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. Known for a solution-oriented and creative approach. Practises exclusively in commercial insolvency and restructuring matters. Extensive experience advising debtors, creditors and court officers in work-out, restructuring, receivership, and bankruptcy proceedings in both Canadian and international contexts. Recent significant matters include lead bankruptcy counsel to Rothmans, Benson & Hedges Inc in its ongoing restructuring proceedings under the Companies’ Creditors Arrangement Act, to the CannTrust Group in its recently completed CCAA restructuring proceedings, and to the Hematite Group in its successful restructuring proceedings under the CCAA. Also lead insolvency counsel to the senior secured creditors in Just Energy’s CCAA and Chapter 15 proceedings and Canadian counsel to Hertz in its successful restructuring under Chapter 15. Leading roles in other high-profile cases, including Bargain Stores, Cash Store, Chrysler, MF Global, Nortel, Skyservice Airlines and US Steel Canada.
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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.