Over $16.5 billion has been set aside since March by Canada’s six largest banks to cover credit losses. While we haven’t yet seen the wave of corporate loan defaults and insolvency filings, it is on the horizon and bankers and restructuring professionals need to be prepared.

Join us for a valuable half-hour discussion in which our expert panel will share valuable information for bankers, trustees, insolvency lawyers and other restructuring professionals. We’ll cover, among other things, the following:

• What bankers are doing now to prepare for the coming wave.
• How loan workouts and restructurings have changed as a result of the pandemic.
• Some innovative approaches and trends that that have been seen in the insolvency market in recent months, including:
  • “softer” monitoring roles for trustee firms on behalf of lenders;
  • Schedule 1 banks exchanging debt for equity;
  • a rise of pre-packaged sales and US-style stalking horse sale processes; and
  • US investment firms willing to take assignments of Canadian loans with no reps or warranties.
• Specific trends and issues emerging in certain highly distressed industries:
  • retail: using formal insolvency proceedings to renegotiate new lease terms with landlords, including moving to % of sales deals.
  • cannabis: different approaches to restructuring a cannabis business (reverse vesting orders, restructuring under the CBCA, stalking horse sale processes etc.),  that are being attempted and which approaches seems to be yielding the most success.
  • energy: the Alberta Energy Regulator’s position on participating in restructurings, including allowing administrative costs to rank ahead of their security on a case-by-case basis.
• Predictions on when the wave of loan workouts and restructurings will begin and other industries to keep an eye on.