Robert I. Thornton
Robert I. Thornton
Founding Partner at Thornton Grout Finnigan LLP
(416) 304-0560
(416) 304-1313
100 Wellington St W, Suite 3200, PO Box 329, Toronto-Dominion Ctr, Toronto, ON
Year called to bar: 1984 (ON)
Bob is widely acknowledged as one of the foremost insolvency practitioners in Canada. Bob is recognized as a Band 1 "leading individual" in restructuring/insolvency by Chambers Global 2020, and has been lauded as "a leading light" and "pound for pound one of the top lawyers in town." Bob is named Lawyer of the Year in the 2018 edition of The Best Lawyers in Canada for Toronto insolvency and financial restructuring law. The Best of the Best 2018 listed Bob as one of the top five insolvency and restructuring lawyers in Canada, and has described him as "exceptional" and "the most innovative in the field." Bob has acted in leading roles in the restructurings of JTI-Macdonald Corp., Carillion Group in Canada, Performance Sports Group Ltd., Stelco Inc., Pacific Exploration, GuestLogix Inc., Coopers & Lybrand, Mobilicity, Hollinger, AbitibiBowater, Fraser Papers, Calpine, and Air Canada, and the reorganization of BCE. Bob is the President of the Insolvency Institute of Canada and a Fellow of both the American College of Bankruptcy and the Insolvency Institute of Canada. He was called to the Ontario Bar in 1984.
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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.
In the culmination of a complex cross-border bankruptcy sales and auction process, on February 28, 2017, Performance Sports Group Ltd. (PSG) announced the completion of the sale of substantially all of its assets to an investor group led by Sagard Holdings Inc. (Sagard) and Fairfax Financial Holdings Limited (Fairfax) for US$575 million, subject to certain adjustments, and the assumption of related operating liabilities.