Evan Cobb’s practice is focused on restructuring and insolvency matters. Cobb represents clients in both informal restructuring matters as well as proceedings under the Companies’ Creditors Arrangement Act and the Bankruptcy and Insolvency Act. He regularly acts for debtors, creditors, and court-appointed officers in many of Canada’s largest domestic and cross-border restructuring and insolvency matters.
On Aug. 16, Champion Iron Limited, through its subsidiary Quebec Iron Ore Inc., completed a $185-million Preferred Equity offering to CDPQ in addition to a US$200-million credit facility with the Société Générale and Bank of Nova Scotia.
On Aug. 16, Champion Iron Limited, through its subsidiary Quebec Iron Ore Inc., completed a $185-million Preferred Equity offering to CDPQ in addition to a US$200-million credit facility with the Société Générale and Bank of Nova Scotia.
On July 20, 2018, TransAlta Corporation (“TransAlta”) completed a $345 million secured bond offering, by way of a private placement for its newly formed limited partnership, TransAlta OCP LP (the “Issuer”), which was secured by, among other things, a first ranking charge over all but a nominal percentage of the equity interests in the Issuer and its general partner, and a first ranking charge over all of the Issuer’s accounts and certain other assets (the “Financing”).
On May 31, 2018, an affiliate of Fairfax Financial Holdings Ltd. (Fairfax) acquired all of the share capital and business of Toys “R” Us (Canada) Ltd. Toys “R” Us (Canada) Ltee (Toys Canada) for a purchase price of $300 million subject to certain working capital adjustments. The share transaction, which was completed in connection with Toys Canada’s emergence from restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA) and Chapter 11 of the U.S. Bankruptcy Code, has enabled Toys Canada to continue as a going concern without compromising creditor claims and preserved Toys Canada’s position as Canada’s leading toy and baby retailer.
On July 2, 2015, Data & Audio-Visual Enterprises Wireless Inc., operating as “Mobilicity”, was acquired by an affiliate of Rogers Communications Inc. in a transaction valued at $465 million. Mobilicity, a Canadian wireless telecommunications carrier, commenced creditor protection proceedings under the Companies’ Creditors Arrangement Act in September 2013. The transaction offered significant value to Mobilicity’s creditors and allowed Mobilicity to emerge from creditor protection as a going concern. The transaction ensures certainty of service for Mobilicity customers on the Rogers network and also results in Rogers gaining significant spectrum capacity in new markets which provides faster speeds and better quality for all Rogers customers. The transaction was subject to government and court approvals and was completed on July 2, 2015.
