Wael Rostom Photo
Wael Rostom Photo
Wael Rostom Photo

Waël Rostom is a highly accomplished restructuring and insolvency lawyer, advising on numerous high-profile Canadian, US and European restructuring proceedings. He advises on complex corporate reorganizations as well as workouts, distressed M&A transactions, receiverships and bankruptcies.

Waël has acted for publicly traded companies, directors and officers, shareholders, banks, financial institutions, hedge funds, private equity funds, asset-based lenders, customers and suppliers in domestic and cross-border proceedings. He also advises privately appointed and court appointed receivers, court appointed monitors and trustees in bankruptcy.

A talented finance lawyer, Waël frequently acts for clients in lending transactions, debtor-in-possession (DIP) financing and distressed loans, and other forms of distressed investing.  Waël has extensive experience in the banking, manufacturing and mining industries.

Waël is recognized by Chambers Canada (2023) as a leading lawyer in the area of restructuring / insolvency, by the Best Lawyers in Canada (2023) as a leading lawyer in insolvency and financial restructuring law and by Lexpert in the 2022 Canadian Legal Lexpert Guide in the area of Insolvency & Restructuring: Financial Restructuring.  He is a member of the Insolvency Institute of Canada and leads the firm’s Restructuring & Insolvency Group nationally.



Representative Matters

  • Sixth Street Specialty Lending, Inc. in its capacity as agent for the FILO Lenders to Bed, Bath & Beyond Inc. in connection with CCAA proceedings commenced by Bed Bath & Beyond Canada L.P. and BBB Canada Ltd.
  • The Bank of Nova Scotia in its capacity as pre-filing lender and DIP Lender a large Canadian flooring distributor
  • Numerous bidders for distressed businesses in restructuring proceedings under the Companies’ Creditors Arrangement Act
  • Royal Bank of Canada in its capacity as Agent for the First Lien Lenders to Cirque du Soleil involving over US$1 billion of debt
  • All Js Greenspace LLC in its capacity as DIP lender and stalking horse purchaser in Green Growth Brands Inc.’s restructuring proceedings under the Companies’ Creditors Arrangement Act
  • The Bank of Nova Scotia in connection with restructuring proceedings involving Imperial Tobacco Canada Limited and its subsidiaries under the Companies’ Creditors Arrangement Act
  • iAnthus Capital Holdings Inc. and its subsidiaries in the company’s plan of arrangement under the British Columbia Business Corporations Act involving over US$185 million in debt
  • Acted for a syndicate of lenders providing exit financing to Algoma Steel Inc.
  • Citibank, N.A. in its capacity as Agent to a syndicate of lenders providing exit financing to the Syncreon Group
  • FTI Consulting Canada Inc. in its capacity as Monitor in the restructuring proceedings involving Banro Corporation under the Companies’ Creditors Arrangement Act
  • KPMG Inc. in its capacity as Monitor in the restructuring proceedings involving Walter Energy Canada Holdings Inc. and its subsidiaries under the Companies’ Creditors Arrangement Act
  • The Bank of Nova Scotia in connection with restructuring proceedings involving RB Energy Inc. under the Companies’ Creditors Arrangement Act
  • Miniso Canada in connection with its restructuring proceedings under the Companies’ Creditors Arrangement Act
  • Fortress Investment Group in connection with the purchase of the assets of the Montreal, Maine & Atlantic Railway, which was subject to court protection following the tragic derailment at Lac-Mégantic, Québec on July 6, 2013
  • Great Basin Gold Limited in connection with proceedings under the Companies’ Creditors Arrangement Act (“CCAA”) and advising it relating to filings by certain of its affiliates under with South African Business Rescue Proceedings and Chapter 11 of the US Bankruptcy Code.
  • JP Morgan in its capacity as pre-petition Lender and DIP Lender in connection with Catalyst Paper Corporation’s filing under the CCAA
  • Acted for the syndicates of Lenders and the DIP Lender in connection with cross-border insolvency proceedings involving the Allied Research and the Cetero Group of Companies
  • Acted for the Syndicate of Lenders in connection with the receivership of PRACS Institute
  • Represented the Syndicate of Lenders in connection with the Canadian aspect of the cross-border restructuring of Graceway Pharmaceuticals
  • Represented the largest secured lenders to Trident Resources Corporation in connection with its restructuring under the CCAA
  • Represented Pliant in connection with its cross-border restructuring and recognition proceedings under the CCAA
  • Represented the Pre-Petition Bank Syndicate to Quebecor World
  • Acted for the DIP Lenders to Indalex Limited and Linens ‘n Things
  • Acted for the Informal Committee of Convertible Noteholders and two of the Plan Sponsors in Stelco Inc
  • Acted for banks, OEMs and parts suppliers in connection with several automotive restructurings, including GBM Rivets & Fasteners, Niagara Machine Products, Windsor Machine, Dominion Springs, Vannatter/Solus, Cam-Tool & Die, Waltec Forgings, Hallmark Technologies, Genfast Manufacturing, Hunjan International, Veltri Metal Products, A.G. Simpson Automotive, Tiercon Industries, Brahm Industries and Autosystems Manufacturing

Waël has acted for clients in the following additional public restructuring and insolvency matters:

  • Nortel Networks;
  • Angiotech;
  • Compton Petroleum;
  • General Motors and General Motors Canada;
  • Air Canada;
  • Teleglobe Inc.;
  • Ivaco Rolling Mills;
  • Inter-Canadien Airlines;
  • Cotton Ginny;
  • Playdium;
  • Roman Corporation;
  • Look Communications; and
  • Fantom Technologies

News


Rankings & Recognition

  • Recognized in the 2024 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring
  • Recognized by Chambers Global (2024) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Chambers Canada (2024) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2024) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Listed in Who’s Who Legal: Canada 2023 as a leader in Restructuring & Insolvency
  • Recognized in the 2023 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring: Financial Restructuring
  • Recognized by Chambers Global (2023) as a leading lawyer in the area of Restructuring / Insolvency
  • Listed in Who’s Who Legal: Global 2022 as a leader in Restructuring & Insolvency
  • Listed in Who’s Who Legal: Canada 2022 as a leader in Restructuring & Insolvency
  • Recognized by Chambers Canada (2023) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2023) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Recognized in the 2022 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring: Financial Restructuring
  • Recognized by Chambers Global (2022) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Chambers Canada (2022) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2022) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Listed in Who’s Who Legal: Global 2021 as a leader in Restructuring & Insolvency
  • Listed in Who’s Who Legal: Canada 2021 as a leader in Restructuring & Insolvency
  • Recognized in the 2021 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring: Financial Restructuring
  • Recognized in the 2021 Lexpert Special Edition on Finance and M&A as one of Canada’s Leading Finance and M&A Lawyers
  • Recognized by the Best Lawyers in Canada (2021) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Recognized by Chambers Canada (2021) as a leading lawyer in the area of Restructuring / Insolvency
  • Listed in Who’s Who Legal: Canada 2020 as a leader in Restructuring & Insolvency
  • Recognized in the 2020 Canadian Legal Lexpert Directory as a Repeatedly Recommended lawyer in the area of Insolvency & Financial Restructuring: Financial Restructuring
  • Recognized by Chambers Global (2020) as a leading lawyer in the area of Restructuring / Insolvency
  • Listed in the Legal500 Canada 2020 as a “Recommended Lawyer” – Restructuring & Insolvency
  • Recognized by Chambers Canada (2020) as a leading lawyer in the area of Restructuring / Insolvency Law
  • Recognized by Best Lawyers in Canada (2020) as a leading lawyer in the area of Insolvency & Financial Restructuring Law
  • Listed in Who’s Who Legal: Canada 2019 as a leader in Restructuring & Insolvency
  • Recognized by the 2019 Lexpert Guide to the US/Canada Cross-Border Lawyers in Canada as a leading Canadian lawyer in cross-border practices
  • Recognized in the 2019 Canadian Legal Lexpert Directory as a Repeatedly Recommended lawyer in the area of Insolvency & Financial Restructuring – Financial Restructuring
  • Recognized by Chambers Global (2019) as a leading lawyer in the area of Restructuring / Insolvency
  • Chambers Canada 2019 – Restructuring/Insolvency
  • Best Lawyers in Canada (2019) – Insolvency and Financial Restructuring Law
  • Recognized in the 2018 Canadian Legal Lexpert Directory as a Repeatedly Recommended lawyer in the area of Insolvency & Financial Restructuring – Financial Restructuring
  • Who’s Who Legal Canada 2018 – Insolvency & Restructuring
  • Lexpert Guide 2018 – a leading US/Canada Cross-Border Lawyer in Canada
  • Chambers Global 2018 – Restructuring/Insolvency
  • Best Lawyers in Canada (2018 edition) – Insolvency and Financial Restructuring Law
  • Chambers Canada 2018 – Restructuring/Insolvency
  • Who’s Who Legal Canada 2017 – Insolvency & Restructuring
  • Canadian Legal Lexpert Directory 2017 – repeatedly recommended in Insolvency & Financial Restructuring – Financial Restructuring
  • Chambers Global 2017 – Restructuring/Insolvency
  • Best Lawyers in Canada (2017 edition) – Insolvency and Financial Restructuring Law
  • Chambers Canada 2017 – Restructuring/Insolvency
  • Lexpert Special Edition – Global Mining 2016/17
  • Who’s Who Legal Canada 2016 – Insolvency & Restructuring
  • Chambers Global 2016 – Restructuring/Insolvency
  • Best Lawyers in Canada (2016 edition) – Insolvency and Financial Restructuring Law
  • Canadian Legal Lexpert Directory 2016 – Insolvency & Financial Restructuring
  • Chambers and Partners: Chambers Global – The World’s Leading Lawyers for Business 2015 Clients Guide – Canada & Restructuring / Insolvency – Canada.

Directorships & Affiliations

  • Insolvency Institute of Canada
  • Canadian Bar Association
  • American Bankruptcy Institute
  • Turnaround Management Association

Education & Admissions

2000
Called to the Ontario bar
1998
LLBUniversity of Ottawa
1993
B.Comm. (Honours)Carleton University

Publications

Insights (13 Posts)View More

Featured Insight

Update! Court Ordered Charges Can Also Prime Crown Claims in BIA Matters

Canadian courts have now confirmed the priority of claims between Statutory Deemed Trusts and Court-Ordered Charges.

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Nov 1, 2023
Featured Insight

Trends and Developments in Cryptocurrency: What the Experts are Seeing in the Tracing, Seizing and Safeguarding of Digital Assets, and Why So Much Value is Being Lost

Together with Lowenstein Sandler, join McMillan for a series of engaging panels with industry leaders who will share valuable insights into the newest crypto trends and developments, with a particular emphasis on the below areas of risk.

Details
Tuesday, April 25, 2023
Featured Insight

SCC Rules No Absolute Bar on Pre-post Compensation (setoff), Overrules kitco and Provides Roadmap for Possible Pre-post Setoff in CCAA Cases

The Supreme Court's decision in Montréal v. Deloitte establishes a test for pre-post compensation (set-off)

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Dec 23, 2021
Featured Insight

Reverse Vesting Orders – A Powerful Tool for Maximizing Recovery in Complex Insolvencies

How reverse vesting orders (RVOs) offer another tool for realizing value for stakeholders in Companies' Creditors Arrangement Act (CCAA) proceedings.

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May 19, 2021
Featured Insight

A Win for Landlords: Letters of Credit and the Autonomy Principle

Five takeaways from 7636156 Canada Inc. (Re), 2020 ONCA 681.

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Jan 4, 2021
Featured Insight

Asking Lenders for Time to Deal with COVID-19 Problems

Guide for borrowers to discussing loan defaults and additional credit support with lenders.

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Mar 31, 2020
Featured Insight

Coronavirus: Harbinger of a New (Old) Approach to Restructuring in Canada?

Restructuring options and challenges in the time of COVID-19.

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Mar 20, 2020
Featured Insight

Coronavirus – A Preparedness and Response Guide for Canadian Businesses

What steps should corporations take to mitigate the risks posed by COVID-19 to the health and safety of their workforce and contractual obligations.

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Mar 9, 2020
Featured Insight

Amendments to the CCAA, BIA and CBCA Now in Force

Authors discuss changes in 2019 to Canadian corporate and restructuring statutes and their possible implications for insolvency practice in Canada

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Nov 19, 2019
Featured Insight

Canadian Corporate & Restructuring Legislation: Changes Could be on the Way

Bill C-97 (the “Bill”) was introduced in Parliament to implement the federal budget tabled by the Liberal government on March 19, 2019.

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May 10, 2019
Featured Insight

The US Trust Indenture Act, Out of Court Restructurings and the Marblegate Decision

The US Trust Indenture Act, Out of Court Restructurings and the Marblegate Decision

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Apr 4, 2017
Featured Insight

The Enforceability of Make-Whole Clauses in Bankruptcy

The Enforceability of Make-Whole Clauses in Bankruptcy

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Mar 30, 2017
Featured Insight

Assigning Contracts in Canadian Insolvency Proceedings

Assigning Contracts in Canadian Insolvency Proceedings

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Jul 18, 2014

Deals & Cases (5 Posts)

Featured Insight

Converge Technology Solutions Corp. Announces $500 Million Global Revolving Credit Facility

McMillan acted as lead counsel for the joint lead arrangers and JPMorgan Chase Bank, N.A., Toronto Branch, as administrative agent, in connection with this cross-border multi-jurisdictional transaction.

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Jul 28, 2022
Featured Insight

Restructuring of iAnthus Capital Holdings Inc.

McMillan LLP advised iAnthus in connection with its successful restructuring transaction.

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Jan 26, 2021
Featured Insight

CCAA Proceedings of Green Growth Brands Inc.

McMillan acted for All Js Greenspace LLC (“All Js”) in its capacity as the DIP Lender and stalking-horse bidder in Green Growth Brands Inc.’s (“GGB”) proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”).

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May 1, 2020

McMillan helps complete the cross-border sale of assets of Montreal, Maine & Atlantic railway deals

McMillan helps complete the cross-border sale of assets of Montreal, Maine & Atlantic railway deals.

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Jul 6, 2014
Featured Insight

North American Palladium Ltd. Closes US$130 Million Term Loan, Extends Existing US$60 Million Revolving Credit Facility and Repays Existing $72 Million Notes

On June 7, 2013, North American Palladium Ltd., an established precious metals producer, closed a US$130 million senior secured term loan with Brookfield Capital Partners Ltd.

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Jun 7, 2013