77 King St W, Suite 400, Toronto-Dominion Ctr, Toronto, ON
Year called to bar: 1999 (ON)
John Salmas is a member of the Restructuring, Insolvency and Bankruptcy Group and the Corporate Law Group in Dentons’ Toronto office. He focuses his practice on corporate restructurings, financial services and all manner of proceedings under the Companies’ Creditors Arrangement Act (Canada) (CCAA) and the Bankruptcy and Insolvency Act (Canada) (BIA). He has advised secured and unsecured creditors along with debtors regarding their respective rights in connection with proceedings commenced pursuant to the CCAA and BIA in addition to cross-border insolvency and restructuring proceedings. He has also advised trustees, receivers, monitors and information officers in a variety of domestic and international proceedings commenced or recognized pursuant to the CCAA or BIA and in connection with Chapter 15 of Title 11 of the United States Code. John acts domestically and internationally for the insolvency arms of many national and international accounting firms and financial advisory firms in a variety of capacities in domestic, cross-border and multinational insolvency proceedings. He also acts for bondholder groups, indenture trustees and acquiring entities involved in domestic and multinational filings.
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.