James D. Gage
James D. Gage
(416) 601-7539
(416) 868-0673
66 Wellington St W, Suite 5300, TD Bank Twr, Toronto, ON
Year called to bar: 1993 (ON)
Chair of the firm’s National Bankruptcy & Restructuring Group, located in the firm’s Toronto office. Practises in the areas of bankruptcy, insolvency, and restructuring and has extensive experience advising creditors and debtors in informal work-out and restructuring matters, as well as formal CCAA and other insolvency proceedings, in both Canadian and international contexts. Also represents acquirers of, and financiers to, distressed businesses. Significant matters in recent years include acting as lead bankruptcy counsel to Rothmans, Benson & Hedges Inc. in its restructuring proceedings under the Companies’ Creditors Arrangement Act and to US Steel Canada Inc. in its successful restructuring proceedings under the CCAA. Also lead insolvency counsel to one of the largest creditors in Nortel's global restructuring proceedings. Recognized in the current editions of Chambers Global: The World’s Leading Lawyers for Business, Chambers Canada, and The Best Lawyers in Canada as a leading lawyer in the area of restructuring and insolvency. Received the 2017 Lexology Client Choice Award in the Insolvency and Restructuring Category (Ontario). Admitted to the Ontario Bar in 1993.
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Ontario’s leading insolvency and financial restructuring lawyers in 2021
Lexpert puts the spotlight on Ontario’s leading insolvency and financial restructuring lawyers
On January 10, 2019, a consortium consisting of Air Canada, Toronto-Dominion Bank (“TD”), Canadian Imperial Bank of Commerce (“CIBC”) and Visa Canada Corp. (“Visa”) announced the successful closing of its purchase of Aimia Canada Inc., owner and operator of the Aeroplan Loyalty Business, from Aimia Inc.
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.
Essar Steel Algoma Inc. (Algoma) concluded its comprehensive US$1.4 billion recapitalization and refinancing. Algoma restructured certain of its existing debt obligations by way of a plan of arrangement under the CBCA and refinanced its outstanding debt through concurrent Term Loan, ABL, High Yield Debt and Junior Notes financings.
On January 22, 2010, Ford Credit Canada Limited (FCCL) completed a retail loan securitization transaction, receiving proceeds of approximately $510 million.