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Practice Areas: Restructuring and Insolvency

We are well versed in legal matters pertaining to insolvency & restructuring. Our seasoned and experienced legal team provides practical advice and solutions in a timely, cost-efficient manner.

It is not surprising that our colleagues at other firms repeatedly entrust their clients to us when they are presented with a conflict and unable to act.

Our restructuring & insolvency team is well known for achieving our clients’ goals with experienced and imaginative advice delivered efficiently and effectively. Our client group includes private lenders and shareholders, institutional lenders, and private and public corporations in all business sectors. Our Restructuring & Insolvency Group works closely with our Litigation, Corporate / Commercial and Banking & Financial Services Groups to deliver that same practical, resourceful and cost-effective solutions to our clients.

We provide advice and representation to clients with regards to:

  • Forbearance and Settlement Arrangements
  • Restructurings
  • Creditor Protection Structures
  • Exercise of Remedies and Enforcement of Creditor Rights
  • Security Review & Opinions
  • Realization on Assets
  • Purchase and Sale of Assets Through Distressed Sale Proceedings
  • Receivership Matters
  • Negotiating, Structuring & Documenting
  • Strategic advice and guidance to senior management, board & committees

Experienced. Collaborative. Connected.

Real Team. Real Time.

A sampling of the team’s work. Please see full bios for a complete listing of Representative Matters.

  • Counsel to the borrower in BIA proposal proceedings, including extension of NOI protection, DIP financing, two sale transactions, and proposal to creditors – Re: J.F. Moore Lithographers Inc. (2015)
  • Counsel to equipment lessor/financier in BIA proposal proceedings and in a motion for priority payment of post-filing claims – Re: San Gold Corp. (2015)
  • Counsel to the Receiver in a large commercial and retail marina, including DIP borrowing, claims procedure, stalking horse sale agreement approval, interim preservation of diverted property, and actions against former management for diverted funds –re: Crate Marine Sales Limited et al. (2014-2015)
  • Counsel to the Receiver of a condominium developer, including motions for windup of incomplete sale agreements, sale of assets, and HST priority issues – Re: Westport Beach Development Corp. (2013-2015)
  • Counsel to the lead trade creditors in resisting priming charging orders, and developing novel orders to permit construction lien registrations during a stay – Re: Comstock Canada Ltd. et al. (2013)
  • Counsel to The Bargain Shop! in its restructuring proceedings
  • Lead restructuring counsel to venture capital consortium in respect of the restructuring of the publicly traded investment fund Growthworks Canadian Fund Ltd.
  • Lead restructuring counsel to the special committee of the board of CanWest in its restructuring proceedings
  • Lead restructuring counsel to the Richard Chandler Group in the matter of Sino-Forest Corporation
  • Lead restructuring counsel to the Caisse de Depot in the matter of the restructuring of the Canadian non-bank asset-backed commercial paper market
  • DIP lender and backstop investors in the restructuring of AbitibiBowater
  • Counsel to one of the world’s leading technology companies as the “stalking horse” bidder for the IP portfolio of the Nortel Networks Group
  • Lead counsel to cross-border vision and medical clinic operator in its successful CCAA/Chapter 11 restructuring
  • Court-appointed receiver of Crate Marine Sales Limited

Brendan Bissell

  • Ontario Bar Association: Bankruptcy and Construction Collide (2015)
  • Hot Topics in Construction Law: Construction Lien Rights in a CCCA (2014)
  • Restructuring a Canadian Construction Company (Some Assembly Required) Comstock Canada Ltd. Tried to Rebuild Itself (2013)

Click here for Brendan’s full profile


Robert J. Drake

  • Contributor to Dismissal and Employment Law Digest, Toronto, Canada Law Book, 2015
  • Contributor to Falconbridge on Mortgages – “Deemed Trusts”, Toronto, Canada Law Book, 2003

Click here for Robert’s full profile


Michael B. Rotsztain

  • Contributor to Dismissal and Employment Law Digest, Toronto, Canada Law Book, 2015
  • Contributor to Falconbridge on Mortgages – “Deemed Trusts”, Toronto, Canada Law Book, 2003
  • Michael B. Rotsztain and Sanja Sopic drafted the chapter, Restructurings of Single Asset Real Estate Businesses – Should There be Legislative Restrictions? in the Annual Review of Insolvency Law: 2014, Editors: Dr. Janis P. Sarra, LL.B., LL.M., S.J.D. and The Honourable Justice Barbara Romaine, Carswell, (Scarborough, Ontario), 2015
  • Co-authored, with Sanja Sopic, Associate, Goldman, Sloan, Nash & Haber LLP Case Comment: Re Nortel Networks Corp. and the Applicability of the Interest Stops Rule to CCAA Proceedings in the National Insolvency Review, February 2015, Volume 32., No. 1, (2015), Nat. Insol. Review, (LexisNexis Canada, Markham, Ontario, Canada).
  • Quoted – “The CBCA is much more limited, says Michael Rotsztain” The Globe and Mail Report on Business (October 26, 2012)
  • Quoted – “David Chaikof and Michael Rotsztain are advising on one of North America’s largest bankruptcies in 2009,” Law.com (June 8, 2009)
  • “Fee Premium Awards in Canadian Insolvencies” 2007 Annual Review of Insolvency Law (Thomson Carswell, February 2008)
  • “Debtor-in-Possession Financing”, Canadian Bankruptcy & Insolvency Law, edited by Stephanie Ben-Ishai and Anthony Duggan, (LexisNexis2007)
  • “A Whirlwind Tour of Diverse Issues”, panel discussion at Canadian-American Symposium on Cross-Border Insolvency Law, sponsored by the Annual Review of Insolvency Law, American Bankruptcy Institute and Western University (February 2005)
  • “Substantive Consolidation in CCAA Restructurings: A Critical Analysis” 2004 Annual Review of Insolvency Law (Thomson/Carswell)
  • Group Leader, Working Group on Executory Contracts, Insolvency Institute Of Canada/Canadian Association of Insolvency and Restructuring Professionals Joint Task Force on Business Insolvency Law Reform (2004)
  • “Cross-Border Issues: Managing the Canadian Side of an American Insolvency Application” Advanced Insolvency Law and Practice (Canadian Institute, January 2003)
  • “Bankruptcy and Insolvency Act Interim Receivers” Ontario Bar Association, Enforcement and Insolvency Issues for Lenders (October 2002)
  • “Choosing your Weapon: Deciding between the BIA and CCAA Regimes”, Second Annual Advanced Insolvency Law and Practice, (Canadian Institute, January 2002)
  • “Debtor-in-Possession Financing in Canada: Current Law and a Preferred Approach” (2000) 33 Canadian Business Law Journal, No. 283

Click here for Michael’s full profile


Congratulations to Mario Forte,


John McKeown,

John McKeown

Stanley Naftolin

Stanley Naftolin

Michael Rotsztain

Michael B. Rotsztain

and Walter Traub

Traub_Walter_1491 Sept 2011

for being named to  … Read more

In Recent Payless Decision Ontario Court Sides with Landlords and Refuses to Grant DIP Recognition Order, showing that  … Read more

Wolfe_Georgea_0403 Sept 2011

Georgea Wolfe, March 29, 2017

The Bulk Sales Act (Ontario) (the “BSA”) was enacted in Ontario in  … Read more

Brendan Bissell, Counsel on the GSNH Restructuring & Insolvency group published the article Trust No One: A  … Read more

The recent decision of Morawetz R.S.J. in the Target Canada CCAA proceedings is an example of the battle  … Read more