Osler, Hoskin & Harcourt LLP

Restructuring/Insolvency Department

Nationwide - Canada
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What the team is known for Respected practice recognised for its consummate ability to manage a wide variety of complex restructuring and insolvency mandates for an impressive portfolio of financial advisers, private equity firms and major hedge funds. Offers strong national coverage with offices in Calgary, Montréal and Toronto. The firm has an impressive track record acting for debtors and court-appointed monitors on CCAA filings, and is active in both high-end and mid-market transactions. Notable presence acting for lenders on high-profile insolvency proceedings. Has experience handling bondholder mandates and retail insolvency matters.

Strengths Clients consider the firm to be "one of the go-to firms for all Canadian restructuring matters," and appreciate that "the team is very plugged in, strong and creative."

Sources say it is "certainly a leading Canadian restructuring firm, and really provides a one-stop shop."

Work highlights Acted for FAAN Mortgage Administrators in its capacity as trustee of the syndicated mortgage loan business conducted by Building & Development Mortgages Canada. The client is seeking to maximise recoveries to investors in over 70 syndicated mortgage loans.

Notable practitioners

Market commentators describe Jeremy Dacks as "a well-rounded restructuring lawyer with full expertise on the litigation side." He is considered by peers to be "a good advocate for his clients."

Sources praise Marc Wasserman as "a very knowledgeable adviser who is creative in his approach to finding a suitable transaction structure." Chairing the firm's national insolvency and restructuring practice, he is active on high-profile and high-value mandates such as the Sears insolvency. He is very esteemed by peers, who recognise the calibre of his clientele and his strong presence on debtor-side advisory matters. Interviewees identify him as "a national leader in the industry."

Michael De Lellis is praised by peers for his judgement, high-quality work and active practice. His work includes refinancing and restructuring mandates, including high-profile CCAA proceedings.

Managing partner of the firm's Montréal office, Sandra Abitan is noted by peers for leading on "a wide range of multinational insolvencies." One commentator described her as "probably the top insolvency lawyer in Montréal."

Market commentators are impressed by the "huge amount of business" that "excellent lawyer" Tracy Sandler generates for the firm. She is active on matters such as operational restructurings and strategic reviews, as well as having significant experience in CCAA proceedings. Sources consider her to be a key part of the Osler "powerhouse."