333 Bay St, Suite 3400, Bay Adelaide Ctr, W Twr, Toronto, ON
Year called to bar: 1977 (ON)
Counsel. Practice includes commercial insolvency, corporate restructuring, pensions and regulatory matters, focusing on domestic/international financial institutions and on pension and employee issues in restructurings. Senior counsel to the Financial Services Regulatory Authority in the restructuring of Laurentian University and the administration of Pace Credit Union; the investor committee in the restructuring of Canadian Third Party ABCP; Monitor on Nortel Canada and Target Canada’s insolvencies; the Province of Ontario on the GM, Chrysler, Stelco, and Essar Algoma restructurings and GM IPO; the liquidators of numerous financial institutions and to Canada Deposit Insurance Corporation on bank resolution issues. Member of the Boards of Scarborough Health Network and Algoma Steel Group Inc., Chair of the Board of Trustees of the University Pension Plan Ontario and Chair of the Independent Expert Panel reviewing the Nova Scotia Teachers Pension Plan. Recognized as a leading practitioner by Lexpert, Chambers, Euromoney, IFLR 1000, Who’sWho Legal: Canada, and Best Lawyers in Canada. Recipient of the OBA Award for Excellence in Insolvency Law in 2013 and Fellow of the Insolvency Institute of Canada. Co-author of LexisNexis service on the Winding-up and Restructuring Act.
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 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.