Canada Insolvency

Action Matters

Insolvency Then and Now

Dramatic changes have been taking place in Canadian insolvency proceedings since the 2009 recession. Legislative reform, global capital flows, and the evolution in the attitudes of lenders have all contributed to the frequent inability of businesses to obtain desperately needed financing.

In the case of a vacation development on Ontario’s Lake Rosseau, the credit crunch and the need for project lenders led to A&M Canada's appointment as receiver and manager. A&M oversaw the completion of the construction of the 221 unit condo hotel resort and spa, and subsequently conducted a retail sale of units. Presently, a plan is being developed to maximize the value of the remaining assets, including hotel units, the commercial space and development lands.

A recent article in CA Magazine recounts the challenges the hotel / condo faced, how A&M was able to help and its eventual emergence from a dire state of affairs.

Read the complete story.

Key Contacts:

Douglas McIntosh
Managing Director
Phone: +1 416.847.5150
Email | Profile

Richard Morawetz
Managing Director
Phone: +1 416.847.5151
Email | Profile

Alvarez & Marsal

Action Matters

Key Contacts:

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