Regional news: Canada

Norton Rose, Proskauer and Garrigues advise Pacific Exploration on restructuring

Canadian-Colombian oil company Pacific Exploration has reached a deal with an investment group to restructure most of its US$5 billion debt, advised by Norton Rose Fulbright in Canada, Proskauer Rose in the US and Garrigues in Colombia.

20 April 2016

Oil company to negotiate restructuring with Canadian financier despite Colombian protests

Canadian-Colombian oil company Pacific Exploration has announced plans to negotiate a restructuring deal with a Canadian investment group, despite attempts by shareholders to enlist Colombia’s market regulator to block the deal.

15 April 2016

Mining company wins US$1.4 billion award in arbitration financed by debtor-in-possession lender

A Canadian mining company has won a US$1.4 billion arbitral award against Venezuela in a claim funded by its debtor-in-possession lender, the private equity fund Tenor Capital.

08 April 2016

German insolvency proceedings spark Canadian bank winding-up action

Insolvency proceedings brought against a German subsidiary of Canada’s Maple Bank have prompted an “urgent” winding-up order against a branch of the bank in its native country.

01 March 2016

Canadian oil trust files Chapter 15 case in Texas

Calgary-based oil well operator Argent Energy Trust has filed for bankruptcy protection in Canada and the US, the latest victim of the collapsed price of fossil fuels.

25 February 2016

Stikeman Elliott appoints two in Montreal and Toronto

Canadian firm Stikeman Elliott has appointed two new partners with a focus on restructuring and insolvency.

04 February 2016

Canadian steelmaker crumples under global supply pressure

Canada’s Essar Steel Algoma has filed for bankruptcy protection in US and Canadian courts, just eight months after exiting a restructuring process filed last year and in the midst of a civil action by a raw material supplier.

16 December 2015

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

Insolvent Canadian payday loans company Cash Store has filed for chapter 15 protection in New York, winning a stay against a host of court proceedings on both sides of the border, including a federal securities lawsuit launched by a Japanese shareholder.

16 December 2015

Get unlimited access to all Global Restructuring Review content