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Global Canada Restructuring/Insolvency

The Global-wide Restructuring/Insolvency section of Chambers research is aimed at reflecting expertise in corporate bankruptcy and restructuring and the legal processes related to distressed businesses, which can either be reorganised or go into liquidation. Firms in this table expertly assist, in a cross-border context, clients such as corporate debtors, investors and asset purchasers, secured and unsecured creditors and creditors' committees, bondholders, insurers, directors of distressed companies and any other interested parties in corporate restructurings, bankruptcy proceedings. In addition to transactional work, bankruptcy also covers any related litigation, such as disputes between such parties in connection with distressed companies and Chapter 11 and Chapter 7 processes. 

1
Band 1
  1. Goodmans LLP
    1
    Goodmans LLP
    Restructuring/Insolvency
    2023 | Band 1 |
    Goodmans is a premier Toronto law firm recognised for its leading expertise in the restructuring and insolvency space across Canada. It represents an impressive range of commercial clients, with notable experience advising bondholders and acting on large international insolvencies. The firm houses a distinguished bench of lawyers who offer deep and broad expertise to both debtors and creditors, as well as notable skill advising on matters arising within regulated industries, including telecoms, energy and resources. The restructuring and insolvency team also assists clients engaged in the real estate, retail and manufacturing sectors. The Goodmans group is active in restructurings under both the CCAA and CBCA.
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  2. Osler, Hoskin & Harcourt LLP
    1
    Osler, Hoskin & Harcourt LLP
    Restructuring/Insolvency
    2023 | Band 1 |
    Osler, Hoskin & Harcourt operates an outstanding restructuring and insolvency practice and is recognised for its consummate ability to manage a wide variety of complex restructuring and insolvency mandates on behalf of an impressive portfolio of financial advisers, private equity firms and major hedge funds. The group offers strong coverage across Canada with highly praised restructuring and insolvency lawyers in its Calgary, Montréal and Toronto offices. It also has an impressive track record acting for debtors and court-appointed monitors on CCAA filings, and is active on both high-end and mid-market transactions. The team has notable experience acting for lenders on high-profile insolvency proceedings, as well as handling bondholder mandates and retail insolvency matters.
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2
Band 2
  1. Bennett Jones LLP
    2
    Bennett Jones LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    Bennett Jones is extremely well positioned to advise on large-scale insolvency matters in the oil and gas and mining sectors. The firm demonstrates notable strength in bondholder work, as well as advising debtors, court officers and international investors. It is also acknowledged for its aptitude in cross-border matters involving US Chapter 11 proceedings, with the team's industry expertise covering matters in the real estate, financial services and non-profit sectors. The firm is involved in a considerable number of litigious mandates in the field and stands out for its bench strength in both Calgary and Toronto. Lawyers in the Calgary office regularly act for strategic buyers in the energy sector, while the Toronto office offers creditor-side experience across diverse industries.
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  2. Blake, Cassels & Graydon LLP
    2
    Blake, Cassels & Graydon LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    Blake, Cassels & Graydon maintains a well-established restructuring and insolvency department with standout lawyers in Toronto, Montréal, Calgary and Vancouver. The team has a particularly strong presence representing major banks both domestically and internationally. It is widely acknowledged for its impressive track record assisting clients from the financial services, mining and natural resources sectors with large CCAA and cross-border Chapter 11 proceedings. The firm is well placed to advise lenders, receivers and troubled businesses, and fields additional expertise in litigation, which includes experience before the Supreme Court of Canada.
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  3. McCarthy Tétrault LLP
    2
    McCarthy Tétrault LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    McCarthy Tétrault has a strong national restructuring and insolvency team with a significant creditor-side practice. It regularly advises restructuring officers and monitors, as well as undertaking large debtor mandates. McCarthy offers notable cross-border capabilities and experience relating to pensions and investment funds, and stands out for its recent involvement in energy sector insolvency matters, in addition to acting on mandates in the manufacturing and automotive industries. The firm's clients benefit from its multidisciplinary offering and expertise in litigation, tax and corporate law, while its national breadth allows it to provide local support across Canada.
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  4. Stikeman Elliott LLP
    2
    Stikeman Elliott LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    Stikeman Elliott is a distinguished national law firm with strong restructuring and insolvency capabilities in Montréal and Toronto ably supported by its offices in Calgary and Vancouver. The group offers extensive experience advising debtors and court-appointed monitors on complex CCAA matters, as well as representing clients in parallel US Chapter 11 and Chapter 15 proceedings. The firm also acts for the purchasers of distressed assets. Stikeman is particularly active on mandates in the retail, mining, oil and gas, and real estate sectors.
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  5. Thornton Grout Finnigan LLP
    2
    Thornton Grout Finnigan LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    Thornton Grout Finnigan is a distinguished commercial litigation, restructuring and insolvency boutique based in Toronto, with notable experience representing banks, financial institutions and accountancy firms, as well as regulatory bodies and pension plans. The firm's deep bench of dedicated lawyers offers noteworthy strengths acting as debtors' counsel on major Canadian insolvencies. Its recent workload includes pharmaceutical, tobacco and cannabis insolvencies. The team also handles mandates in the mining and the oil and gas industries.
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  6. Torys LLP
    2
    Torys LLP
    Restructuring/Insolvency
    2023 | Band 2 |
    Torys is a highly regarded law firm with impressive competencies in the restructuring and insolvency space. The team assists a prestigious portfolio of corporate clients with debt restructuring, exit financing and recapitalisation transactions. It often represents leading financial institutions and banks, as well as businesses in the manufacturing and retail sectors. The restructuring and insolvency group is well placed to advise on cross-border files, including Chapter 11 and Chapter 15 proceedings. It offers impressive expertise out of Toronto and an expanding practice in Calgary.
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3
Band 3
  1. Borden Ladner Gervais LLP
    3
    Borden Ladner Gervais LLP
    Restructuring/Insolvency
    2023 | Band 3 |
    Borden Ladner Gervais has a distinguished national insolvency practice with impressive experience acting for clients from the banking, construction, mining and energy sectors, and a substantial caseload of oil and gas insolvency matters. BLG demonstrates significant strength in Western Canada, with offices in both Calgary and Vancouver complementing the firm's Toronto and Montréal offering. It is valued for its representation of secured lenders and debenture holders, as well as court officers, in both high-end and mid-market receiverships and bankruptcy filings. The firm is regularly active on high-profile, cross-border liquidations.
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  2. Cassels Brock & Blackwell LLP
    3
    Cassels Brock & Blackwell LLP
    Restructuring/Insolvency
    2023 | Band 3 |
    Cassels Brock & Blackwell demonstrates a solid presence in Canada's national restructuring and insolvency market, offering significant multi-jurisdictional expertise, with a focus on Canada-US cross-border restructurings. The firm acts for a variety of clients in the mining and energy sectors, with notable experience working on behalf of both creditors and distressed companies. Cassels Brock also acts for trustees in various roles, including as monitors and receivers. The expansion of the restructuring and insolvency teams in Calgary and Vancouver has bolstered the strong practice in Toronto.
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  3. Davies Ward Phillips & Vineberg LLP
    3
    Davies Ward Phillips & Vineberg LLP
    Restructuring/Insolvency
    2023 | Band 3 |
    Davies Ward Phillips & Vineberg is well respected for its ability to represent a wide range of key stakeholders in major restructuring mandates. The restructuring and insolvency group advises debtors, creditors and court-appointed monitors on both domestic and cross-border matters. Davies is also frequently sought after to advise purchasers on distressed M&A deals. The firm has a strong presence in Toronto which is supported by insolvency specialists in Montréal. The New York office also assists with cross-border matters.
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  4. Fasken
    3
    Fasken
    Restructuring/Insolvency
    2023 | Band 3 |
    Fasken has a highly regarded national team with substantial experience of mining and retail insolvency. The firm is also active on matters in the construction sector, advising a wide range of clients including lenders and debtors on complex debt recovery proceedings, liquidations, receiverships and informal workouts. It often acts for distressed companies during CCAA proceedings. Fasken is particularly well known for its strengths in Vancouver and Montréal, and leverages the firm's international platform to advise on mandates involving European and African components.
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  5. Norton Rose Fulbright
    3
    Norton Rose Fulbright
    Restructuring/Insolvency
    2023 | Band 3 |
    Norton Rose Fulbright is an international law firm with considerable strengths across a wide variety of restructuring and insolvency matters in Canada. The group is very highly regarded in Alberta for its focus on energy insolvencies, although the firm also has a very strong presence in Québec and a notable profile in Vancouver. It advises on CCAA, CBCA and US Chapter 15 proceedings, as well as debtor-in-possession financing and distressed M&A transactions. Norton Rose's restructuring and insolvency team represents a range of major banks and financial institutions.
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4
Band 4
  1. McMillan LLP
    4
    McMillan LLP
    Restructuring/Insolvency
    2023 | Band 4 |
    McMillan is a national law firm with particular strength in Toronto, supported by its Calgary and Montréal offices. It is highly regarded for its representation of secured lenders in a range of distressed business situations. It also represents a number of major Canadian banks, in addition to acting for court-appointed monitors and receivers, and the purchasers of insolvent companies. The group stands out for its extensive experience of oil and gas and mining insolvency work, and is often involved in international matters.
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  2. Chaitons LLP
    Restructuring/Insolvency
    2023 | Band 4
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  3. Dentons Canada LLP
    Restructuring/Insolvency
    2023 | Band 4
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  4. Gowling WLG (Canada) LLP
    Restructuring/Insolvency
    2023 | Band 4
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5
Band 5
  1. Aird & Berlis LLP
    5
    Aird & Berlis LLP
    Restructuring/Insolvency
    2023 | Band 5 |
    Aird & Berlis is a notable player in Canada's mid-market restructuring and insolvency space. The team regularly acts for secured lenders and other creditors, as well as representing bondholders in cross-border transactions. The firm's international restructuring and insolvency experience includes handling mandates involving Africa and the UK. Based in Toronto, the firm also has substantial experience advising on matters involving distressed real estate assets and acting for clients in the retail sector.
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  2. Fishman Flanz Meland Paquin LLP
    Restructuring/Insolvency
    2023 | Band 5
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