Chris Armstrong
Chris Armstrong
Partner at Goodmans LLP
(416) 849-6013
(416) 979-1234
333 Bay St, Suite 3400, Bay Adelaide Ctr, W Twr, Toronto, ON
Year called to bar: 2008 (ON)
Partner. Practises financial restructuring, commercial insolvency, M&A, and corporate law. Represents debtors, lenders, ad hoc committees, court-appointed officers, purchasers, and other stakeholders in complex Canadian and cross-border restructurings. Recent mandates include the restructurings of Cirque du Soleil, Harte Gold, Clover Leaf/Bumblebee Seafoods, Skillsoft Corporation, Nortel, Toys “R” Us, Crystallex, Bondfield Construction, Aralez Pharmaceuticals, and DEL Equipment. Past lecturer at Western University where he taught the advanced restructuring course and member of IIC. Recognized in the areas of financial restructuring and insolvency in The Canadian Legal Lexpert® Directory, Chambers Canada, IFLR 1000, The Legal 500 Canada, Best Lawyers in Canada, Who’s Who Legal, and Expert Guides. Honoured as one of Lexpert’s Rising Stars: Leading Lawyers Under 40 in 2017.
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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.
Nortel Networks Corporation (Nortel Canada) is the Canadian parent company of what was one of the largest telecommunications businesses in the world. In early 2009, formal insolvency proceedings were commenced in Canada, the United States and England, among other places. Nortel’s worldwide business was liquidated through a number of Court-approved sales of its business units and a US$4.5-billion sale of its residual patents, resulting in US$7.3 billion of global sale proceeds to be allocated amongst the Nortel debtor companies in Canada, the United States and Europe.
On December 14, 2016, Tervita Corporation (“Tervita”), a leading environmental solutions provider, implemented its court-approved plan of arrangement under the Canada Business Corporations Act (the “Plan”).