40 King St W, Suite 2100, Scotia Plaza, Toronto, ON
Year called to bar: 1990 (ON); 2016 (AB)
Shayne Kukulowicz is a senior partner in the Restructuring and Insolvency Group at Cassels. He practises exclusively in insolvency, with an emphasis on commercial restructuring, receiverships, and bankruptcies. He has extensive experience in formal and informal corporate reorganizations, cross-border restructurings and liquidations, security enforcement, and creditor remedies. Shayne is a member of the Insolvency Institute of Canada, the International Association of Restructuring, Insolvency, and Bankruptcy Professionals (INSOL), and the Turnaround Management Association (TMA). He is also recognized as a leading lawyer in Chambers Global, The Best Lawyers in Canada, Who's Who Legal, IFLR 1000, and The Legal Media Group Guide to the World's Leading Insolvency and Restructuring Lawyers. Shayne was a recipient of the 2014 Lexpert Zenith Award. He is a frequent lecturer and presenter on insolvency-related matters for the Law Society of Ontario, the Ontario Bar Association, and other professional conference providers. Shayne has a BA in economics from Harvard University and went to law school at the University of Western Ontario. He was called to the Ontario Bar in 1990 and the Alberta Bar in 2016.
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.
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.