Insolvency

Companies become insolvent for wide variety of reasons. Insolvency can arise in the context of a seizure execution, a foreclosure, or an enforcement of a general security agreement. These actions may lead to receivership or bankruptcy, and unique rules apply to each of the modes of enforcement. Further, the process can be quite time sensitive, with specific deadlines for making claims and protecting your rights, both in and outside of Court.

We, at Burns Fitzpatrick LLP, understand these nuances and recognize that different approaches must be taken in each situation. Knowing the priorities and recognizing superior rights among competing creditors allow our lawyers to strategically apply the rules based on the specific position of our client and the other competing stakeholders.

We prepare for applications to court on the basis that while clients have lived with the issue for months or years, judges may need to decide a case on short notice in one morning. With this in mind, we thoroughly review the circumstances of each case and develop strategies to reach a successful and cost-effective result for our clients. Whether it be a straightforward bankruptcy application or consumer proposal, or a complex and urgent CCAA restructuring, our lawyers have the expertise to get you through each step of the process from filing to discharge.

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