Brian F. Empey
Brian F. Empey
Partner at Goodmans LLP
(416) 597-4194
(416) 979-1234
333 Bay St, Suite 3400, Bay Adelaide Ctr, W Twr, Toronto, ON
Year called to bar: 1990 (ON)
Partner in the Corporate Restructuring Group. Practises in bankruptcy and insolvency, restructuring, creditor remedies, secured transactions, and structured financing, including derivatives and asset-backed securitizations. Particular expertise in CCAA restructurings and financial institution and securities firm insolvencies. Debtors advised in CCAA proceedings and cross-border restructurings include Toys “R” US (Canada), Masonite, North Star, Calpine, Kaiser Aluminum, Laidlaw, and The Canadian Red Cross Society. Advised the Pan-Canadian Investors Committee in the $32 billion CCAA restructuring of Canadian Third-Party Structured Asset-Backed Commercial Paper. Has advised creditors, committees, regulators, and court-appointed officers in such noted cases as Nortel, Comark, Maple Bank, LightSquared, MF Global, Indalex, First Leaside Securities, Octagon Capital, and Confederation Life. Recognized as a leading restructuring and insolvency lawyer by Chambers Canada, Chambers Global, Euromoney, IFLR 1000, Best Lawyers, Who’s Who Legal, and Lexpert®. Has authored articles and spoken nationally and internationally, including at INSOL and ARIL. Former Chair of OBA’s Insolvency Section. Member of the Insolvency Institute of Canada, INSOL, TMA, CLUC, and CBA. Ontario Bar (1990).
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On May 31, 2018, an affiliate of Fairfax Financial Holdings Ltd. (Fairfax) acquired all of the share capital and business of Toys “R” Us (Canada) Ltd. Toys “R” Us (Canada) Ltee (Toys Canada) for a purchase price of $300 million subject to certain working capital adjustments. The share transaction, which was completed in connection with Toys Canada’s emergence from restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA) and Chapter 11 of the U.S. Bankruptcy Code, has enabled Toys Canada to continue as a going concern without compromising creditor claims and preserved Toys Canada’s position as Canada’s leading toy and baby retailer.
Pacific West Commercial Corporation (Pacific West), an affiliate of Vancouver-based Stern Partners Inc. (Stern Partners), completed the acquisition of the business and assets of Comark Inc. (Comark). Financial terms were undisclosed.
On February 13, 2007, Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, L.P. through their indirect wholly owned subsidiary HCP Acquisition Inc. (together, Harbinger) acquired all of the outstanding trust units of Calpine Power Income Fund (the fund) it did not already own at a price of $13.00 per trust unit for total consideration of approximately $760 million.