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Insolvency & Restructuring

Solving issues at the source

Corporate debtors suffering from financial turmoil are looking for realistic solutions to their problems; solutions that will restore both financial stability and stakeholder confidence.  Development of practical options and strategies to address this financial turmoil, however, requires firstly an identification of the root causes.

At Wolrige Mahon we have experienced and qualified personnel that have acted as advocates for either debtor corporations or their secured lenders, bringing our knowledge to bear on the business problems. We assess each situation, identify the key issues and work towards a strategy that will bring the maximum benefit for all stakeholders.  Our associates have a wide variety of industry experience including:  retailing, manufacturing and distribution, hospitality, forestry, automotive dealerships and financial institutions.

Our point of difference:

Wolrige Mahon takes a pro-active role in getting to the heart of a financial problem on a timely basis.  While our desire is to always produce the best possible outcome in every situation, our approach to each is tempered by the uniqueness of each case, being sensitive to a client’s circumstances (debtors and lenders), but nevertheless providing every client our forthright assessment of the situation.

Our initial focus is to quickly gain an understanding of the issues and convey our findings to the client.  Thereafter, we work with the client to develop and recommend alternative strategies deliberately intended to maximize recoveries; and, subsequently, provide assistance with a timely implementation of a restructuring strategy.

How we can help:

Wolrige Mahon offers a wide range of services to secured lenders and corporate debtors.  Our services encompass everything from business advisory roles to owners / managers (in corporate turnaround situations) to asset sale / liquidation in loan recovery proceedings (insolvency) and numerous services in between:  business assessments and security reviews for secured lenders, corporate restructuring without formal insolvency proceedings, corporate reorganization and restructuring within formal insolvency proceedings.

We have undertaken assignments for businesses of varying size and complexity in the British Columbia marketplace including:  companies with asset bases ranging from $100,000 to $60 million; secured lenders with loans ranging from less than $500,000 to in excess of $20 million; companies with sales ranging from less than $1 million to more than $15 million.

Our services  include:

  • Engagements as business advisor / consultant to secured lenders and to corporate debtors;
  • Appointments as Licensed Insolvency Trustee for both bankruptcy administrations and Division I proposals under the Bankruptcy and Insolvency Act;
  • Appointments as Court Appointed Liquidator under the Winding Up Act and the Business Corporations Act;
  • Engagements as Court Appointed Receiver and Receiver-Manager;
  • Engagements as Instrument Appointed Receiver and Receiver-Manager;
  • Appointments as Agent under Section 427 Bank Act security and Assignment of Book Debts;
  • Engagements as Court Appointed Monitor under the Companies’ Creditors Arrangement Act;