In Canada, a court officer may be appointed to monitor a court-supervised restructuring, or carry out the involuntary sale of a business or the liquidation of assets in a bankruptcy or receivership. In all cases, these officers have duties and responsibilities prescribed by statute and pursuant to orders made in the applicable insolvency proceeding. The manner in which a court officer goes about discharging those duties and responsibilities and deals with various stakeholders can be critical to the outcome of the case.
McMillan's Restructuring and Insolvency Group regularly represents monitors, receivers, bankruptcy trustees, chief restructuring officers and other court-appointed officers. This requires a deep understanding of the proper role of the court officer, the surrounding circumstances, business acumen, and the exercise of sound judgement. We have successfully guided court officers through some of the most complex and challenging situations.
McMillan professionals help clients lead by:
- Representing monitors, receivers, trustees, CROs and other court-appointed officers
- Resolving claims, priorities and issues that may arise during the course of an insolvency proceeding
- Providing a balanced perspective between the interests of the debtor, creditor and other key stakeholders
- Providing credibility with financial institutions, creditor groups, restructuring professionals and other third party advisors