79 Wellington St W, Suite 3000, Box 270, TD Ctr, Toronto, ON
Year called to bar: 1999 (ON)
David is one of Canada’s leading insolvency lawyers. He brings highly experienced counsel in insolvency and restructuring mandates, with a focus on creative solutions and practical perspective for clients navigating distressed circumstances. As the head of Torys’ Corporate Restructuring and Advisory Practice, David regularly advises across all aspects of bankruptcy, proposals, wind-ups, liquidations, reorganizations, restructurings, receiverships and security enforcement, and advises boards of directors on corporate governance issues in distressed circumstances. He has extensive expertise in plenary and ancillary cross-border insolvency and restructuring matters, and brings a wealth of experience to commercial financing, private equity and M&A transactions. David’s long track record as corporate and litigation counsel to a wide range of parties—leading corporations, financial institutions, distressed investors and accounting firms—gives him a nuanced perspective of stakeholder interests on large, complex insolvency and restructuring transactions, helping clients navigate challenges and advance their business objectives.
In the culmination of a complex cross-border bankruptcy sales and auction process, on February 28, 2017, Performance Sports Group Ltd. (PSG) announced the completion of the sale of substantially all of its assets to an investor group led by Sagard Holdings Inc. (Sagard) and Fairfax Financial Holdings Limited (Fairfax) for US$575 million, subject to certain adjustments, and the assumption of related operating liabilities.
On December 16, 2016, Inter Pipeline Ltd. (“Inter Pipeline”) completed its acquisition of the remaining 15 per cent interest in the Cold Lake pipeline system from Canadian Natural Resources Limited (“Canadian Natural”) for $527 million, subject to closing adjustments. As a result of the acquisition, Inter Pipeline assumes 100 per cent ownership of the Cold Lake pipeline system. ...
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.
Leading infrastructure and construction materials enterprise Armtec Infrastructure Inc. and its affiliates (Armtec) completed a going-concern sale of substantially all of its assets to Armtec LP, an affiliate of Brookfield Capital Partners Fund III L.P. (Brookfield), in exchange for a release from approximately $200 million in secured debt obligations owing to Brookfield. The transaction was completed pursuant to an asset sale under the <I>Companies’ Creditors Arrangement Act</I> (CCAA).
On March 3, 2015, Sun Life Financial Inc. and BCE Inc. announced a new agreement that further advances BCE’s pension de-risking strategy by transferring longevity risk for C$5 billion of pension plan liabilities to Sun Life Assurance Company of Canada.