Financial Recovery

With the current global economic downturn, the coming months are expected to present financial challenges to many businesses. Businesses not otherwise affected by the downturn may encounter customers or suppliers facing financial difficulties. For some, the economic downturn will present attractive opportunities to enter into acquisition or financing arrangements with troubled companies. Whether the current economic climate presents you with challenges or opportunities – the Financial Recovery Group can help.

As a result of changes in the law, businesses experiencing financial difficulties today have more options available to them for dealing with these challenges than was the case in prior economic downturns. The Financial Recovery Group is familiar with these legal developments, and can provide you with strategic advice as to how best to address your particular concerns. To preserve the options available to you, however, it is important that you seek the appropriate advice as early as possible.

If your circumstances require non-legal expertise, the Financial Recovery Group will ensure that you receive the help that you need by referring you to one of our contacts that possess the specialized skills that you require. Our main objective is to ensure that you get the advice that you need…quickly.

The Financial Recovery Group brings together experienced lawyers from a broad range of business practice areas, including:

  • Insolvency and Restructuring
  • Banking and Debt Financing
  • Real Estate and Property Development
  • Business Law
  • Corporate Governance
  • Corporate Finance and Securities
  • Creditors’ Rights and Dispute Resolution
  • Labour and Employment
  • Pensions and Employee Benefits
  • Tax

All of the members of the Financial Recovery Group have assisted clients through previous economic downturns, and each has extensive experience advising clients facing financial difficulties. Together, they possess the experience required to assist you with any financial challenge or opportunity that the current economic climate presents.

To arrange a consultation with members of the Financial Recovery Group, contact your Lawson Lundell lawyer or alternatively, one of the key contacts noted below.

Talk to us….we can help.

Key Contacts

  • Regularly assist both debtors and creditors in the mining, forestry, property development, manufacturing, hospitality, and retail industries with respect to restructurings undertaken under the Companies' Creditors Arrangement Act and Bankruptcy & Insolvency Act
  • Regularly act for receivers, trustees in bankruptcy, liquidators, and monitors
  • Regularly advise both unionized and non-unionized employers with respect to downsizings and facility closures
  • Regularly advise clients with respect to the acquisition of business assets from liquidators and trustees in bankruptcy
  • Regularly assist employers and other pension plan sponsors in responding to solvency and funding issues
  • Advised on the use of letters of credit and other creative techniques to address pension funding issues
  • Regularly act for both employers and plan trustees in disputes relating to pension and employee benefit plan funding obligations
  • Acted for the receivers and trustees in bankruptcy for various troubled development projects with respect to the completion of the marketing and development of those projects
  • Assisted a number of property developers on the restructuring or refinancing of their development projects
  • Advised on the formation of a private equity fund aimed at providing creative financing alternatives to credit crunched mid-market public companies
  • Advised with respect to the development of a creative acquisition structure to complete a business acquisition following the withdrawal of credit financing by senior lenders
  • Acted for the borrowers on the successful restructuring of debt in Westar Mining Ltd., Westar Petroleum Ltd. and Westar Group Ltd.
  • Acted for the borrower on the restructuring of debt in Evans Forest Products Ltd.
  • Acted for the borrower with respect to the renegotiation of bank and government secured loans in conjunction with the acquisition of a pulp mill
  • Acted for the borrower with respect to the renegotiation of covenants and other terms under senior secured notes held by US institutional investors
  • Acted for various borrowers in the mining and oil and gas service industries in renegotiating and restructuring their loans
  • Acted on behalf of a various airlines and other clients in the aviation industry with respect to the restructuring of loans and aircraft leases
  • Advised as to the structuring, issuance and sale of subscription receipts for convertible preferred shares to finance payments under a major US damages award
  • Regularly represent both landlords and tenants in negotiating commercial tenancy agreements, and in resolving disputes and negotiating settlements under those agreements
  • Regularly act on behalf of land owners and property developers in resolving real property disputes
  • Regularly act for clients in enforcing rights and obligations under commercial contracts, including the collection of amounts owing under those contracts
  • Regularly act on behalf of clients in obtaining court orders and injunctions to trace and prevent the improper dissipation of assets by debtors by way of fraudulent conveyance, fraudulent preference or otherwise
  • Acted on behalf of the Royal Vancouver Yacht Club in Royal Vancouver Yacht Club v. Datsko, 2007 BCSC No.S076896 in obtaining judgment, freezing assets and recovering amounts owing following the theft of a significant amount of money by a former employee

Team Members

Name Office Phone Email
Allard, David 604.631.9108
Anderson, Deborah 604.631.9143
Ferris, Heather 604.631.9145
Flowers, Kenneth 403.218.7524
Hollingsworth, Greg 604.631.9240
Lewis-Hand, Bonita 604.631.9157
Mann, Valerie 604.631.9173
Roberts, Peter 604.631.9158