Adam C. Maerov 

Adam C. Maerov

Calgary
TD Canada Trust Tower, Suite 1700
421 7th Avenue S.W.
Calgary, Alberta T2P 4K9

t: 403.215.2752
e: adam.maerov@mcmillan.ca

overview

Adam Maerov is a partner in the firm's Corporate Restructuring Group. As a member of the group, Adam's practice includes all aspects of insolvency law including workouts, reorganizations, bankruptcies, receiverships, liquidations and security enforcement.

Adam has advised banks, financial institutions, asset based lenders, hedge funds, borrowers, directors and officers, customers, unsecured creditors and suppliers in domestic and cross-border restructuring proceedings.

Adam regularly advises court appointed receivers, trustees in bankruptcy, monitors and purchasers of distressed assets. Adam is a co-chair of a task force developing a model asset purchase agreement for the Business Bankruptcy Committee of the American Bar Association.

Representative Matters

  • Counsel for Niko Resources Limited in connection with the out of court restructuring of senior and second lien debt
  • Counsel for Atikwa Resources in connection with its restructuring efforts
  • Counsel for Wells Fargo as Agent under credit facility to Big Eagle Energy Services
  • Counsel for court appointed receiver of Magnum Energy
  • Counsel for plan sponsor in relation to Shoreline Energy Corp. CCAA proceedings
  • Counsel for Canadian Association of Insolvency and Restructuring Professionals as intervener in Redwater appeal to Alberta Court of Appeal
  • Counsel for proposal trustee of Leader Energy Services
  • Counsel for proposal trustee of Casa Energy Services
  • Counsel to Supreme Group Inc., pre-filing lender and DIP lender to FairWest Energy Corporation
  • Counsel to secured creditor to a leading chain of hardware and building centers
  • Counsel to senior secured lender to a number of Canadian technology and life sciences debtors in connection with receivership proceedings and restructurings
  • Counsel to Great Basin Gold in connection with its reorganization proceedings under the Companies' Creditors Arrangement Act 
  • Counsel to JPMorgan Chase Bank N.A., Agent for the DIP Lenders to Catalyst Paper Corporation
  • Counsel to Crystallex International Corporation in connection with its restructuring proceedings under the Companies' Creditors Arrangement Act  
  • Counsel to The Bank of Nova Scotia, the Administrative Agent for separate lending syndicates to the Canwest publishing and media groups
  • Counsel to A&M Cookie Company in connection with its successful reorganization under the Companies' Creditors Arrangement Act
  • Counsel to Royal Bank of Canada, the Administrative Agent for the lending syndicate to Quebecor World Inc.
  • Counsel to Pliant Corporation in relation to its cross-border restructuring under the Companies' Creditors Arrangement Act and Chapter 11 of the Bankruptcy Code
  • Canadian counsel to the Unsecured Creditors Committee in connection with the reorganization of Spiegel Corporation

Presentations

Understanding The Impact: Bankruptcy, Insolvency And Managing Tenants
Start Your Day with…Fraud? Transfers Under Value, Creditor Proofing and the Ethics of Asset Protection
A "Supreme" year – The Supreme Court of Canada landmark decisions with regards to Indalex and AbitibiBowater
Canadian and American Financing Transactions and Insolvency Proceedings - Key Differences

Publications

Supreme Court of Canada Allows Redwater Appeal: Regulator entitled to super-priority for abandonment and reclamation costs
Redwater Energy - Take 3
Appeal Dismissed: Decision of the Alberta Court of Appeal in Re Redwater Confirms Paramountcy of BIA
Pre-Packs under the Companies' Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness
Redwater Appeal Creates Continued Uncertainty for Insolvent Oil and Gas Companies in Alberta
New Rules for Asset Sales by Insolvent Producers (at least for now)
Compromise with the Alberta Energy Regulator: Navigating a Receivership in Alberta's Oil Patch
Small Producers Bear the Brunt of LLR Program Changes
Assigning Contracts in Canadian Insolvency Proceedings
Assigning Contracts in Canadian Insolvency Proceedings
Purchasers of Canadian Businesses: Beware of Successor Employer Laws
Increased Security: the ERCB revises the licensee liability rating program
Clarifying COMI: Locating a Debtor's Centre of Main Interests
Lifting the Stay – Is the "Doomed to Fail" Argument Doomed to Fail?
Keeping an eye on the ball: Ontario Court scrutinizes related party transactions
Pensions v. Insolvency: Applying Indalex
Re Indalex Limited: New Pension Deficiency Wrinkles for Financiers
The Use of Releases in CCAA Restructuring Proceedings: How Wide is the Net?
Recognition of U.S. Plan Confirmation Order Under the CCAA
Canadian Business Restructuring Law: When Should a Court say 'No'?
Eligible Financial Contracts vs. Insolvency: Round II
Identifying Eligible Financial Contracts: More Than a Financial Purpose
Canada Q&A - Restructuring & Insolvency
BC Court Expands Rights of Unpaid Suppliers
Flawed Canadian Insolvency Law Reform Enacted?
Mums Unlimited Incorporated and 3-D Greenhouses Inc. ("3-D Greenhouses") London 04-CL-5609 (Ontario A.C.J.), unreported endorsement
Ontario Court of Appeal Reverses Decision of Superior Court and Accepts Crown Super-Priority for GST Claims in CCAA Proceedings
Ontario Court of Appeal Accepts Crown Super-Priority for GST Claims in CCAA Proceedings
Court of Appeal Affirms Immediate Effectiveness of Real Property Vesting Orders
Who is in Control? A Commentary on Canadian DIP Lending Practices
Case Comment: Distinctions Without a Policy: The Inconsistent Treatment of GST Obligations of Insolvent Companies
Commercial Insolvency Law Reform: Recommendations by the Standing Committee for Amendment to the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act
Senate Committee Recommends Bold Insolvency Law Reforms
Private Equity in Canada
Case Comment: Back to Bake Sales: Defining the scope of 'related businesses' conducted by charitable organizations and foundations

News

McMillan lawyers recognized in US/Canada Cross-Border Guide 2019
McMillan LLP partner Adam Maerov named winner the 2018 Kathryn R. Heidt Memorial Award
McMillan lawyers are well represented in the 2019 edition of Chambers Canada
McMillan lawyers recognized in US/Canada Cross-Border Guide 2018
McMillan lawyers are well represented in the 2017 edition of Chambers Canada
McMillan lawyers are well represented in inaugural edition of Chambers Canada
McMillan lawyers recognized in 2015 Chambers Global
Fourteen McMillan Lawyers featured in the Lexpert 2014 Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada
McMillan lawyers are well represented in the 2014 Chambers Global Directory
Lexpert names Amandeep Sandhu one of the Leading Lawyers in Canada Under 40
McMillan lawyers are well represented in the 2013 Chambers Global Directory
McMillan Lawyers are well represented in the 2012 Chambers Global Directory
McMillan Lawyers are well represented in the 2011 Chambers Global Directory

Education

  • University of Toronto, JD - 2002
  • University of Alberta, B.Comm. - 1996

Year Of Call

  • Called to the Alberta bar - 2013
  • Called to the Ontario bar - 2003

Practices

financial services
restructuring and insolvency
lending syndicates/secured creditors
challenged companies/debtor mandates
investments and acquisitions
cross-border restructuring
court officer representations
security enforcement

Industries

food, beverage and agribusiness
oil and gas
automotive
media, communications and entertainment
life sciences

Directorships and Professional Associations

  • Canadian Bar Association
  • American Bar Association
  • Turnaround Management Association

Awards & Rankings

  • Recognized by the 2019 Lexpert Guide to the US/Canada Cross-Border Lawyers in Canada as a leading Canadian lawyer in cross-border practices
  • Recipient of the 2018 Kathryn R. Heidt Memorial Award, Business Law Section of the American Bar Association
  • Recognized by IFLR1000 Financial and Corporate Guide 2019 as a Notable Practitioner in Restructuring & Insolvency
  • Ranked by Lexpert Guide (2018) as a leading US/Canada Cross-Border Lawyer in Canada
  • Ranked by Chambers Canada 2016, 2017,  2018, and 2019 in the area of Restructuring/Insolvency
  • IFLR 1000 Financial and Corporate Guide notable practitioner in Financial and Corporate: “Thorough and committed to our needs.”
  • Ranked by Chambers Global: The World's Leading Lawyers for Business 2015 in the area of Restructuring/Insolvency
  • Ranked by Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada 2014 as a Corporate Lawyer to Watch in the area of Corporate Restructuring
  • Ranked by Chambers Global: The World's Leading Lawyers for Business 2011 & 2012 - "Up and Coming"
vcard

Adam Maerov is a partner in the firm's Corporate Restructuring Group. As a member of the group, Adam's practice includes all aspects of insolvency law including workouts, reorganizations, bankruptcies, receiverships, liquidations and security enforcement.

Adam has advised banks, financial institutions, asset based lenders, hedge funds, borrowers, directors and officers, customers, unsecured creditors and suppliers in domestic and cross-border restructuring proceedings.

Adam regularly advises court appointed receivers, trustees in bankruptcy, monitors and purchasers of distressed assets. Adam is a co-chair of a task force developing a model asset purchase agreement for the Business Bankruptcy Committee of the American Bar Association.

  • Counsel for Niko Resources Limited in connection with the out of court restructuring of senior and second lien debt
  • Counsel for Atikwa Resources in connection with its restructuring efforts
  • Counsel for Wells Fargo as Agent under credit facility to Big Eagle Energy Services
  • Counsel for court appointed receiver of Magnum Energy
  • Counsel for plan sponsor in relation to Shoreline Energy Corp. CCAA proceedings
  • Counsel for Canadian Association of Insolvency and Restructuring Professionals as intervener in Redwater appeal to Alberta Court of Appeal
  • Counsel for proposal trustee of Leader Energy Services
  • Counsel for proposal trustee of Casa Energy Services
  • Counsel to Supreme Group Inc., pre-filing lender and DIP lender to FairWest Energy Corporation
  • Counsel to secured creditor to a leading chain of hardware and building centers
  • Counsel to senior secured lender to a number of Canadian technology and life sciences debtors in connection with receivership proceedings and restructurings
  • Counsel to Great Basin Gold in connection with its reorganization proceedings under the Companies' Creditors Arrangement Act 
  • Counsel to JPMorgan Chase Bank N.A., Agent for the DIP Lenders to Catalyst Paper Corporation
  • Counsel to Crystallex International Corporation in connection with its restructuring proceedings under the Companies' Creditors Arrangement Act  
  • Counsel to The Bank of Nova Scotia, the Administrative Agent for separate lending syndicates to the Canwest publishing and media groups
  • Counsel to A&M Cookie Company in connection with its successful reorganization under the Companies' Creditors Arrangement Act
  • Counsel to Royal Bank of Canada, the Administrative Agent for the lending syndicate to Quebecor World Inc.
  • Counsel to Pliant Corporation in relation to its cross-border restructuring under the Companies' Creditors Arrangement Act and Chapter 11 of the Bankruptcy Code
  • Canadian counsel to the Unsecured Creditors Committee in connection with the reorganization of Spiegel Corporation
November 2017
Redwater Energy - Take 3

Insolvency Bulletin

February 2017
Pre-Packs under the Companies' Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness

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

October 2014
Round table: Bankruptcy & Restructuring 2014
Corporate LiveWire
August 29, 2014
Assigning Contracts in Canadian Insolvency Proceedings
Commercial Insolvency Reporter
Reproduced with permission of the publisher LexisNexis Canada Inc. from Commercial Insolvency Reporter, Vol. 26, No. 6, August 2014
July 2014
Assigning Contracts in Canadian Insolvency Proceedings
Restructuring and Insolvency Bulletin
January 2014
Increased Security: The LLR Program and Bulletin 2013-09
Authored by: Adam Maerov and Kristen Haines
Published in the CAPL Negotiator
January 2014
Purchasers of Canadian Businesses: Beware of Successor Employer Laws
American Bankruptcy Institute Journal
September 2012
Lifting the Stay – Is the "Doomed to Fail" Argument Doomed to Fail?
Restructuring and Insolvency Bulletin
April 2011
Re Indalex Limited: New Pension Deficiency Wrinkles for Financiers
Restructuring & Insolvency Bulletin
February 2011
The Use of Releases in CCAA Restructuring Proceedings: How Wide is the Net?
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
November 2010
Recognition of U.S. Plan Confirmation Order Under the CCAA
Corporate Restructuring Bulletin
Fall 2008
Canadian Business Restructuring Law: When Should a Court say 'No'?
The Banking & Finance Law Review, Fall 2008
January 2008
Eligible Financial Contracts vs. Insolvency: Round II
Annual Review of Insolvency Law - 2007 - Janis P. Sarra, Editor
July 2006
Identifying Eligible Financial Contracts: More Than a Financial Purpose
Restructuring and Derivatives Bulletin
June 2006
Canada Q&A - Restructuring & Insolvency
PLC Cross-border Restructuring and Insolvency Handbook, 2006-07
February 2006
BC Court Expands Rights of Unpaid Suppliers
Restructuring Bulletin
November 2005
Flawed Canadian Insolvency Law Reform Enacted?
Restructuring Bulletin
February 2005
Mums Unlimited Incorporated and 3-D Greenhouses Inc. ("3-D Greenhouses") London 04-CL-5609 (Ontario A.C.J.), unreported endorsement
Insolvency News Vol. 20, No. 2
January 2005
Ontario Court of Appeal Reverses Decision of Superior Court and Accepts Crown Super-Priority for GST Claims in CCAA Proceedings
Corporate Finance Bulletin
January 2005
Ontario Court of Appeal Accepts Crown Super-Priority for GST Claims in CCAA Proceedings
Restructuring Bulletin
January 2005
Court of Appeal Affirms Immediate Effectiveness of Real Property Vesting Orders
Restructuring Bulletin
May 2004
Who is in Control? A Commentary on Canadian DIP Lending Practices
Presentation, Annual Insolvency and Restructuring Forum, the Canadian Association of Insolvency and Restructuring Professionals
April 2004
Case Comment: Distinctions Without a Policy: The Inconsistent Treatment of GST Obligations of Insolvent Companies
Canadian Tax Journal (2004) Vol. 52 No. 1
January 2004
Commercial Insolvency Law Reform: Recommendations by the Standing Committee for Amendment to the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act
Presentation, the OBA Institute
November 2003
Senate Committee Recommends Bold Insolvency Law Reforms
Restructuring Bulletin
October 2003
Private Equity in Canada
Private Equity Bulletin
September 2003
Case Comment: Back to Bake Sales: Defining the scope of 'related businesses' conducted by charitable organizations and foundations
Canadian Tax Journal (2003) Vol. 51 No. 4
May 25, 2017
Understanding The Impact: Bankruptcy, Insolvency And Managing Tenants
Calgary Real Estate Strategy & Leasing Conference, Calgary, Alberta
September 2015
Start Your Day with…Fraud? Transfers Under Value, Creditor Proofing and the Ethics of Asset Protection
Panel Chair, Canadian Bar Association Pan-Canadian Insolvency and Restructuring Law Conference, Winnipeg, Manitoba
September 2013
A "Supreme" year – The Supreme Court of Canada landmark decisions with regards to Indalex and AbitibiBowater
Panel Chair, Canadian Bar Association Pan-Canadian Insolvency and Restructuring Law Conference, Calgary
January 2013
Canadian and American Financing Transactions and Insolvency Proceedings - Key Differences
McMillan Corporate Seminar, San Francisco, California