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About Milly

Milly has extensive expertise in complex and multi-jurisdictional financial restructurings and distressed mergers and acquisitions involving restructuring matters across Canada and abroad.

For more than 25 years, Milly has been a trusted advisor to debtors, purchasers, lender syndicates, secured creditors, monitors, receivers, trustees and other stakeholders in a wide range of industries, including mining, automotive, real estate construction and development, oil and gas, retail, manufacturing, forestry, airline, environmental, telecommunications, media, marketing, financial services, information technology and biomedical.

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Representative cases on the public record include representing:

  • The appliance business purchaser in the cross-border Chapter 11/CCAA recognition proceedings of Instant Brands Group (retail)

  • The purchaser in the cross-border Chapter 11/CCAA recognition proceedings of David’s Bridal (retail)

  • The debtors in the cross-border CCAA/Chapter 11 proceedings and sale of DCL Group (manufacturing)

  • The company in the recapitalization and refinancing transaction of Array Canada, Inc. (merchandising)

  • The lender syndicate in the Companies' Creditors Arrangement Act (Canada) (CCAA) and bankruptcy proceedings of Vari-Form Inc. (automotive)

  • 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, The Bloom Lake Iron Ore Mine Limited Partnership, Wabush Resources Inc., Wabush Iron Co. Limited, Wabush Mines, Arnaud Railway Company and Wabush Lake Railway Company Limited (mining)

  • The lender syndicate in the cross-border CCAA recognition proceedings of the Chapter 11 proceedings of the Hollander Sleep Products Group (manufacturing)

  • The secured lender in the proposal proceedings and bankruptcy of Gymboree Canada (retail)

  • Court-appointed receiver and construction lien trustee of Urbancorp (Leslieville) Developments Inc., Urbancorp (Riverdale) Developments Inc. and Urbancorp (The Beach) Developments Inc. (construction/real estate development)

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

  • The DIP and pre-petition lender syndicate in the cross-border CCAA/Chapter 15 restructuring proceedings of the Sanjel Group (oil and gas)

  • A secured lender in the CCAA proceedings of Plasco Energy Group (now OMNI Conversion) (green energy)

  • The monitor in the CCAA proceedings of Universal Settlements International Inc. (life settlements)

  • The DIP and pre-petition lender syndicate in the multi-jurisdictional proceedings under the CCAA, Chapter 11 (United States) and Business Rescue Proceedings (South Africa) of Great Basin Gold Ltd. (mining)

  • The DIP and pre-petition lender syndicate in the cross-border CCAA/Chapter 15 proceedings of the Cinram Group (manufacturing)

  • The administrative agent for the first-lien lender syndicate and the administrative agent and collateral agent for the second-lien lender syndicate in the Aveos Fleet Performance Inc. CCAA proceedings (aircraft maintenance)

  • The debtor in the cross-border CCAA/Chapter 15 proceedings of Catalyst Paper Corporation (pulp and paper)

  • The debtor in the Sterling Shoes CCAA proceedings (retail)

  • The DIP, exit and pre-petition lender in the cross-border CCAA/Chapter 15 proceedings of Angiotech Pharmaceuticals (pharmaceutical)

  • The purchaser and then debtor in the Athletes World Limited CCAA proceedings (retail)

  • The DIP lender and major business partner in the Air Canada CCAA proceedings (airline)

  • The lender syndicate in the cross-border CCAA/Chapter 11 proceedings of Mosaic Group (marketing)

  • The lender syndicate in the cross-border CCAA/Chapter 11 proceedings of Philip Services Corp. (environmental)

Awards & Recognition

In 2023, Milly received an honorary induction into the TMA Turnaround, Restructuring and Distressed Investing Industry Hall of Fame. In 2022, Milly was recognized by the TMA Toronto chapter for founding the Spring Gala, and for her dedication and commitment to TMA and her contributions to women in restructuring. The gala honours the contributions of women in the Toronto turnaround community and raises funds for local women's charities that demonstrate a strong commitment to turning around women's lives. Since 2011, the gala has raised over C$500,000.

Milly's contribution to restructuring and insolvency law has been recognized by the following leading publications:

  • The Canadian Legal Lexpert Directory – 2016–2024 (Insolvency & Financial Restructuring – Financial Restructuring)

  • Who's Who Legal: Global 2024 (Restructuring & Insolvency)

  • Chambers Global: The World's Leading Lawyers for Business – 2015–2024 (Restructuring/Insolvency)

  • Chambers Canada: Canada's Leading Lawyers for Business – 2015–2024 (Restructuring/Insolvency)

  • The Best Lawyers in Canada – 2013–2024 (Insolvency and Financial Restructuring Law)

  • Who's Who Legal: Canada 2023 (Restructuring & Insolvency)

  • IFLR1000: The Guide to the World's Leading Financial and Corporate Law Firms – 2018–2023 (Restructuring and Insolvency)

  • Euromoney's Women in Business Law Expert Guide 2022 (Restructuring & Insolvency)

  • Lawdragon 500 Leading Global Restructuring & Insolvency Lawyers 2020

  • The Legal 500 Canada – 2016–2017 (Recommended – Restructuring and Insolvency)

  • Legal Media Group's Rising Stars – 2016–2017

Professional Activities

Milly has held several senior leadership positions with the Turnaround Management Association (TMA), including as global chair in 2018 and global president in 2017. Milly was also president of TMA's Toronto chapter from 2012 to 2013. She currently serves on the TMA Global International Task Force. TMA has almost 10,000 turnaround and corporate renewal professionals worldwide. 

In addition, Milly is a director on the board of directors of Insolvency Institute of Canada (IIC), an association of senior insolvency professionals. She currently also serves as co-chair of the Regional Networking & Professional Development Committee and previously served as chair of the Editorial Advisory Committee and as a co-chair of the 2020 IIC Virtual Annual Conference.

Milly was also a member of the Conference Planning Committee for the 2021 Annual Review of Insolvency Law (ARIL), the 2019 ABI Cross-Border Program Advisory Board and the Advisory Council for the 2017 and 2018 M&A Distressed Investing Summit.

Publications
Professional Appearances
  • Moderator : Distressed Real Estate Development Workshop
    Blakes Restructuring & Insolvency Workshop, Toronto, Ontario, May 10, 2024.
  • Panellist : International Women’s Day 2024: Inspiring Women in Turnaround and Restructuring
    Turnaround Management Association (TMA UK and TMA Europe Network of Women (TMA NOW)), Virtual Seminar, March 14, 2024.
  • Panellist : Restructuring and Insolvency: A Cross-Country Year in Review
    Blakes Business Class Seminar, Toronto, Ontario, January 25, 2024.
  • Panellist : Tips for Young Professionals
    Turnaround Management Association, Toronto, Ontario, June 8, 2023.
  • Panellist : Who's in Command? The Single Proceeding Model in Insolvency Proceedings
    20th Annual Review of Insolvency Law Conference, Calgary, Alberta, February 3, 2023.
  • Panellist : Restructuring and Insolvency: A Cross-Country Year in Review
    Blakes Business Class Seminar, Toronto, Ontario, January 17, 2023.
  • Panellist : Debt – The Next Pandemic? Restructuring and Insolvency Implications of Canada’s Debt Burden
    Insolvency Institute of Canada Annual Conference, Kelowna, British Columbia, September 9, 2022.
  • Panellist : Corporate Law Week
    Youth Summer Program at the University of Toronto Faculty of Law, Toronto, Ontario, July 11, 2022.
  • Moderator : Restructuring 2022: National and International Trends
    Fireside chat with Mahesh Uttamchandani, Global Manager for Financial Inclusion & Infrastructure at the World Bank Group, Blakes Business Class Webinar, January 26, 2022.
  • Panellist : Essentials in Insolvency Law on Secured Claims relating to Real Estate Projects and Investments
    Ontario Bar Association Virtual Seminar, January 19, 2022.
Education

Admitted to the Ontario Bar – 1994
LLB, University of Toronto – 1992
BA, University of Toronto – 1988

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