199 Bay St, Suite 5300, Commerce Court West, Toronto, ON
Year called to bar: 1994 (ON)
Elizabeth (Liz) Pillon is a partner in the Litigation & Dispute Resolution Group and Head of Toronto’s Restructuring & Insolvency Group. Her restructuring and insolvency practice primarily involves Ontario-based restructurings, Companies’ Creditors Arrangement Act (CCAA), receivership and bankruptcy proceedings, and cross-border insolvency proceedings. She represents debtors, Court Officers, secured creditors, purchasers of distressed assets, and administrators, and she has been appointed by the Court to act as representative and independent counsel in insolvency proceedings. She frequently appears before the Ontario Commercial List and has had the opportunity to appear before Courts in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, and Québec in restructuring matters. Liz is a member of the Insolvency Institute of Canada (IIC), the Turnaround Management Association (TMA), the International Women’s Insolvency Restructuring Confederation (IWIRC), The Advocates' Society, and the International Insolvency Institute (III). Her expertise has been recognized in Chambers Canada, Chambers Global, The Best Lawyers in Canada, and The Canadian Legal Lexpert® Directory, among others.
On June 30, 2017, Stelco Inc. (Stelco), formerly U.S. Steel Canada Inc., emerged from Companies’ Creditors Arrangements Act (CCAA) proceedings through the implementation of a CCAA plan. This involved the compromise of more than $2 billion of debt and the restructuring of approximately $2 billion of pension and benefit obligations.
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.
Stikeman Elliott is acting as Canadian counsel to Castings Acquisition Corp., an affiliate company of The Carlyle Group, a major private investment fund based in Washington, D.C., in its proposed acquisition (by way of plan of arrangement), of all of the outstanding common shares of Tritech Precision Inc. and all of the outstanding Class A common shares of Trimin Enterprises Inc.