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Business Solutions and Restructuring

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The current economic downturn presents new challenges and opportunities for businesses. Davis LLP is committed to assisting clients meet their needs by developing creative and practical legal and business solutions that are right for the times.

The Davis LLP Business Solutions & Restructuring Team has broad experience domestically and internationally to help clients anticipate problems, identify opportunities and implement proactive strategies. Co-chairs Shelley C. Fitzpatrick, Justin R. Fogarty and Larry B. Robinson, Q.C., work with a cross-disciplinary group of lawyers and professionals. The Business Solutions and Restructuring Group aims to transform the way lawyers and professionals work and interact with clients. Our clients benefit from strategies that go beyond traditional legal options. Our goal is to provide clients with creative solutions that will give them the tools they need to achieve their business objectives. We offer the next generation of legal services.

Our lawyers advise with respect to security instruments, registration and priorities of claims and secured charges, the Personal Property Security Act, Bankruptcy and Insolvency Act, Companies' Creditors Arrangement Act, Income Tax Act and other federal and provincial legislation affecting debtors and creditors.

We provide timely, creative, strategic and practical advice to, and negotiate on behalf of, creditors and individual debtors to assist in addressing and resolving the financial issues they face.

The team also acts for trustees, receivers, liquidators and monitors in bankruptcies, receiverships, windings-up, priority disputes, and Companies' Creditors Arrangement Act proceedings. We advise lenders and debtors in relation to debtor-in-possession financing.

Our group provides advice to and represents the interests of financial institutions when their customers experience financial problems or undergo restructuring and our foreclosure department provides representation and advice to mortgagees and mortgagors in commercial and residential foreclosures.

We also have significant experience in relation to fraud matters and investigate and pursue the recovery of misappropriated assets. Where appropriate, we obtain injunctions and asset-freeze orders prohibiting the removal or relocation of assets and utilize the provisions of both provincial and federal legislation to attack and set aside the fraudulent transfer and disposition of assets. Our lawyers have also acted as independent, court-appointed monitors in relation to the supervision and execution of Anton Piller Orders ("civil search warrants").

We also provide advice to boards of directors and individual directors and officers relating to corporate governance matters and their respective fiduciary duties, obligations and liabilities in circumstances where their subject corporation may be faced with solvency issues.

In any given case, we are also able to assist our clients by drawing upon the knowledge and experience of other lawyers in the firm and utilize the significant resources available in our seven offices located across Canada and our office located in Tokyo.

Representative Matters of Members of the Business Solutions and Restructuring Group

• Counsel for Canadian Forest Products Ltd. as creditor and counter-party to supply contract in the Chapter 11 and Companies' Creditors Arrangement Act proceedings by forestry company: Pope & Talbot Ltd.
• Counsel to most Canadian airport authorities in CCAA proceedings: Air Canada
• Counsel for Trustee re Canada's largest mining fraud: Bre-X Minerals
• Counsel for monitor in CCAA proceedings involving expedited sale proceedings of operating assets: Coe Newnes/McGehee Inc.
• Counsel for group of Investors for recovery of significant trust funds in liquidation of Canadian Commercial Bank: Canadian Deposit Insurance Corp. v. Canadian Commercial Bank
• Counsel to Liquidator: Sovereign Life Assurance Company
• Counsel for provincial government asserting trust claims in Chapter 11 and Companies' Creditors Arrangement Act proceedings by distributor operating in the U.S. and Canada: Core-Mark
• Counsel for trustee in bankruptcy and judicial trustee of major Canadian airline and travel group of companies: Canada 3000
• Counsel for significant secured lender to discontinue CCAA proceedings and enforce secured claim: Hunters Trailer and Marine
• Counsel to Enron Corp. in the CCAA restructuring of its Canadian interests

Recognition

Our Business Solutions and Restructuring Group lawyers are recognized as leaders in insolvency law by LEXPERT, the Chambers Global Guide and the Best Lawyers in Canada. Our lawyers are sought-after lecturers on corporate governance, creditor-debtor relations, fraud and insolvency-related subjects.

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