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)
Head of Torys’ Canadian Corporate Restructuring and Advisory Practice. Specializes in all aspects of corporate financial restructuring or insolvency, including transactions and proceedings involving negotiated workouts, recapitalizations, debt exchanges, refinancings, 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. Clients have included public companies seeking to refinance or restructure debt, lenders and lending syndicates, ad hoc bondholder groups, bridge and debtor-in-possession lenders, distressed business purchasers, exit lenders and investors, and receivers. A member of Canada’s leading restructuring & insolvency organizations, including the Insolvency Institute of Canada, the Turnaround Management Association and the Insolvency Section of the Ontario Bar Association. Has spoken and lectured on a variety of topics in his field. Ontario Bar, 1989. LLB, 1987, University of Ottawa. MBA (Finance), 1987, University of Ottawa.
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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.