Tushara Weerasooriya 

Tushara Weerasooriya

Toronto
Brookfield Place, Suite 4400
181 Bay Street
Toronto, Ontario M5J 2T3

t: 416.865.7890
e: tushara.weerasooriya@mcmillan.ca

aperçu

Tushara is a partner in the firm's Restructuring group. She is a passionate advocate for her clients and takes a client-first approach to service. She is known for crafting timely, creative and practical solutions for her clients.

After practicing law at McMillan for 8 years, Tushara took a brief sabbatical in 2013 to travel the world, learn new skills and to rejuvenate. She followed her sabbatical with a year-long engagement as in-house derivatives counsel at a prominent financial institution. Tushara rejoined McMillan at the end of 2015 energized and excited to return to the restructuring practice.

Her practice involves all aspects of insolvency law including reorganizations, bankruptcies, receiverships, workouts, the purchase and sale of distressed businesses, lending transactions and DIP financing.

Recent examples of Tushara’s work include: acting for a major Canadian financial institution in the recovery of a $100 million swap claim from a foreign bank in liquidation, acting for a Canadian public oil and gas company, with properties in South America, the Caribbean, India and South Asia, in the out-of-court restructuring of ~$400 million of debt and acting for a British private equity firm in the acquisition of mining assets in northern Ontario.

Tushara is an active promoter of diversity initiatives both inside and outside of the firm.  In particular, she is a dedicated advocate for the advancement of women and visible minorities in the legal field.

Representative Matters

  • Acting for a Canadian private mining company in the refinancing of its $30 million credit facilities.
  • Acting for a Canadian public cannabis company in the compromise of US$195 million of debt under a British Columbia Business Corporations Act plan of arrangement
  • Acting for the appointing secured creditor in the receivership proceedings of 1404727 Ontario Inc. o/a Nissan of Muskoka
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Tailored Brands / Moores The Suit People
  • Acting for the appointing secured creditor in the receivership proceedings of B&W Heat Treating Canada ULC
  • Acting for the Court-appointed Receiver of Sage Gold Inc.
  • Acting for a German alternative energy company in the negotiation of [$150 million] compensation claim with Ontario government
  • Acting for the proposal trustee in the Bankruptcy and Insolvency Act proposal proceedings of Donaldson & James Ltd. and The Agency Employment Services Ltd.
  • Acting for the acquisition financiers to the sponsor in the Companies’ Creditors Arrangement Act proceedings of Essar Algoma Inc.
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of SquareTwo Financial
  • Acting for the Liquidation Trustee in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Performance Sports Group
  • Acting for a major Canadian financial institution in the recovery of a $100 million swap claim from a foreign bank in liquidation
  • Acting for a Canadian public oil and gas company, with properties in South America, the Caribbean, India and South Asia, in the out-of-court restructuring of ~$400 million of debt
  • Acting for a British private equity firm in the distressed acquisition of mining assets in northern Ontario
  • Acting for the bank syndicate in the compromise of $500 million in debt under the Canada Business Corporations Act proceedings of Yellow Media Inc.
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Indalex Ltd.

Publications

« Mais quels sont les effets? » La Cour suprême du Canada clarifie la règle anti-privation dans l'arrêt Chandos
9 Things You Should Do Right Now to Protect Your Franchise System During the COVID-19 Pandemic
Demander du temps aux prêteurs pour traiter les problèmes liés à la COVID-19
Le coronavirus : présage d'une nouvelle (ancienne) approche en matière de restructuration au Canada?
Défis et occasions pour les investisseurs canadiens dans les procédures d'insolvabilité au Brésil : Leçons apprises lors de la Conférence mondiale sur la restructuration 2019 de l'AIB
Pre-Packs under the Companies' Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness
Broken Break Fee: Investor's Claim for a Break Fee Denied in CCAA Proceeding
Insolvency: Canada Law & Practice,
Recent Development in Insolvency & Financial Restructuring
The Use of Releases in CCAA Restructuring Proceedings: How Wide is the Net?

News

McMillan cité 114 fois dans le répertoire Best Lawyers in Canada 2021
62 avocats de McMillan cités dans le répertoire The Canadian Legal Lexpert Directory de 2020
McMillan reconnu tant sur la liste des 10 opérations les plus importantes que sur celle des 10 décisions les plus importantes de Lexpert
McMillan S.E.N.C.R.L., s.r.l. annonce 13 promotions aux rangs d'associé participant et d'associé
Tushara Weerasooriya se voit décerner par la CFA l'un des prix 40 Under 40 de 2017
Tushara Weerasooriya traite du mentorat dans la profession juridique dans un article du Canadian Lawyer
McMillan bien représenté dans le 2013 Chambers Global Directory
Les avocats de McMillan bien représentés dans le répertoire Chambers Global 2012
McMillan Lawyers are well represented in the 2011 Chambers Global Directory
McMillan remporte trois prix Zenith Pro Bono

Education

  • Osgoode Hall Law School, LL.B. - 2004
  • Queen's University, B.Sc. (Hons.) - 2000

Year Of Call

  • Ontario - 2005

Practices

mandats d'administration de sociétés en difficulté/débiteurs
représentation des officiers de justice
restructurations transfrontalières
services financiers
investissements et acquisitions
consortiums de prêteurs/Créanciers garantis
réalisation de sûretés
financement structuré, titrisation et instruments dérivés
Les Technologies Financières

Industries

automobile
banques
capital d'investissement et capital de risque

Community Involvement

  • Board of Directors and Chair of the Mentorship Committee, Federation of Asian Canadian Lawyers
  • Board of Directors and Programs Committee Co-Chair, International Women’s Insolvency & Restructuring Confederation (Ontario Network)

Awards & Rankings

  • Recognized in Chambers Global 2012 as a leading lawyer in the area of Restructuring/Insolvency.

Media Mentions

vcard

Tushara is a partner in the firm's Restructuring group. She is a passionate advocate for her clients and takes a client-first approach to service. She is known for crafting timely, creative and practical solutions for her clients.

After practicing law at McMillan for 8 years, Tushara took a brief sabbatical in 2013 to travel the world, learn new skills and to rejuvenate. She followed her sabbatical with a year-long engagement as in-house derivatives counsel at a prominent financial institution. Tushara rejoined McMillan at the end of 2015 energized and excited to return to the restructuring practice.

Her practice involves all aspects of insolvency law including reorganizations, bankruptcies, receiverships, workouts, the purchase and sale of distressed businesses, lending transactions and DIP financing.

Recent examples of Tushara’s work include: acting for a major Canadian financial institution in the recovery of a $100 million swap claim from a foreign bank in liquidation, acting for a Canadian public oil and gas company, with properties in South America, the Caribbean, India and South Asia, in the out-of-court restructuring of ~$400 million of debt and acting for a British private equity firm in the acquisition of mining assets in northern Ontario.

Tushara is an active promoter of diversity initiatives both inside and outside of the firm.  In particular, she is a dedicated advocate for the advancement of women and visible minorities in the legal field.

  • Acting for a Canadian private mining company in the refinancing of its $30 million credit facilities.
  • Acting for a Canadian public cannabis company in the compromise of US$195 million of debt under a British Columbia Business Corporations Act plan of arrangement
  • Acting for the appointing secured creditor in the receivership proceedings of 1404727 Ontario Inc. o/a Nissan of Muskoka
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Tailored Brands / Moores The Suit People
  • Acting for the appointing secured creditor in the receivership proceedings of B&W Heat Treating Canada ULC
  • Acting for the Court-appointed Receiver of Sage Gold Inc.
  • Acting for a German alternative energy company in the negotiation of [$150 million] compensation claim with Ontario government
  • Acting for the proposal trustee in the Bankruptcy and Insolvency Act proposal proceedings of Donaldson & James Ltd. and The Agency Employment Services Ltd.
  • Acting for the acquisition financiers to the sponsor in the Companies’ Creditors Arrangement Act proceedings of Essar Algoma Inc.
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of SquareTwo Financial
  • Acting for the Liquidation Trustee in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Performance Sports Group
  • Acting for a major Canadian financial institution in the recovery of a $100 million swap claim from a foreign bank in liquidation
  • Acting for a Canadian public oil and gas company, with properties in South America, the Caribbean, India and South Asia, in the out-of-court restructuring of ~$400 million of debt
  • Acting for a British private equity firm in the distressed acquisition of mining assets in northern Ontario
  • Acting for the bank syndicate in the compromise of $500 million in debt under the Canada Business Corporations Act proceedings of Yellow Media Inc.
  • Acting for the debtor-in-possession lender in the in the cross-border Companies’ Creditors Arrangement Act / U.S. Chapter 11 proceedings of Indalex Ltd.
13 Mai 2020
9 Things You Should Do Right Now to Protect Your Franchise System During the COVID-19 Pandemic(seulement disponible en anglais)

Franchise and Distribution Bulletin

31 Mars 2020
Demander du temps aux prêteurs pour traiter les problèmes liés à la COVID-19

Bulletin sur les restructurations, COVID-19

20 Mars 2020
Le coronavirus : présage d'une nouvelle (ancienne) approche en matière de restructuration au Canada?

Bulletin sur la restructuration, la faillite et l’insolvabilité

Février 2017
Pre-Packs under the Companies' Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness
(seulement disponible en anglais)

Annual Review of Insolvency Law
Co-authored with Tushara Weerasooriya, Adam Maerov, and Caireen Hanert

Février 2017
Broken Break Fee: Investor's Claim for a Break Fee Denied in CCAA Proceeding(seulement disponible en anglais)

Litigation Insolvency and Restructuring Bulletin

Août 2016
Insolvency: Canada Law & Practice,
(seulement disponible en anglais)

Chambers Practice Guides

Juin 2011
Recent Development in Insolvency & Financial Restructuring (seulement disponible en anglais)
The Canadian Legal Lexpert Directory 2011
Février 2011
The Use of Releases in CCAA Restructuring Proceedings: How Wide is the Net?(seulement disponible en anglais)
Co-Authored: Adam C. Maerov, Tushara Weerasooriya and Ahsan Mirza
Developments in Insolvency and Restructuring Law and Practice Over the Past Year and Emerging Trends, Ontario Bar Association