Dennis K.
Fitzpatrick*

Dennis Fitzpatrick advises commercial clients on the basis of applicable law in the boardroom and where necessary in the courtroom.  Many of the transactions undertaken require court supervision as there may be a dispute as to commercial rights or inadequate value to satisfy all claims.  Considering the in court and out of court alternatives to resolve disputes 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. He represents insolvent debtors in restructuring transactions against a creditor group as a whole. He also acts as the registered office to a wide variety of companies, from start up to established business and in that context offers commercial advice on all aspects of business and, in particular, on purchase and sale transactions.

Dennis recognizes that commercial insolvency is real time litigation in the sense that the business may be ongoing and the creditors remedies coincide with the continuation of the business. Timing of enforcement may be 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 key considerations in strategic enforcement. Accordingly, asset protection and realization is driven by legal principles and strategic action applied together.

He 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 most chartered banks; and currently acts for BDC, RoyNat and CIBC.

He has 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. Leagues Assets Corp., the Falls and Sandhills Golf Courses, Baldy Ski Resort and Yukon Zinc.  The firm 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.