Osler represented Comark Inc. (“Comark”) in its CCAA proceedings. Comark is a leading Canadian specialty apparel retailer that operated over 350 stores across Canada under three major banners including, Bootlegger, Ricki’s and Cleo. Comark’s business and the vast majority of its stores were sold as a going concern in the CCAA proceedings at the conclusion of a robust sales process in a difficult retail environment.
Osler developed and implemented a novel transaction structure which enabled Comark to continue to receive supply from offshore suppliers on credit by working with an independent third party to provide guarantees to such suppliers. Without this structure, it is unlikely that Comark would have been able to continue as a going concern.
Osler’s team included Marc Wasserman, Michael De Lellis and Sandra Abitan (Insolvency & Restructuring), Sonja Pavic (Litigation), Mary Abbott (Corporate), Sven Poysa (Labour & Employment), Shuli Rodal (Competition/Antitrust) and Kevin Morley (Financial Services).