Kelly Bourassa
Partner | Calgary
Calgary: 403-260-9697

Kelly is head of the Restructuring & Insolvency group in Calgary. She is experienced in all areas of corporate restructuring, including both the litigation and commercial aspects of work-outs, reorganizations, corporate arrangements, receiverships and other enforcement of security. Kelly has acted as strategic counsel to financial institutions, debtors, debtor-in-possession (DIP) lenders, secured and unsecured creditors, equity backers and court officers, including receivers, monitors and licensed insolvency trustees in complex domestic and cross-border insolvencies across a broad range of industries.

Chambers Canada wrote about her:.

“Recognized as extremely strong legal counsel to lenders and lender syndicates. Known for her "incredible expertise" in the oil and gas sector, she is praised by a client for "crafting strategies" and "giving great advice." She impressed with her recent appearance in the SCC acting for the appointing creditor in the receivership of Redwater Energy.”

SELECT EXPERIENCE

Some of the cases on the public record in which Kelly has been involved include representing:

  • The Term Loan Agent, as Canadian counsel in the cross border (CCAA/Chapter 11) restructuring proceedings of Hollander Sleep Products, LLC, one of the largest suppliers of pillows, mattress pads and other bedding products in the U.S. to the retail industry (manufacturing)

  • The plan administrator for the Sears Canada Inc. Registered Pension Plan in the Companies' Creditors Arrangement Act(CCAA) liquidation of Sears Canada (retail)

  • Jupiter Resources Inc. in its successful Canada Business Corporations Act (CBCA) reorganization proceedings (oil and gas)

  • The Insolvency Institute of Canada, as intervenor, in respect of the deemed trust priority appeal proceedings in the CCAA proceedings of Canada North Group Inc., et al. (oil and gas services)

  • The debtors, as Canadian counsel, in the multi-jurisdictional (sauvegarde/Chapter 11/CCAA) restructuring proceedings of the CGG Group (oil and gas services)

  • The debtors in the CBCA and CCAA proceedings of Lightstream Resources Ltd., 1863359 Alberta Ltd., LTS Resources Partnership, 1863360 Alberta Ltd. And Bakken Resources Partnership (oil and gas)

  • The lending syndicate in the CCAA proceedings of Endurance Energy Ltd. (oil and gas)

  • The lending syndicate, as Canadian counsel, in the cross-border (CCAA/Chapter 15) restructuring proceedings of the Sanjel Group (oil and gas services)

  • The agent to the lending syndicate, as Canadian counsel, in the cross-border (CCAA/Chapter 11) restructuring proceedings of the Quicksilver Canada entities (oil and gas)

  • The senior lenders in the receivership proceedings of Spyglass Resources Corp. et al., Twin Butte Energy Ltd., COGI Limited Partnership and Redwater Energy Corp. (oil and gas)

  • The lending syndicate, as Canadian counsel, in the cross-border (CCAA/Chapter 15) restructuring proceedings of the Parallel Energy group and Argent Energy group (oil and gas)

  • The senior secured lender in connection with a more than C$150-million debt investment in Laricina Energy Ltd., a major Canadian oil sands development and production company (oil sands)

  • The debtors in the CCAA proceedings of Bloom Lake General Partner Limited, Quinto Mining Corporation, 8568391 Canada Limited, Cliffs Québec Iron Mining ULC (formerly, Cliffs Québec Iron Mining Limited), Bloom Lake Railway Company Limited and The Bloom Lake Iron Ore Mine Limited Partnership (mining)

  • The court-appointed receivers of Questfire Energy Corp., Hyperion Exploration Corp., Ivanhoe Energy Inc., Palliser Oil & Gas Corp., Waldron Energy Corporation (oil and gas); Ladacor AMS Ltd. et al. (construction); and Phenomenome Discoveries Inc. et al. (pharma)

AWARDS & RECOGNITION

Kelly is recognized as a leading lawyer in the following publications:

  • The Best Lawyers in Canada - 2015-2020 (Insolvency and Financial Restructuring)

  • Chambers Canada: Canada's Leading Lawyers for Business - 2017-2020 (Restructuring & Insolvency)

  • Chambers Global: The World's Leading Lawyers for Business - 2014-2019 (Restructuring & Insolvency)

  • The Canadian Legal Lexpert Directory - 2013-2019 (Insolvency & Financial Restructuring)

  • The Legal 500 Canada - 2016-2019 (Recommended - Restructuring & Insolvency)

  • IFLR 1000: The Guide to the World's Leading Financial Law Firms - 2017 and 2019 (Restructuring & Insolvency)

  • Who's Who Legal: Thought Leaders - 2017-2018 (Restructuring & Insolvency)

  • Benchmark Canada: The Definitive Guide to Canada's Leading Litigation Firms and Attorneys - 2014, 2015, 2017 and 2018 (National Litigation Star: Insolvency; Provincial Litigation Star: Alberta - Insolvency)

  • Euromoney Expert Guides Rising Star - 2017 (Insolvency and Restructuring)

Kelly was awarded the first Annual Honourable Lloyd Houlden Research Fellowship from the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) for her working paper on eligible financial contracts in Canadian insolvency legislation.

PUBLICATIONS
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Blakes Bulletin on Restructuring & Insolvency, November 1, 2019.
Co-author: Long May You Run: Ontario Court of Appeal Clarifies the Treatment of Mineral Royalties in Insolvency Proceedings
Commercial Insolvency Reporter, Vol. 31, No. 6, pp. 54-58, August 2019.
Blakes Bulletin on Restructuring & Insolvency, January 31, 2019.
Co-author: Swift Justice? Use of Summary Trials in Restructuring Proceedings
Annual Review of Insolvency Law, February 9, 2018.
Co-author: Liens and Insolvency: Beware of the Nuances
Professional Insight, Bankruptcy & Restructuring, Financier Worldwide, July 2017.
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PROFESSIONAL APPEARANCES
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Presenter: Bank Litigation Update: Recent Case Studies
Blakes Business Class Seminar, Toronto, Ontario, June 26, 2019.
Co-presenter: Top Five Court Decisions with a Significant Impact on Business
Blakes Business Class Seminar, Calgary, Alberta, March 7, 2019.
Panellist: Paramountcy – Does Insolvency Always Trump?
Annual Review of Insolvency Law, Montreal, Quebec, February 1, 2019.
Panellist: Restructuring and Insolvency: A Cross-Country Year in Review
Blakes Business Class Seminar, Toronto, Ontario, January 23, 2019.
Co-presenter: Insolvency 101 in the Energy Industry
Canadian Bar Association, Energy Section, Calgary, Alberta, June 13, 2018.
Panellist: Managing Enterprise Risk - Spotlight on Directors’ and Officers’ Liability
Blakes Business Class Seminar, Calgary, Alberta, May 23, 2018.
Panellist: The Use of Summary Trials in Complex Proceedings
Annual Review of Insolvency Law, February 9, 2018.
Panellist: Restructuring and Insolvency: A Cross-Country Year in Review
Blake, Cassels & Graydon LLP Seminar, Toronto, Ontario, January 24, 2018.
Panellist: Managing Enterprise Risk: Spotlight on D&O Liability
Blakes Business Class Seminar, Toronto, Ontario, December 6, 2017.
Panellist: ABI Cross-Border Insolvency Program 2017
American Bankruptcy Institute, New York, New York, November 7, 2017.
Debater: Whether to adopt U.S. regime relating to DIP financing, use of cash collateral, adequate protection and other priority matters in Canada
Insolvency Institute of Canada Annual Conference and General Meeting, Banff, Alberta, September 15, 2017.
Panellist: Restructuring and Insolvency: Recent Canada - US Developments
Blakes Business Class Seminar, New York, New York, June 8, 2017.
Co-presenter: Energy Marketing and Credit Group Insolvency Primer
Energy Marketing and Credit Group Lunch and Learn, Calgary, Alberta, June 6, 2017.
Panellist: Insolvency on the Construction Project
Construction Dispute Resolution Series, Blakes Business Class Seminar, Calgary, Alberta, May 25, 2017.
Panellist: Legal & Judicial Case Analysis
2017 Insolvency & Restructuring Exchange, Canadian Association of Insolvency and Restructuring Professionals, Toronto, Ontario, May 15, 2017.
Co-presenter: Corporate Reorganization: What Business Lawyers Need to Know
CBA Skilled Lawyer Series 2017, Canadian Bar Association, Calgary, Alberta, May 9, 2017.
Moderator: Annual Debt Panel
Association of Corporate Growth, Calgary, Alberta, April 21, 2017.
Panellist: Disengagement CCAAs - Cause for Concern?
Annual Review of Insolvency Law Conference, Montréal, Quebec, February 16-17, 2017.
Panellist: Canada/US Cross-Border Insolvency
Canadian Bar Association, Insolvency Section, Calgary, Alberta, February 8, 2017.
Panellist: Restructuring and Insolvency: A Cross-Country Year in Review
Blakes Business Class Seminar, January 26, 2017.
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