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Thornton Grout Finnigan LLP

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Number of partners: 9 (plus 2 of counsel)
Number of lawyers: 19
Languages: English

Firm Overview:

Thornton Grout Finnigan LLP (TGF) practises exclusively in two areas:
■ Commercial Litigation
■ Insolvency & Restructuring

Representative mandates reflect the breadth and depth of the team, and the creativity involved in resolving some of the most complex legal issues in Canada. TGF is a mix of senior restructuring and litigation lawyers with a full range of experience, combined with talented and energetic younger lawyers who thrive in the entrepreneurial environment of a highly focused firm.

With the recent addition of retired Justice Frank Newbould, QC as Counsel to the firm, TGF’s reputation as a litigation and restructuring powerhouse has been further solidified. Justice Frank Newbould, QC was most recently judicial team leader on the Commercial List in Toronto and presided over some of the most complex restructuring and litigation proceedings in Canada during his tenure on the bench.

Main Areas of Practice:

Restructuring & Insolvency:

5 partners; 10 lawyers in practice group
■ Counsel to the Monitor in the ongoing restructuring of the Carillion Group in Canada
■ Counsel to BDC Capital Inc. in the CCAA restructuring of the sustainable chemicals company BioAmber Inc., the largest global producer of bio-based succinic acid
■ Counsel to the court-appointed Monitor of Performance Sports Group Ltd. and 17 of its indirect and wholly owned subsidiaries, the sports and apparel company that formerly owned the Bauer and Easton brand
■ Counsel to the court-appointed Monitor in a CCAA and Chapter 11 proceeding involving Pacific Exploration and Production Corporation, the largest privately-owned oil and gas producer in Latin America
■ Counsel to Whirlpool Canada, one of the largest suppliers to Sears Canada, during its liquidating CCAA proceeding
■ Canadian counsel to SquareTwo Financial Corporation and 17 of its direct and indirect subsidiaries in the US and Canada in completing a pre-packaged Joint Plan of Arrangement to implement a cross-border share and asset sale
■ Counsel to United States Steel Corporation as the DIP lender in the CCAA proceedings of US Steel Canada Inc.
■ Restructuring counsel to RCR International Inc. and W.J. Dennis & Company in their CCAA proceeding
■ Canadian counsel to the UK Pension Claimants in the global insolvency proceedings of Nortel Networks, successfully obtaining a ‘pro rata allocation’ of US$7.3 billion in sale proceeds among 40 insolvency estates in 19 countries and a CDN$600 million judgment following disallowance by the court-appointed Monitor
■ Settled ‘the longest running legal saga in Canadian history’ by a creative application of the CCAA to resolve an acrimonious and multi-faceted auditor’s negligence case spanning more than 22 years and involving more than 500 affected individuals, partnerships and corporations
■ Counsel to a landlord of various properties in several retail insolvency proceedings
■ Counsel to Endurance Energy Ltd. in connection with its proceedings under the CCAA, an Alberta-based oil and gas production company, which successfully sold its assets as part of its restructuring efforts
■ Counsel to GuestLogix Inc. in its restructuring through a CCAA proceeding
■ Counsel to Flextronics Corporation, Nortel’s largest supplier and a significant creditor, during its restructuring
■ Counsel to the court-appointed Monitor of Mobilicity
■ Counsel to the court-appointed Monitor in the restructuring of the Canadian Abitibi-Bowater entities, one of the world’s largest public pulp and paper manufacturers
■ Counsel to the Agent and lead lender in a syndicate of lenders to Allen-Vanguard Corporation, an international military defence corporation, during its restructuring pursuant to the CCAA and its recapitalisation as a private entity ■ Counsel to Fraser Papers Inc. and its Canadian and US affiliates in a restructuring pursuant to the CCAA and the US Bankruptcy Code, successfully obtaining amendments to provincial pension legislation to address pension liabilities
■ Restructuring counsel to Hollinger Inc. in the windup and dissolution of Hollinger and its subsidiaries
■ Counsel to Grant Thornton LLP, court-appointed Receiver of Blockbuster Canada
■ Represented GE Capital Aviation Services, Inc., a principal stakeholder in the CCAA restructuring proceedings of Air Canada, Canada’s largest airline
■ Counsel to Ernst & Young Inc., court-appointed Monitor in the restructuring of Stelco, one of the largest steel companies in Canada
■ Counsel to the Insolvency Institute of Canada as intervenor in an appeal to the Supreme Court of Canada in Indalex, following a Court of Appeal decision that significantly changed the pension and restructuring landscape in Canada
■ Counsel for KPMG Inc. as court-appointed Receiver of the Portus group of companies
■ Counsel to Ernst & Young Inc., court-appointed Monitor of JTI Macdonald Corp. in its CCAA proceeding
Key Clients: Private and public companies, banks and other lenders, accounting and advisory firms, directors and officers, turnaround professionals in other jurisdictions
Restructuring Contact: D.J. Miller
Tel: +1 416 304 0559
Email: [email protected]

Litigation:
4 partners; 7 lawyers in practice group
■ Court-appointed Representative Counsel for 630,000 non-mutual policyholders in the $2 billion demutualisation of Economical Mutual Insurance Company. This cutting edge mandate is the first ever demutualisation of a property and casualty insurer in Canada
■ Counsel for Coopers & Lybrand in connection with auditor’s negligence claims stemming from the collapse of Castor Holdings Ltd. that were later addressed in a proceeding under the CCAA
■ Court-appointed litigation counsel to the Litigation Trustee of Cash Store Financial in pursuing nine figure damage claims against Cash Store’s professional advisors
■ Counsel to a syndicate of European lenders in connection with a $75M breach of contract claim against a major North American air carrier
■ Counsel to a committee of contesting bondholders in the proposed privatisation of BCE Inc., involving the world’s largest leveraged buy-out with an enterprise value of $52 billion, including an appeal at the Supreme Court of Canada.
■ Represented the former principal of Lakeport Brewing Corp. in the successful defence of a $50 million officer and director liability case
■ Lead litigation counsel to the court-appointed Chief Restructuring Officer and Litigation Trustee of Hollinger Inc., in pursuing extensive litigation claims in the estate
■ Counsel to the court-appointed Receiver in the Norshield hedge fund scandal involving the tracing and pursuit of over $400 million in investor funds in several jurisdictions
Key Clients: Private and publicly traded companies, directors and officers, turnaround professionals, national and international law firms and advisory firms, canadian and international lenders
Litigation Contact: Deborah E. Palter
Tel: +1 416 304 0148
Email: [email protected]