David is one of Canada’s leading insolvency lawyers. He brings highly experienced counsel in insolvency and restructuring mandates, with a focus on creative solutions and practical perspective for clients navigating distressed circumstances.As the head of Torys’ Corporate Restructuring and Advisory Practice, David regularly advises across all aspects of bankruptcy, proposals, wind-ups, liquidations, reorganizations, restructurings, receiverships and security enforcement, and advising boards of directors on corporate governance issues in distressed circumstances. He has extensive expertise in plenary and ancillary cross-border insolvency and restructuring matters, and brings a wealth of experience to commercial financing, private equity and M&A transactions.David’s long track record as corporate and litigation counsel to a wide range of parties—leading corporations, financial institutions, distressed investors and accounting firms—gives him a nuanced perspective of stakeholder interests on large, complex insolvency and restructuring transactions, helping clients navigate challenges and advance their business objectives.
Torys
The group at Torys frequently acts on the side of the main debtor, court officer, principal creditor and purchaser in insolvency mandates. David Bish and Tony Demarinis co-lead the practice from Toronto. Bish focuses on plenary and ancillary cross-border insolvency and restructuring matters, routinely advising clients in distressed circumstances. DeMarinis majors on negotiated workouts, recapitalizations, debt exchanges, refinancings and CCAA proceedings. Scott Bomhof brings over two decades of restructuring experience to the table and has particular strength assisting clients in the real estate, construction and life science sectors. Adam Slavens displays strength in such sectors as sports, cannabis and biotech. All lawyers mentioned work in Toronto.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- 'Torys has a great presence across Canada and always brings the right amount of experience and talent to all engagements. You know when you engage Torys that you will get an A-team in terms of effort and results.'
Key clients
- JT Canada LLC
- Ernst & Young
- Sheldon Libfeld and Jay Libfeld, co-owners of The Conservatory Group
- Mallinckrodt Pharmaceuticals
- Sagard Holdings and PIMCO
- Orion Mine Finance
- Arctic Canadian Diamond Company
- LifeWorks
- Calpine
- KSV Kofman
- DDJ Capital Management, Brigade Capital Management, Western Asset Management Company
- Medical Pharmacies Group
- PricewaterhouseCoopers
- Tarion Warranty
- FTI Consulting Canada
- The Cadillac Fairview Corporation
- Enforcement Committee of the Debenture Holders of CIM International Group
- KPMG
- Board of Directors of Great Panther Mining
Work highlights
- Advised Bank of Montreal on its acquisition of the AIR MILES Reward business of LoyaltyOne as part of its restructuring proceedings under the Companies' Creditors Arrangement Act.
- Advised Ernst & Young in its capacity as the Court-appointed Information Officer in the Part IIV CCAA Recognition Proceedings of Purdue Pharma.
- Advised Sheldon Libfeld and Jay Libfeld, co-owners of The Conservatory Group, on the restructuring of a multi-billion-dollar private real estate empire embroiled in a family ownership dispute.
Lawyers
Leading individuals
Tony is a widely recognized leader in his field, with decades of experience playing pivotall roles in prominent and successful Canadian and cross-border restructurings and insolvencies. Clients call upon his leading corporate and insolvency experience to drive many of this field’s most demanding transactions and proceedings.As Chair of Torys’ Canadian Corporate Restructuring and Advisory Practice, Tony advises a wide range of leading clients on all aspects of corporate financial restructurings or insolvencies, including transactions and proceedings involving negotiated workouts, recapitalizations, debt exchanges, re-financings, distressed investments and acquisitions, court proceedings under the federal Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act, plans of arrangement under the Canada Business Corporations Act, sales auctions, bridge and debtor-in-possession loans, and receiverships.Tony’s clients include public companies seeking to re-finance or restructure debt, lenders and lending syndicates, ad hoc bondholder groups, bridge and debtor-in-possession lenders, financial sponsors, distressed business purchasers, exit lenders, receivers, monitors and information officers. He has deep expertise across many industry sectors, including energy, mining, oil and gas, retail, entertainment, manufacturing, financial services, real estate, media, tobacco, forestry, agriculture, telecommunications and technology.
Next Generation Partners
Adam’s commercially minded and rigorous counsel helps clients find solutions and realize goals in their restructuring and insolvency matters. Adam advises and represents creditors, investors and purchasers, restructuring corporations, equity holders and official court-ordered appointees in the financial restructurings of distressed companies in out-of-court workouts and refinancings as well as formal proceedings under the Companies’ Creditors Arrangement Act and arrangements under the Canada Business Corporations Act.