming leads the Gowling WLG restructuring and insolvency group in Calgary. He assists creditors and debtors, among others, with CCAA proceedings.
"Thomas Cumming is a brilliant person and great for anything challenging."
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Gowling WLG (Canada) LLP
Nationwide - Canada
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