Marc Wasserman
Marc Wasserman
(416) 862-4908
(416) 862-6666
100 King St W, Suite 6200, 1 First Cdn Pl, PO Box 50, Toronto, ON
Year called to bar: 2001 (ON)
Marc is the National Chair of Osler’s Insolvency and Restructuring Group. Marc practises corporate and commercial law in the areas of corporate restructuring, financial services, and private equity. He has been involved in many complex corporate recapitalizations, reorganizations, and restructurings and related acquisitions, divestures, financings, and governance matters. He has expertise in national, cross-border, and international matters acting for major debtor corporations, bondholders, equity sponsors, senior lenders, monitors, and acquirers. Marc also regularly provides strategic advice and risk analysis on structuring of corporate and lending transactions.
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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 November 30, 2018, Essar Steel Algoma Inc. (“ESAI”) concluded its comprehensive restructuring under the Companies’ Creditors Arrangement Act by way of the sale of substantially all of its assets to Algoma Steel Inc. (“ASI”).
Concordia International Corp. (“Concordia” or the “Company”) (TSX: CXR), an international specialty pharmaceutical company focused on becoming a leader in European specialty, off-patent medicines, completed the recapitalization of approximately US$4 billion of secured and unsecured debt in September 2018 pursuant to a plan of arrangement (the “CBCA Plan”) under the Canada Business Corporations Act (“CBCA”).
On May 31, 2018, an affiliate of Fairfax Financial Holdings Ltd. (Fairfax) acquired all of the share capital and business of Toys “R” Us (Canada) Ltd. Toys “R” Us (Canada) Ltee (Toys Canada) for a purchase price of $300 million subject to certain working capital adjustments. The share transaction, which was completed in connection with Toys Canada’s emergence from restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA) and Chapter 11 of the U.S. Bankruptcy Code, has enabled Toys Canada to continue as a going concern without compromising creditor claims and preserved Toys Canada’s position as Canada’s leading toy and baby retailer.
On October 5, 2016, Postmedia Network Canada Corp. (PNCC) (TSX:PNC.A, PNC.B) and Postmedia Network Inc.’s (“PNI” and together with PNCC, the “Company” or “Postmedia”) completed a recapitalization transaction.
On December 14, 2016, Tervita Corporation (“Tervita”), a leading environmental solutions provider, implemented its court-approved plan of arrangement under the Canada Business Corporations Act (the “Plan”).
Cline Mining Corporation (Cline), a publicly-traded Toronto-based mining and resources company, completed a recapitalization and refinancing transaction, which included the conversion of $110 million of secured debt into new common shares representing 100 per cent of the equity in Cline, the issuance of $55 million of new secured debt and the settlement of significant class action claims under The US Worker Adjustment and Retraining Notification Act (US Warn Act).
Pacific West Commercial Corporation (Pacific West), an affiliate of Vancouver-based Stern Partners Inc. (Stern Partners), completed the acquisition of the business and assets of Comark Inc. (Comark). Financial terms were undisclosed.