Dennis K.
Fitzpatrick*

Dennis Fitzpatrick advises commercial clients based on the applicable law, both in the boardroom and where necessary, in the courtroom.  Many transactions require court supervision of disputes as to commercial rights or to establish priorities where there is inadequate value to satisfy all claims.  A consideration of both the in court and out of court alternatives permits clients to examine their rights from both perspectives.

Dennis represents banks, secured lenders, franchisors, landlords and other commercial entities in enforcing their rights, often against insolvent debtors. Timely enforcement of creditors’ rights in foreclosure and under the Personal Property Security Act is the foundation of the practice. Dennis represents insolvent debtors in restructuring transactions against their creditor groups.  Dennis recognizes that commercial insolvency is real time litigation in the sense that a business is ongoing and creditors’ realizations are maximized with the continuation of a business.  Timing of enforcement is key to recovery. Value may be preserved or enhanced by the manner in which the business is continued. The requirements of business operation to the community, employees and the principals of the debtor are paramount considerations in strategic enforcement.  Accordingly, asset protection and realization are driven by legal principles and strategic action applied together.

Dennis has established relationships with the special loans groups in major banks and with many trustees in bankruptcy in their capacity as trustee, receiver or consultant. Dennis has acted for many chartered banks. Currently, Dennis acts for BDC, RoyNat and CIBC.

Dennis has also acted for landlords and tenants in lease disputes and participated in Companies Creditors Arrangement Act restructurings starting in 1982 with the early proceedings for the debt restructuring of Daon Development Corp.  Those attendances have continued to the present when he as acted on the restructuring of Interac Forest Products, Pacific Shores., League Assets Corp., the Falls and Sandhills Golf Courses, Baldy Ski Resort and Yukon Zinc. Dennis also acts as independent counsel for receivers and trustees in commercial insolvencies.

As a senior member of the Vancouver Insolvency Bar, he has been a partner with the firm since 1990. Completing articles at Clark Wilson in 1981, he was introduced to the downturn in the 1980’s which strongly influenced the legal principles which now govern debt enforcement.

Dennis and his colleagues also act as the registered office to a wide variety of companies, from startups to established businesses and in that context offers commercial advice on all aspects of business and, in particular, on purchase and sale transactions.