Restructuring & Turnaround

Businesses in financial difficulty have options — but the window to act narrows quickly. Whether a company is facing creditor pressure, covenant defaults, or an unsustainable debt load, we work with management, ownership, and lenders to evaluate the situation, stabilize operations, and chart a path forward. Our work ranges from informal workouts to Court-supervised proceedings, and we bring the same rigour to a small-business restructuring as to a mid-market mandate.

Division I Proposals (BIA)

A Division I Proposal under the Bankruptcy and Insolvency Act allows a corporation to restructure its debts with the approval of creditors and the Court. It provides a stay of proceedings that halts creditor enforcement while a plan is developed. We act as Proposal Trustee in these proceedings, working with the debtor company and its creditors to negotiate and implement a viable plan.

CCAA Proceedings

For more complex restructurings, a filing under the Companies' Creditors Arrangement Act provides a flexible, Court-supervised framework. We act as Court-appointed Monitor, reporting to the Court and creditors while the company develops a plan of arrangement. CCAA proceedings are suited to situations requiring operational restructuring, asset sales, or multi-stakeholder negotiations.

Turnaround Planning and Viability Assessments

Before committing to a formal filing or restructuring, businesses need to know whether a turnaround is feasible. We conduct independent viability assessments, identify operational and financial levers, and develop turnaround plans that are grounded in realistic assumptions and stakeholder realities.

Cash-Flow Management and Stabilization

In a distressed situation, cash is oxygen. We work with management to develop and monitor rolling cash-flow forecasts, implement controls, manage critical vendor relationships, and ensure the business can continue to operate while restructuring options are explored.

Financial Modeling and Scenario Analysis

We build financial models that allow stakeholders to evaluate restructuring alternatives, test assumptions, and compare outcomes — from a formal proposal to a managed wind-down. Our models are designed to support decision-making, not just reporting.

Chief Restructuring Officer and Interim Management

When a business needs experienced hands at the helm during a restructuring, we step in as CRO or interim management. We work alongside existing management or in a standalone capacity, providing the financial and operational discipline the situation requires.

Stakeholder Negotiation and Creditor Communication

Restructurings involve competing interests — secured lenders, trade creditors, employees, regulators, and shareholders. We manage stakeholder communication, facilitate negotiations, and help parties find common ground that supports a viable outcome.

Business Continuity and Contingency Planning

Not every business will survive a restructuring, and prudent planning accounts for that. We help companies develop contingency plans that protect value and minimize disruption — whether the outcome is a successful turnaround, a sale, or an orderly wind-down.