People Mentioned
Partner, Insolvency and Restructuring, Toronto
With tariff uncertainty and fears for a weakening economy, creditors are becoming more aggressive in their pursuit of insolvency proceedings, says Marc Wasserman, partner and Chair of the Insolvency and Restructuring practice, in an interview with Lexpert.
Marc says Canadian companies under stress have fewer opportunities to delay tough decisions. Distressed property developers are especially vulnerable, as loan values increasingly exceed underlying land values. Early engagement with lenders and restructuring advisors may prove the difference between a controlled outcome and a costly descent into court-supervised proceedings.
“It’s like a divorce — if you know it’s coming, speak to a lawyer early so you don’t make mistakes you can’t undo,” says Marc.
He emphasizes that restructuring options for debtors are not confined to court filings. Forbearances, equity injections, subordinated loans, or liability management exercises can provide alternatives. “It’s very bespoke,” says Marc. “Every situation is unique.”
While real estate is among the hardest-hit distressed sectors, Marc says the automobile, steel and lumber industries are closely watched.
Read the full article by Zena Olijnyk posted on October 1, 2025.
People Mentioned
Partner, Insolvency and Restructuring, Toronto
