Advanced Corporate Insolvency and Restructuring

Faculty Agenda Download Brochure PDF

Whether you represent creditors or debtors, it is critical that you have an up-to-date and complete understanding of the latest insolvency and restructuring issues in order to get the best results for your client.

The Advanced Corporate Insolvency and Restructuring forum will be taught by a faculty of highly experienced corporate insolvency practitioners who will give you their insights and perspectives on the legal and financial issues developing in this period of intensified activity. Hear about:

• Perspectives from the Bench on the important issues in insolvency and restructuring today
• Post Indalex: dealing with the evolving role of unions and pension plan claims under the BIA and CCAA
• Dealing with fraud in insolvencies
• Who’s on the hook for environmental remediation orders under the BIA and CCAA?
• New case law resulting from the 2009 amendments to the BIA and CCAA
• Effective use of credit bidding as a defensive strategy in today’s tight credit markets
• Understanding recent developments in debtor-in-possession financing
• Staying current with the latest developments re: the U.S. Bankruptcy Code and case law
• The role and impact of Ontario’s Model Orders and the UNCITRAL Model Law

Participants will come away with a thorough understanding of the key principles and techniques that they need to know to confidently deal with the complex issues that arise in the context of  today’s insolvency or restructuring.

Faculty

Judges

• The Hon. Justice Geoffrey B. Morawetz, Ontario Superior Court of Justice
• The Hon. Justice Colin L. Campbell, Ontario Superior Court of Justice

Chairs

• Scott A. Bomhof, Torys LLP
• Michael J. MacNaughton, Borden Ladner Gervais LLP

• David Bish, Torys LLP
• Ken Coleman, Allen & Overy LLP (New York)
• Joseph Coltson, Duff & Phelps Canada Limited
• Sean Dunphy, Russell Hill Advisory Services Inc.
• Peter Farkas, Duff & Phelps Canada Limited
• Sharon S. Hamilton, CA, CIRP, Ernst & Young LLP
• Craig Hill, Borden Ladner Gervais LLP
• Aubrey E. Kauffman, Fasken Martineau DuMoulin LLP
• Kevin P. McElcheran, McCarthy Tétrault LLP
• D.J. Miller, Thornton Grout Finnigan LLP
• Richard A. Morawetz, Alvarez & Marsal Canada ULC
• Fred Myers, Goodmans LLP
• Hugh O’Reilly, Cavalluzzo Hayes Shilton McIntyre & Cornish LLP
• Tony Reyes, Norton Rose Canada LLP
• Linc Rogers, Blake, Cassels & Graydon LLP
• Waël Rostom, McMillan LLP
• Ashley Taylor, Stikeman Elliott LLP
• Marc Wasserman, Osler, Hoskin & Harcourt LLP

Agenda

• Day 1: Advanced Corporate Insolvency and Restructuring

  Original Date: November 14, 2012

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  • 9:00 am
    Welcome and Introduction

    Scott A. Bomhof, Torys LLP
    Michael J. MacNaughton, Borden Ladner Gervais LLP

  • 9:15 am
    Special Session: A View from the Bench

    Moderators
    Scott A. Bomhof, Torys LLP
    Michael J. MacNaughton, Borden Ladner Gervais LLP

    Judicial Perspective
    Two judges of the Superior Court of Justice (Commercial List), The Hon. Justice Geoffrey Morawetz and The Hon. Justice Colin Campbell, will address issues of importance to those appearing or involved in Commercial List matters.

    Ample time will be provided for questions from the delegates.

  • 10:30 am
    Refreshment Break
  • 10:45 am
    The Impact of Insolvencies and Restructurings on Pension Plans: Post Indalex

    Fred Myers, Goodmans LLP
    Ashley Taylor, Stikeman Elliott LLP
    D.J. Miller, Thornton Grout Finnigan LLP
    Hugh O’Reilly, Cavalluzzo Hayes Shilton McIntyre & Cornish LLP

    This panel of experienced market practitioners will examine how the Ontario Court of Appeal decision in Indalex has impacted insolvent companies with underfunded pension plans and the procedural steps that must be followed in CCAA proceedings.

    • Paramountcy – comparing Timminco to Indalex
    • Litigating against pensioners – identifying the strong points and the weak points
    • Whither the presumption of constitutionality in the exercise of discretion under the CCAA
    • The evolving role of unions
    • Current best practices when dealing with employees and pensioners
  • 11:45 am
    Dealing with Fraud in Insolvencies

    David Bish, Torys LLP
    Peter Farkas, Duff & Phelps Canada Limited
    Joseph Coltson, Duff & Phelps Canada Limited

    Corporate insolvencies can often have an element of fraud associated with them. Bankruptcy legislation provides effective tools to deal with this issue provided that you know what to look for.

    This panel session will help you to understand how to identify the“red flags” when fraud is involved, how to apply the investigative techniques and gather and protect evidence and how to obtain relief for creditors and shareholders.

    • How do you detect and investigate?
    • Tools for evidence recovery
    • Evidence handling and chain of custody
    • How do you deal with the wrongdoers?
    • Case law update
  • 12:45 pm
    Luncheon
  • 1:45 pm
    Environmental Liabilities and Insolvent Companies

    Craig Hill, Borden Ladner Gervais LLP
    Sean Dunphy, Russell Hill Advisory Services Inc.

    In March 2012, the Ontario Superior Court released its decision pertaining to several motions brought against Nortel Networks Corporation (Nortel) by the Ministry of the Environment (MOE) which sought to hold Nortel responsible to remediate environmental contaminants on properties once owned by Nortel but sold off by Nortel under CCAA protection.

    The decision of the Court which favoured Nortel and which left the MOE as an unsecured creditor has been appealed to the Supreme Court of Canada.

    • What obligations do insolvent companies have to cover the costs of environmental cleanups?
    • When does the regulator become just another creditor?
    • BIA remediation orders
    • CCAA requirements?
    • Case law update
  • 2:45 pm
    Refreshment Break
  • 3:00 pm
    Development of Case Law Resulting from the 2009 Amendments to the BIA and CCAA

    Kevin McElcheran, McCarthy Tétrault LLP
    Aubrey E. Kauffman, Fasken Martineau DuMoulin LLP

    The 2009 amendments have been in place for two years and practitioners and the Courts have had an opportunity to interpret the new rules. Learn how the Courts have applied the amendments in insolvency applications.

    • Assignment of contracts
    • Dealing with critical suppliers
    • Disclaiming contracts
    • Treatment of equity claims
    • Case law update
  • 3:45 pm
    Sales Processes and Credit Bidding

    Richard A. Morawetz, Alvarez & Marsal Canada ULC
    Marc Wasserman, Osler, Hoskin & Harcourt LLP

    Distressed companies under court protection can be attractive targets. In Canada, the sale of an insolvent business is conducted by way of a receivership sale, a CCAA sale or a sale under the BIA. The benefits to the potential successful purchaser can be significant.

    Following the recent amendments to the CCAA, credit bidding has come up in a number of recent restructuring cases. In today’s restricted credit markets, credit bidding is used as a defensive strategy by secured creditors and provide a number of benefits to secured creditors.

    • How are sales processes done today?
    • What factors are considered by the court in credit bidding?
    • What is the impact of a credit bid on the marketing of the assets?
    • How are unencumbered assets dealt with?
    • Has the role of the Monitor in a sales process changed?
    • Is the Monitor’s role different in a credit bid?
    • Differences between Canadian and U.S. practices
  • 4:45 pm
    Day One Adjourns
• Day 2: Advanced Corporate Insolvency and Restructuring

  Original Date: November 15, 2012

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  • 9:00 am
    Recap from the Chairs
  • 9:15 am
    Developments in Debtor–in-Possession Financing

    Linc Rogers, Blake, Cassels & Graydon LLP
    Waël Rostom, McMillan LLP

    This panel will discuss the Re Crystallex case, which has been appealed to the Supreme Court of Canada, as well as:

    • Roll-up DIP financing
    • Implications of Crystallex/Timminco
    • Special covenants, events of default and remedies in DIP loans
  • 10:15 am
    Refreshment Break
  • 10:30 am
    Cross-Border Insolvencies: Trends and Best Practices

    Tony Reyes, Norton Rose Canada LLP
    Sharon S. Hamilton CA, CIRP, Ernst & Young LLP
    Ken Coleman, Allen & Overy LLP (New York)

    Experienced counsel will give you an excellent overview of the U.S. and Canadian regimes, including:

    • What you must know about the debtors’ business and its debt structure
    • Plenary proceedings in Canada or in the United States: issues and process
    • Ancillary proceedings in Canada or in the United States: issues and process
    • Which is the better model: dual plenary proceedings or one plenary proceeding and ancillary proceedings where necessary?
  • 12:00 pm
    Program Concludes

Group Discounts

2-3 delegates: 25% off archived program fee
4-10 delegates: 30% off archived program fee
11+ delegates: 35% off archived program fee
Boardroom rates available.

Delivery

The video stream, including link to program materials will be sent to you via email as soon as payment is successfully processed.

Refunds

All sales are final. Please make all enquiries related to program content and CPD/MCLE credit hours prior to purchase. In the event you experience technical difficulties, please contact opdsupport@osgoode.yorku.ca for assistance.