Tony DeMarinis
Tony DeMarinis
Co-Chair, Restructuring and Insolvency at Torys LLP
(416) 865-8162
(416) 865-7380
79 Wellington St W, Suite 3000, Box 270, TD Ctr, Toronto, ON
Year called to bar: 1989 (ON)
As Chair of Torys’ Canadian Corporate Restructuring and Advisory practice, Tony advises a wide range of leading clients on all aspects of corporate financial restructurings or insolvencies, including transactions and proceedings involving negotiated workouts, recapitalizations, debt exchanges, re-financings, distressed investments and acquisitions, court proceedings under the federal Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act, plans of arrangement under the Canada Business Corporations Act, sales auctions, bridge and debtor-in-possession loans, and receiverships. Tony’s clients include public companies seeking to re-finance or restructure debt, lenders and lending syndicates, ad hoc bondholder groups, bridge and debtor-in-possession lenders, financial sponsors, distressed business purchasers, exit lenders, receivers, monitors and information officers. He has deep expertise across many industry sectors, including energy, mining, oil and gas, retail, entertainment, manufacturing, financial services, real estate, media, tobacco, forestry, agriculture, telecommunications and technology.
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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.