Kelly Bourassa, KC How to pronounce this name. Partner | Calgary

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

Senior Lenders

• The senior lender in the receivership proceedings of Light Speed Logistics Inc. (transportation and logistics)

• The lending syndicate in the creditor-initiated CCAA proceedings of Chesswood Group Limited and its affiliates (financial services)

• The agent in the creditor-initiated CCAA proceedings of Long Run Exploration Ltd. (oil and gas)

• The senior lender and interim lender in the CCAA proceedings of Lynx (transportation)

• The senior lender in the cross-border proceedings of Structurlam Mass Timber Corporation, SLP Holdings Ltd., Structurlam Mass Timber U.S., Inc. and Natural Outcomes, LLC (manufacturing)

• The lending syndicate in the Canada Business Corporations Act (CBCA) restructuring proceedings of Source Energy Services Canada LP and its affiliates, including restructuring its US$157-million secured notes and amending and restating its C$80-million credit facility (oil and gas)

• The lending syndicate in the Alberta Business Corporations Act restructuring proceedings of Stuart Olson Inc., wherein Stuart Olson combined with Bird Construction Inc., pursuant to an arrangement agreement for aggregate consideration of C$96.5-million (construction)

• The lending syndicate in the complex restructuring proceedings (CBCA/CCAA) of Bellatrix Exploration Ltd., including certain precedential litigation relating to eligible financial contracts and priority disputes (oil and gas)

• The senior lender in the receivership proceedings of Redwater Energy Corp., including acting as lead counsel in a precedent-setting case before the Supreme Court of Canada (oil and gas)

Company-Side

• Jupiter Resources Inc. in its successful CBCA reorganization proceedings wherein Tourmaline Oil Corp. acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately C$60-million (oil and gas)

• Lightstream Resources Ltd., 1863359 Alberta Ltd., LTS Resources Partnership, 1863360 Alberta Ltd. and Bakken Resources Partnership in connection with their CBCA and CCAA proceedings (oil and gas)

• French-based CGG Group, as its Canadian counsel, in its multi-jurisdictional restructuring proceedings (oil and gas services)

Court Officers

• The court-appointed monitor in the creditor-initiated CCAA proceedings of Coast Automotive Group Inc., Coast North Vancouver Auto Sales Inc., Coast Auto Drayton Inc. and 2461765 Alberta Ltd. (automotive)

• The court-appointed receiver in the receivership of Mayfield Investments Ltd. and certain affiliates (hospitality and gaming)

• The court-appointed monitor in the CCAA proceedings of the Pride Group Holdings Inc. and certain affiliates (transportation)

• The proposal trustee in the Bankruptcy and Insolvency Act (BIA) proposal proceedings of Triple J Pipelines (2019) Inc., Triple J Pipeline Limited Partnership, Triple J Pipeline GP Inc. and 2142746 Alberta Ltd. (oil and gas services)

• The court-appointed monitor in the creditor-initiated CCAA proceedings of Altek Industrial Supply Ltd., Altek USA Holdings Corp., Altek Supply USA Inc., HDIM Protective Coatings Inc. and 610461 Alberta Ltd. (oil and gas services)

• The court-appointed monitor in the CCAA proceedings of Westphalia Dev. Corp. (land development)

• The proposal trustee and court-appointed monitor in the BIA proposal and CCAA proceedings of Razor Energy Corp., Razor Holdings GP Corp. and Blade Energy Services Corp. (oil and gas)

• The court-appointed receiver and trustee of the insolvent estate of RBee Aggregate Consulting Ltd. (construction)

• The proposal trustee in the BIA proposal proceedings of Petrolama Energy Canada Inc. (oil and gas)

• The court-appointed monitor in the CCAA proceedings of Coalspur Mines (Operations) Ltd.

• The court-appointed receiver and foreign representative in the cross-border proceedings of BOS Solutions Ltd., BOS Solutions Inc., BOS LeaseCo LLC, BOS Solutions Real Estate Inc. and BOS USHoldCo Inc. (oil and gas, environmental solutions)

Other

• The revolving credit facility lenders in the multi-jurisdictional restructuring proceedings of Canacol Energy Ltd. and certain affiliates (oil and gas)

• The Insolvency Institute of Canada, as intervener, at both the Supreme Court of Canada and the Court of Appeal of Alberta, in respect of the priority of deemed trusts in the CCAA proceedings of Canada North Group Inc. (oil and gas)

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

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

• Chambers Canada Legal Guide – 2016–2026 (Restructuring/Insolvency)
  

• Chambers Global Legal Guide – 2014–2026 (Restructuring/Insolvency)

• The Best Lawyers in Canada (2015–2022, 2024–2026: Insolvency and Financial Restructuring Law; 2026: Director and Officer Liability Practice)

• The Canadian Legal Lexpert Directory – 2013–2026 (Insolvency & Financial Restructuring)

• The Legal 500 Canada (2026: Leading Partners – Restructuring and Insolvency; 2016–2025: Restructuring and Insolvency)

• Benchmark Canada: The Definitive Guide to Canada's Leading Litigation Firms and Attorneys (2026: Litigation Star: Alberta – Insolvency; 2025: National Litigation Star; 2014–2015, 2017–2020, 2022, 2024: National Litigation Star and Provincial Litigation Star: Alberta)

• Benchmark Canada's Top 100 Women in Litigation – 2023–2025

• IFLR1000: The Guide to the World's Leading Financial and Corporate Law Firms – 2022–2025 (Restructuring and Insolvency)
  

• Lexpert Special Edition: Insolvency and Restructuring 2025

• Lexology Index: Restructuring & Insolvency 2025 (Thought Leader)

• Lexology Index: Canada – 2023–2024 (Restructuring & Insolvency)

• Lexology Index Thought Leaders: Restructuring & Insolvency – 2017–2018 and 2020–2024

In 2006, 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.

Kelly is president of the Insolvency Institute of Canada, Canada's premiere private-sector, invitation-only insolvency organization dedicated to promoting excellence in the field of insolvency.

Kelly is the editor of the Canadian Bankruptcy Reports for Western Canada and has published extensively on various insolvency-related topics, including various submissions to the Annual Review of Insolvency Law, Canada's leading insolvency publication. She is frequently asked to speak at conferences and other industry events across a variety of emerging topics.

Kelly is also a member and past president of the Northwest Chapter of the Turnaround Management Association and a member of the International Insolvency Institute, the Association of Corporate Growth – Calgary Branch, the Law Society of Alberta and the Law Society of Ontario.

• Co-author : Canadian Insolvency: Key Developments and Emerging Trends
  Blakes Bulletin on Restructuring & Insolvency, April 23, 2026.
• Co-author : Alberta Court Affirms Single-Proceeding Model: Royalty Arrears Claims Must Be Pursued First in Insolvency Proceedings
  Blakes Bulletin on Restructuring & Insolvency, February 3, 2026.
• Co-author : Alberta Court Applies Petrowest to Stay Arbitration in Favour of Receivership Proceeding
  Blakes Bulletin on Restructuring & Insolvency, July 10, 2025.
• Co-author : Constructive Trust Claim Dismissed As Court Backs Reverse Vesting Order
  Blakes Bulletin on Restructuring & Insolvency, March 17, 2025.
• Co-author : Canadian Insolvency: Key Developments and Emerging Trends
  Blakes Bulletin on Restructuring & Insolvency, March 13, 2025.
• Co-author : Canadian Insolvency: Case Law, Trends and Shifts in 2023
  Blakes Bulletin on Restructuring & Insolvency, April 17, 2024.
• Co-author : Insolvency Across Borders: Challenges and Opportunities in Canada – U.S. Cases
  Lexpert, January 29, 2024.
• Co-author : Key Developments in Canadian Insolvency Case Law in 2022
  Blakes Bulletin on Restructuring & Insolvency, July 11, 2023.
• Co-author : Prove It or Lose It: Alberta Court Provides Guidance on Evidence Required for Approval of Litigation Trusts and Litigation Financing
  Blakes Bulletin on Restructuring & Insolvency, June 19, 2023.

• Co-speaker : Women Trailblazers in Canadian Restructuring Law
  Blakes Sound Business Podcast, March 4, 2026.
• Co-presenter : Recent Updates on Avoidance Action: Foreign Sovereign Immunity Defence and Exterritoriality of Safe Harbors
  International Insolvency Institute UCC Regional Conference, January 20, 2026.
• Moderator : Restructuring and Insolvency: A Cross-Country Year in Review
  Blakes Business Class Seminar, Toronto, Ontario, January 15, 2026.
• Co-presenter : Forum shopping in insolvency proceedings: should COMI still be the rule?
  IBA Annual Conference, Toronto, Ontario, November 6, 2025.
• Moderator : “Artificial” Insolvencies and the CCAA
  Insolvency Institute of Canada 2025 Annual Conference, Halifax, Nova Scotia, September 20, 2025.
• Co-presenter : Restructuring and Insolvency: A Cross-Country Year in Review
  Blakes Business Class Seminar, Toronto, Ontario, January 21, 2025.
• Moderator : Staying in the Drivers’ Seat (Even After Passing Through Border Patrol)
  Insolvency Institute of Canada 2024 Annual Conference, Scottsdale, Arizona, September 27, 2024.
• Co-presenter : Restructuring and Insolvency: A Cross-Country Year in Review
  Blakes Business Class Seminar, Toronto, Ontario, January 25, 2024.
• Panellist : Insolvency Insider Future Leaders Conference
  Insolvency Insider, Calgary, Alberta, October 4, 2023.
• Panellist : Pension Protection Act – Considerations & Implications
  Benefits and Pensions Monitor Webinar, June 28, 2023.

• Interviewed : Supreme Court’s Redwater ruling reshapes oil and gas insolvency landscape
  Interviewed by Jessica Mach, Lexpert, October 15, 2024.

Admitted to Alberta Bar – 2001
Admitted to Ontario Bar – 2000
LLM, Osgoode Hall Law School – 2007
JD, University of Western Ontario – 1998
BA (Hon.), University of Waterloo – 1995