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Distressed Oil & Gas

The North American energy industry continues to face significant financial distress as a result of fluctuating commodity prices and challenging petroleum industry economics. The resulting wave of insolvencies and consolidations has fundamentally reshaped the traditional oil and gas landscape.

The Blakes Restructuring & Insolvency group has broad experience in distressed oil and gas workouts and restructurings, including under the Companies’ Creditors Arrangement Act (CCAA), the Bankruptcy and Insolvency Act (BIA), the Canada Business Corporations Act (CBCA), restructuring of debt under provincial corporate statutes and cross-border recognition of Chapter 11 proceedings under the United States Bankruptcy Code. Our Oil & Gas insolvency lawyers have advised corporate debtors, Canadian and U.S. banks and financial institutions, restructuring financial advisory firms that act as court officers, investors and other stakeholders in virtually every major Canadian and cross-border insolvency proceeding in this industry in the last 10 years.

Our Restructuring & Insolvency lawyers are recognized leaders within Canada and internationally for their expertise in domestic and cross-border insolvency matters. Our national team also works collaboratively with U.S. and international law firms on multi-jurisdictional matters to ensure our common clients receive the highest quality of service in a timely, efficient and cost-effective manner. Through creative problem-solving, we identify strategic solutions and maximize value for our clients as they navigate complex restructuring matters.