Day 1 – Wednesday, January 20, 2010
8:00 Registration Opens and Coffee Served
8:45 Opening Remarks from the Co-Chairs
David F.W. Cohen
Partner
Gowling Lafleur Henderson LLP
D.J. Miller
Partner
ThorntonGroutFinnigan LLP
9:00 A Look Ahead: Judges’ and Regulators’ Panel on the Future of Insolvency and Restructuring Law
Moderator:
Grant B. Moffat
Partner
ThorntonGroutFinnigan LLP
Panelist:
Lynda M. Colley
Senior Policy Analyst
Office of the Superintendent of Bankruptcy
- Advice from the bench: reviewing the best and worst practices for insolvency proceedings what judges want to see from practitioners and companies avoiding mistakes and blunders addressing areas of concern
- Examining and interpreting recent legislative amendments what impact will they have on judicial trends?
- Understanding the place and impact of U.S. bankruptcy law on the Canadian system
- Lessons learned: analyzing recent court decisions
10:00 Comprehending the Current Economic Conditions and the Impact on Insolvencies & Restructurings
Aron Gampel
Vice President & Deputy Chief Economist
Scotiabank
- Analyzing the current market trends: trying to predict the future of insolvencies/restructurings
- How strong will the market recovery be after the recent recession? have the markets changed fundamentally? how will companies and industries be impacted?
- Dealing with insolvencies and restructurings coming out of the recent recession
- How has the Canadian economy held up in comparison to the U.S. economy?
- Overcoming the lack of available financing for restructurings: what options do companies have?
- Which industries are still likely to fall victim to the recent economic turmoil?
10:45 Networking Refreshment Break
11:00 Navigating Employee and Labour Issues During Insolvencies & Restructurings
Jennifer Stam
Ogilvy Renault LLP
Joseph Pasquariello
Partner
Goodmans LLP
- Analyzing the interaction between insolvencies and employee issues
- Exploring how recent amendments to the Wage Earner Protection Program Act (WEPPA) impact employee issues during insolvencies/restructurings how are employees treated under WEPPA provisions? how are employees accessing the program and dealing with trustees in bankruptcy? what is the impact of these programs on lenders and creditors?
- Dealing with termination and severance pay reviewing recent decisions from the Ontario and Quebec courts
- Best practices for dealing with unions and other employee representatives how are collective agreements treated during insolvencies/restructurings?
- Taking on employerrelated liabilities during asset sales: how are successor employers liable?
- Examining the appointment of employee representative counsel in CCAA proceedings
- Lessons learned from the recent Nortel proceedings: dealing with complex employee issues
12:00 Networking Luncheon for Delegates and Speakers
1:15 Successfully Utilizing Pre-Packaged Administrations
David F.W. Cohen
Partner
Gowling Lafleur Henderson LLP
Aaron L. Hammer
Partner
Freeborn & Peters LLP (United States)
- Understanding how prepackaged administration works how do they differ from a regular insolvency? what can we learn from the U.S. experience? are certain types of businesses better suited for prepackaged administration?
- Analyzing the benefits and drawbacks of prepackaged administration
- Best practices for negotiating prepackaged administration how do the negotiations work? overcoming hurdles
- Getting approval from the courts: under what circumstances do the courts approve or disapprove of the arrangements? structuring prepackaged administrations to ensure the court’s approval
- Examining the consequences if a prepackaged administration falls apart what are the options for the company, its creditors and lenders?
2:15 Overcoming Challenges in Cross-Border Debtor-in-Possession (DIP) Financing and DIP Guarantees
Linc Rogers
Partner
Blake, Cassels & Graydon LLP
Gregg M. Galardi
Partner
Skadden, Arps, Slate, Meagher & Flom LLP (United States)
- Understanding U.S. debtorinpossession financing (DIP)
- Getting guarantees from Canadian subsidiaries: how are U.S. debtorinpossession lenders accomplishing this?
- How is this unfair for the Canadian subsidiaries? dealing with the issue of the Canadian subsidiary being a separate legal entity what is the response of the U.S. parent company?
- Examining the response of Canadian courts to DIP financing guarantees are the courts pushing back? under what circumstances will the courts approve guarantors? analyzing recent cases: Indalex Limited
- Dealing with superpriority claims
- What criteria are the courts looking for when deciding whether to approve DIP financing guarantees? financing alternatives prejudices for other creditors
- Lessons learned from the Circuit City experience
3:15 Networking Refreshment Break
3:30 Best Practices for Managing Cross-Border Insolvencies & Restructurings
Sheryl E. Seigel
Partner
Lang Michener LLP
Derek C. Abbott
Partner
Morris, Nichols, Arsht & Tunnell LLP (United States)
- Understanding the differences between Canadian and U.S. restructuring law and practice
- Comparing and contrasting Chapter 15 and Chapter 11 of the U.S. Bankruptcy Code
- Considerations in structuring the crossborder filings of affiliated debtors
- Top tips for organizing your crossborder professional team
- Coordinating concurrent proceedings during a crossborder insolvency/restructuring
- Best practices for conducting a crossborder sale of assets
- Examining the latest Canadian and U.S. cases concerning crossborder insolvencies/restructurings
4:30 Mastering a Distressed Company Turnaround
Blair Davidson
President
BDO Dunwoody LLP
- Learning how to identify opportunities for turnarounds
- Top tips for maximizing asset values
- Analyzing the financing options for turnarounds — are nontraditional financing options available?
- Successful strategies to stabilize the operational and financial performance of the company
- Best practices for negotiating with creditors
- Dealing with employees of the distressed company
- Developing a corporate governance program
5:15 Co-Chairs’ Closing Remarks
Conference Adjourns
Day 2 – Thursday, January 21, 2010
8:15 Coffee Served
8:45 Opening Remarks from the Co-Chairs
9:00 Dealing with the Impact of Insolvencies & Restructurings on Pension Plans
Hugh O’Reilly
Partner
Cavalluzzo Hayes Shilton McIntyre & Cornish LLP
Andrea Boctor
Stikeman Elliott LLP
- Understanding how pensions are dealt with during insolvencies/restructurings how are pensions funded during this time? what happens to outstanding pension amounts owed by the company?
- Examining regular and supplementary pensions under the Companies’ Creditors Arrangement Act (CCAA)
- Top tips for dealing with unions and their pension funds during insolvencies/restructurings
- Lessons learned from the recent AbitibiBowater pension situation
- How are the courts ruling on pension contribution during insolvencies/restructurings?
10:00 Networking Refreshment Break
10:15 Dealing with Directors’ and Officers’ Liability Arising from Insolvencies & Restructurings
Catherine Francis
Partner
Minden Gross LLP
- Exploring the potential liability of directors and officers during insolvencies/restructuring liability under the Bankruptcy and Insolvency Act (BIA), Canada Business Corporation Act, the Income Tax Act and other legislation statutory liability for unpaid wages, source deductions and sales taxes potential claims by creditors, trustee in bankruptcy and other parties
- Is there a cap on the amount that directors and officers are liable for?
- Are there exceptions to when directors and officers are liable? defences to statutory and other claims
- When should directors remove themselves from the board?
- Successful strategies for directors and officers to protect themselves from liability best practices for D&O risk management insulating directors and officers from liability in restructuring plans
- Understanding how D&O insurance works in insolvencies/restructurings
- Class action suits against directors and officers in insolvencies/restructurings how are the courts responding to these lawsuits?
11:00 Identifying and Preventing Fraud
H. Ray Haywood
Director
Investigations & Forensic Services
PricewaterhouseCoopers LLP
- Identifying fraud indicators: spotting the warning signs
- Developing risk management strategies to detect and prevent fraud
- Strategies for putting together an investigatory team
- Using computers and other technology for fraud investigations
- Coordinating fraud investigations with law enforcement knowing the proper way to collect evidence
11:45 Handling Tax Issues that Arise During Insolvencies & Restructurings
Gregory R. Wylie
Partner
Osler, Hoskin & Harcourt LLP
- Best practices for structuring transactions to avoid tax liabilities and preserving tax attributes
- The debt forgiveness rules of the Income Tax Act: avoiding or mitigating their impact in a restructuring
- Reviewing the relevant sections of the Income Tax Act how do these sections apply to insolvencies and restructurings?
- Analyzing how new purchasers look at the tax liabilities of insolvent or restructured companies being mindful of claims by the Canada Revenue Agency (CRA)
- Examining tax priorities under the Companies’ Creditors Arrangement Act (CCAA)
12:30 Co-Chairs’ Closing Remarks
Conference Concludes
Conference Details
