There are many reasons why your business may find itself facing financial difficulties.

• You may have experienced financial difficulties during a start-up period
• Your industry may have gone through a major market adjustment
• You may have lost a major customer
• Your industry may have been adversely affected by changes in foreign exchange rates
• You may be facing immense competition from foreign market entries
• You may need to downsize from your current leased premises
• You may have received a large or unexpected assessment for government taxes
• You may have been the victim an external or internal fraud

You may be experiencing immense pressures from any one of the following:

• Your major lender and banker
• Your critical suppliers
• Your landlord
• Government collection agencies

Our highly skilled team of Chartered Accountants and Chartered Insolvency and Restructuring Professionals has extensive experience in dealing with the full range of issues you may be facing. We understand the importance of quick and decisive action and having the talent and resources to handle your situation.  We are proud of our reputation for developing both practical and innovative solutions in a cost effective manner.

In addition, we are recognized and respected by all of the major financial institutions as qualified members of the Canadian Association of Insolvency and Restructuring Professionals and as Licensees under the Bankruptcy & Insolvency Act to act in any of the following formal capacities:

1. Court Appointed Receivers
2. Interim Receivers
3. Trustees-In-Bankruptcy
4. Reorganizations under the Bankruptcy and Insolvency Act or under the Companies' Creditor Arrangement Act Appointments

Manufacturer of Road Construction Equipment

Appointed as Receiver by an asset-based lender of an Ontario manufacturer. Finalized sale of the business as a going concern to provide a full $6 million payment to the secured lender and 30% to all unsecured creditors.

Acted as Proposal Trustee and Receiver for a high profile retail chain. Liquidated the company’s inventory through a public sale and shielded the bank from the adverse media coverage and publicity resulting from 1,200 customer consignments. 

Consumer Battery Manufacturer

Appointed as Receiver for an asset-based lender of a NASDAQ listed Ontario manufacturer of consumer batteries having sales throughout North America.   Continued the operations of the business in order to complete the company’s work-in-process, while enhancing the collectability of the accounts receivable and entertaining offers to purchase the business on a going-concern basis.

Consulting to Asset-Based Lender

Engaged to perform detailed examinations and evaluations of several proposed borrowing facilities for a Tier 1 US bank, including an Ontario shoe manufacturer ($90 million), a full phase British Columbia hardwood sawmill/manufacturer ($18 million) and a manufacturer and distributor of high end fur coats ($5 million). Our engagements generally involved a review of the companies’ history, products, ownership structure, an assessment of the strengths and weaknesses of the companies, a detailed analysis of key assets, liabilities and related books and records, together with a recommendation on the proposed advance rates; all in accordance with the bank’s standard Survey Examination program.

Manufacturer & Distributor of Smoke alarms and Carbon Monoxide Detectors

On the application of an asset-based lender, appointed by Court as Monitor under a CCAA proceeding and subsequently appointed as Receiver, of a NASDAQ/TSX listed manufacturer having operations in Ontario, Mexico, the U.S.A, and the U.K.    We operated the Company for several months and negotiated a ‘going-concern’ sale of the business, resulting in full payment to the major secured creditors of approximately $15 million.

On application by a Schedule One bank, appointed as Receiver/Manager of a mid-size fresh poultry processor. Operated the business for several months under provincial marketing quotas in order to maintain the goodwill of the business and sold it on a going concern basis resulting in a full payment to the secured creditor.

Manufacturer of Health and Safety Products

On application by two Schedule One banks, appointed as Receiver of an Ontario manufacturer having combined secured debts of approximately $4 million. Negotiated a going concern sale of the business within a 3-month period.