Restructuring & Insolvency
Practical guidance for restructuring and insolvency matters.
Support for Insolvency and Business Restructuring
Our insolvency team takes a practical, solution-focused approach to complex restructuring and insolvency issues. With decades of experience, we represent secured creditors, including banks, mortgage lenders, credit unions, and other financial institutions, in major insolvency and restructuring proceedings.
Bankruptcies
Filing for bankruptcy is a major decision and may not be your only option if you are having financial difficulties. Our team advises you on the various implications of filing for bankruptcy, enabling you to make an informed decision about whether it is the right solution for you.
Collections
It is a common occurrence for a business to face the situation of having delinquent accounts on its records. Debt collection can be a difficult and unpleasant process. Our team combines knowledge, experience, and strategy, acting on behalf of creditors to efficiently recover outstanding debts.
Informal Liquidations
In many cases, a formal process may not be necessary. We can guide our clients through the making of an informal proposal or through a self-liquidation process, and assist our clients in ensuring that they avoid any actions that may create issues such as fraudulent preferences, fraudulent conveyances, or sales for undervalued property.
Insolvency
We have acted on behalf of creditors in numerous major insolvencies that have occurred in Nova Scotia. We act on behalf of some of the leading financial institutions in the province. In these representations, our efforts are focused on realizing indebtedness, recovering assets, and managing workouts.
Receiverships
A receivership allows secured creditors to recover monies outstanding in the event a business defaults on payment. A Receiver, whether privately or court-appointed, needs to be carefully monitored to ensure they have the ability to protect the business and creditors. These matters are often unique and require legal advice.
Reorganizations & Proposals
Our insolvency counsel has extensive experience representing distressed debtors, trustees, and both secured and unsecured creditors. We assist them in reorganizing their debt, including developing proposals under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act. We can provide guidance on all aspects of restructuring, including the continuation of business during reorganization, the roles of the trustee and monitor, the critical supplier rules, obtaining Debtor-in-Possession financing, liquidating assets, the claims process, and creditor approval of the ultimate plan.
Restructuring
With our practical and creative approach to complex restructuring challenges, we work to provide innovative solutions for businesses of all sizes. We act on behalf of creditors and debtors in restructuring transactions. Restructurings involve tight deadlines and a complex range of legal and business issues, for which we work effectively and efficiently, negotiating solutions that benefit the client.
Your inquiry is confidential and only used to connect you with our team.
Restructuring & Insolvency Lawyer
Legal Services:
- Commercial Litigation
- Insolvency & Restructuring
- Loan and Mortgage Enforcement
- United States Immigration
Languages:
English
Frequently Asked Questions
What is the difference between bankruptcy and restructuring?
Bankruptcy involves liquidating assets to pay creditors and usually results in a business winding down. Restructuring allows a business to continue operating while reorganizing its debts through proposals under the Bankruptcy and Insolvency Act or the Companies’ Creditors Arrangement Act.
What options are available to creditors?
Creditors may enforce their security through receivership, negotiate a workout, or participate in insolvency proceedings. We assist secured creditors in recovering indebtedness, realizing assets, and maximizing recovery.
When is informal liquidation an option?
An informal proposal or self-liquidation may be appropriate when a formal insolvency process is not required. These approaches can resolve matters efficiently while avoiding issues such as fraudulent preferences or undervalued transactions.
Business Transactions
Explore all services in this area:
- Buying or Selling a Business: We assist you with asset and share purchases, tax considerations, and necessary licences or registrations to safeguard your interests throughout the transaction.
- Mergers & Acquisitions: Our team provides guidance on M&A deals of all sizes, backed by specialists in tax, securities, finance, employment, and intellectual property.
- Business Succession Planning: We create succession plans that facilitate smooth, tax-efficient ownership transfers, whether passing your business to family or selling to a third party.
- Restructuring & Insolvency: We offer practical guidance on complex restructurings and insolvencies and have represented creditors in major insolvency cases across Nova Scotia.