100 King St W, Suite 1600, 1 First Cdn Pl, Toronto, ON
Year called to bar: 1993 (ON)
Cliff Prophet is a partner and leader of Gowling WLG’s national Financial Institutions Litigation Practice Group. Cliff practises in the areas of insolvency, pensions and employment benefits. He advises and represents creditors, debtors, insolvency practitioners and other stakeholders in all types of reorganization, liquidation and realization proceedings. Clifton also provides advice with respect to pensions and employment issues arising on the purchase and sale of businesses. Other aspects of his advisory practice include acting for the trustees and administrators of pension plans in connection with investment management and custody arrangements, insurance arrangements, plan mergers and transfers, surplus entitlement and the drafting of plan documentation. Clifton appears on behalf of his clients before the superior and appellate courts of Ontario and various administrative tribunals, including the Financial Services Tribunal. Cliff is qualified as a solicitor in England and Wales and spent two years practising in London, where he advised a range of clients in relation to substantial multi-jurisdictional M&A transactions. He has been recognized in Chambers Global, Chambers Canada, The Canadian Legal Lexpert Directory, TheBest Lawyers in Canada and the Legal 500 Canada.
On November 30, 2018, Essar Steel Algoma Inc. (“ESAI”) concluded its comprehensive restructuring under the Companies’ Creditors Arrangement Act by way of the sale of substantially all of its assets to Algoma Steel Inc. (“ASI”).