Canadian Lawyers on North America’s Biggest Bankruptcies

Like their U.S. counterparts, insolvency and restructuring lawyers at Canada’s largest firms have been working around the clock since the winter to keep up with the avalanche of major bankruptcy filings to hit Canadian courts. At least a dozen large Canadian bankruptcies have been filed so far this year under the Companies’ Creditors Arrangement Act (CCAA), Canada’s significantly streamlined version of Chapter 11. In many cases, Canadian lawyers are also serving as Canadian counsel to companies that have filed parallel U.S. bankruptcy court petitions.

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