Filing for bankruptcy is a major decision and may not be your only option if you are having financial difficulties. Our team advises you on the different implications of filing bankruptcy so that you can make an informed decision on whether it is the right solution for you.
Over the past two decades, BOYNECLARKE LLP Insolvency lawyers have acted on behalf of creditors in many of the major insolvencies that have occurred in Nova Scotia. Located in Halifax – Dartmouth, our lawyers have extensive experience representing secured creditors. We act on behalf of some of the leading financial institutions in the province including banks, mortgage lenders, credit unions, and other financial institutions. In these representations, our efforts are focused on the realization of indebtedness, recoveries, and workouts.
The fact that we are a large firm with a number of diverse practice areas offers our clients a distinct advantage. Whenever an issue arises requiring specific knowledge, we consult with lawyers experienced in other practice areas, notably the Litigation, Financial Services, Tax, Employment, and Regulatory teams. This multi-disciplinary approach allows us to seamlessly solve challenges and provide integrated solutions to meet the client’s needs.
BOYNECLARKE LLP Insolvency lawyers work in close collaboration with the firm’s commercial litigators to pursue and defend cases at the various levels of court up to the Nova Scotia Court of Appeals. Working collaboratively, we pursue and collect monies due on contracts by way of court action, mechanic’s liens, and executions.
Our Insolvency lawyers also act on behalf of a diverse group of clients such as debtor companies, either assisting them in defending themselves or overseeing activities of creditors in realization. We assist them in reorganizing their debt, including developing proposals under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act.
In addition, we have extensive experience in dealing with other insolvency practitioners including trustees in bankruptcy and receivers.
Insolvencies and restructurings involve tight deadlines and a complex range of legal and business issues, for which we work effectively and efficiently negotiating solutions that benefit the client.
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Areas of Focus
It is a common occurrence for a business to be faced with the situation of having delinquent accounts on its record book. Debt collection can be a difficult and unpleasant process. Our team combines knowledge, experience and strategy acting on behalf of creditors for the efficient recovery of outstanding debts.
In many cases a formal process may not be necessary. We can guide our clients through the making of an informal proposal, or through a self liquidation process, and assist our clients in ensuring that they avoid any actions that may create issues such as fraudulent preferences, fraudulent conveyances, or sales for undervalue.
We have acted on behalf of creditors in many of the major insolvencies that have occurred in Nova Scotia. Our Team has extensive experience representing secured creditors. We act on behalf of some of the leading financial institutions in the province including banks, mortgage lenders, credit unions, and other financial institutions. In these representations, our efforts are focused on the realization of indebtedness, recoveries, and workouts.
A receivership allows secured creditors to recover monies outstanding in the event a business defaults on payment. A Receiver whether privately or court appointed needs to be carefully monitored to ensure they have the ability to protect the business and creditors. These matters are often unique and require legal advice.
Reorganizations & Proposals Under the Bankruptcy & Insolvency Act and Companies' Creditors Arrangement Act
Our insolvency counsel have extensive experience in acting for distressed debtors, trustees, and both secured and unsecured creditors. Our team can give guidance on all aspects of restructuring including the carrying on of business during reorganization, the roles of the trustee and monitor, the critical supplier rules, the obtaining of Debtor-in-Possession financing, the liquidation of assets, the claims process, and creditor approval of the ultimate plan. As well as advice on the process, we attend at all court appearances to protect and advance our clients’ interests.
With our practical and creative approach to complex restructuring challenges, we work to provide innovative solutions for businesses of all sizes. We act on behalf of creditors and debtors in restructuring transactions. Restructurings involve tight deadlines and a complex range of legal and business issues, for which we work effectively and efficiently negotiating solutions that benefit the client.