Adam Maerov Photo
Adam Maerov Photo
Adam Maerov Photo

Adam Maerov is recognized as a highly skilled restructuring and insolvency lawyer who has advised on numerous high-profile oil and gas and mining restructuring proceedings. An accomplished advocate, he assists banks, financial institutions, asset-based lenders, hedge funds, borrowers, directors and officers, customers, unsecured creditors and suppliers in a range of industries, including the oil and gas, automotive and agricultural sectors.

Active in all aspects of insolvency law, Adam directs workouts, reorganizations under the Companies’ Creditors Arrangement Act, bankruptcies, receiverships, liquidations and security enforcement. He regularly advises court appointed receivers, trustees in bankruptcy, monitors and purchasers of distressed assets.

Adam was co-chair of a task force that developed a model asset purchase agreement for the Business Bankruptcy Committee of the American Bar Association and is a member of the Insolvency Institute of Canada.



Representative Matters

  • Counsel for Niko Resources Limited in connection with the out of court restructuring of senior and second lien debt
  • Counsel for Atikwa Resources in connection with its restructuring efforts
  • Counsel for Wells Fargo as Agent under credit facility to Big Eagle Energy Services
  • Counsel for court appointed receiver of Magnum Energy
  • Counsel for plan sponsor in relation to Shoreline Energy Corp. CCAA proceedings
  • Counsel for Canadian Association of Insolvency and Restructuring Professionals as intervener in Redwater appeal to Alberta Court of Appeal
  • Counsel for proposal trustee of Leader Energy Services
  • Counsel for proposal trustee of Casa Energy Services
  •  Counsel to Supreme Group Inc., pre-filing lender and DIP lender to FairWest Energy Corporation
  • Counsel to secured creditor to a leading chain of hardware and building centers
  • Counsel to senior secured lender to a number of Canadian technology and life sciences debtors in connection with receivership proceedings and restructurings
  • Counsel to Great Basin Gold in connection with its reorganization proceedings under the Companies’ Creditors Arrangement Act
  • Counsel to JPMorgan Chase Bank N.A., Agent for the DIP Lenders to Catalyst Paper Corporation
  • Counsel to Crystallex International Corporation in connection with its restructuring proceedings under the Companies’ Creditors Arrangement Act
  • Counsel to The Bank of Nova Scotia, the Administrative Agent for separate lending syndicates to the Canwest publishing and media groups
  • Counsel to A&M Cookie Company in connection with its successful reorganization under the Companies’ Creditors Arrangement Act
  •  Counsel to Royal Bank of Canada, the Administrative Agent for the lending syndicate to Quebecor World Inc.
  • Counsel to Pliant Corporation in relation to its cross-border restructuring under the Companies’ Creditors Arrangement Act and Chapter 11 of the Bankruptcy Code
  • Canadian counsel to the Unsecured Creditors Committee in connection with the reorganization of Spiegel Corporation

Speaking Engagements

Understanding The Impact: Bankruptcy, Insolvency And Managing Tenants, Calgary Real Estate Strategy & Leasing Conference, Calgary, Alberta

May 25, 2017

Start Your Day with…Fraud? Transfers Under Value, Creditor Proofing and the Ethics of Asset Protection, Panel Chair, Canadian Bar Association Pan-Canadian Insolvency and Restructuring Law Conference, Winnipeg, Manitoba

September 2015

A "Supreme" year – The Supreme Court of Canada landmark decisions with regards to Indalex and AbitibiBowater, Panel Chair, Canadian Bar Association Pan-Canadian Insolvency and Restructuring Law Conference, Calgary

September 2013

Canadian and American Financing Transactions and Insolvency Proceedings - Key Differences, McMillan Corporate Seminar, San Francisco, California

January 2013

News


Rankings & Recognition

  • Recognized in the 2024 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring
  • Recognized by Chambers Global (2024) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Chambers Canada (2024) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2024) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Listed in Who’s Who Legal: Canada 2023 as a leader in Restructuring & Insolvency
  • Listed in Who’s Who Legal: Canada 2022 as a leader in Restructuring & Insolvency
  • Recognized by Chambers Canada (2023) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2023) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Recognized by IFLR1000 Financial and Corporate Guide 2022 as a Notable Practitioner in the area of Restructuring & Insolvency
  • Recognized by Chambers Canada (2022) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by Best Lawyers in Canada (2022) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Listed in Who’s Who Legal: Canada 2021 as a leader in Restructuring & Insolvency
  • Recognized in the 2021 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Insolvency & Financial Restructuring: Financial Restructuring
  • Recognized by the Best Lawyers in Canada (2021) as a leading lawyer in the area of Insolvency and Financial Restructuring Law
  • Recognized by Chambers Canada (2021) as a leading lawyer in the area of Restructuring / Insolvency
  • Recognized by IFLR1000 Financial and Corporate Guide 2020 as a Notable Practitioner in Restructuring & Insolvency
  • Recognized by Chambers Canada (2020) as a leading lawyer in the area of Restructuring / Insolvency Law
  • Recognized by the 2019 Lexpert Guide to the US/Canada Cross-Border Lawyers in Canada as a leading Canadian lawyer in cross-border practices
  • Recipient of the 2018 Kathryn R. Heidt Memorial Award, Business Law Section of the American Bar Association
  • Recognized by IFLR1000 Financial and Corporate Guide 2019 as a Notable Practitioner in Restructuring & Insolvency
  • Ranked by Lexpert Guide (2018) as a leading US/Canada Cross-Border Lawyer in Canada
  • Ranked by Chambers Canada 2016, 2017,  2018, and 2019 in the area of Restructuring/Insolvency
  • IFLR 1000 Financial and Corporate Guide notable practitioner in Financial and Corporate: “Thorough and committed to our needs.”
  • Ranked by Chambers Global: The World’s Leading Lawyers for Business 2015 in the area of Restructuring/Insolvency
  • Ranked by Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada 2014 as a Corporate Lawyer to Watch in the area of Corporate Restructuring
  • Ranked by Chambers Global: The World’s Leading Lawyers for Business 2011 & 2012 – “Up and Coming”

Community Involvement

  • Adam serves as a member of the Board of Directors of Calgary Jewish Federation

Directorships & Affiliations

  • Canadian Bar Association
  • American Bar Association
  • Turnaround Management Association

Education & Admissions

2013
Called to the Alberta bar
2003
Called to the Ontario bar
2002
JD University of Toronto
1996
B.CommUniversity of Alberta

Publications

  • “Pre-Packs under the Companies’ Creditors Arrangement Act: Has the Push for Efficiency Undermined Fairness”, Annual Review of Insolvency Law (February 2017)
  • Small Producers Bear the Brunt of LLR Program Changes,” CAPL Negotiator (November 2015)
  • Round table: Bankruptcy & Restructuring 2014,” Corporate LiveWire (October 2014)
  • Assigning Contracts in Canadian Insolvency Proceedings,” Commercial Insolvency Reporter Reproduced with permission of the publisher LexisNexis Canada Inc. from Commercial Insolvency Reporter, Vol. 26, No. 6 (August 29. 2014)
  • Increased Security: The LLR Program and Bulletin 2013-09,” Published in the CAPL Negotiator (January 2014)
  • Recognition of U.S. Plan Confirmation Order Under the CCAA,” Corporate Restructuring Bulletin (November 2010)
  • Canadian Business Restructuring Law: When Should a Court say ‘No’?,” The Banking & Finance Law Review (Fall 2008)
  • Eligible Financial Contracts vs. Insolvency: Round II,” Annual Review of Insolvency Law – 2007 (January 2008)
  • “Identifying Eligible Financial Contracts: More Than a Financial Purpose,” Restructuring and Derivatives Bulletin (July 2006)
  • “Canada Q&A – Restructuring & Insolvency,” PLC Cross-border Restructuring and Insolvency Handbook, 2006-07 (June 2006)
  • “BC Court Expands Rights of Unpaid Suppliers,” Restructuring Bulletin (February 2006)
  • “Flawed Canadian Insolvency Law Reform Enacted?”, Restructuring Bulletin (November 2005)
  • “Mums Unlimited Incorporated and 3-D Greenhouses Inc. (“3-D Greenhouses”) London 04-CL-5609 (Ontario A.C.J.), unreported endorsement,” Insolvency News Vol. 20, No. 2 (February 2005)
  • “Ontario Court of Appeal Reverses Decision of Superior Court and Accepts Crown Super-Priority for GST Claims in CCAA Proceedings,” Corporate Finance Bulletin (January 2005)
  • “Ontario Court of Appeal Accepts Crown Super-Priority for GST Claims in CCAA Proceedings,” Restructuring Bulletin (January 2005)
  • “Court of Appeal Affirms Immediate Effectiveness of Real Property Vesting Orders,” Restructuring Bulletin (January 2005)
  • “Who is in Control? A Commentary on Canadian DIP Lending Practices,” Presentation, Annual Insolvency and Restructuring Forum, the Canadian Association of Insolvency and Restructuring Professionals (May 2004)
  • “Case Comment: Distinctions Without a Policy: The Inconsistent Treatment of GST Obligations of Insolvent Companies,” Canadian Tax Journal (2004) Vol. 52 No. 1 (April 2004)
  • “Commercial Insolvency Law Reform: Recommendations by the Standing Committee for Amendment to the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act,” Presentation, the OBA Institute (January 2004)
  • “Senate Committee Recommends Bold Insolvency Law Reforms,” Restructuring Bulletin (November 2003)
  • “Private Equity in Canada”, Private Equity Bulletin (October 2003)
  • “Case Comment: Back to Bake Sales: Defining the scope of ‘related businesses’ conducted by charitable organizations and foundations,” Canadian Tax Journal (2003) Vol. 51 No. 4 (September 2003)

Insights (17 Posts)View More

Featured Insight

Environmental Obligations Trump Lenders: The Trend Continues

Re Mantle Materials Group, Ltd continues a recent trend in Alberta in which environmental remediation obligations are found to have a super priority.

Read More
Nov 8, 2023
Featured Insight

Environmental Priorities in Insolvency Proceedings and the Impact on Lenders: Alberta Court Broadens Redwater Principles

Alberta case Qualex v 12-10 Capital develops line of cases at the intersection of environmental protection and bankruptcy and insolvency law in Canada.

Read More
May 24, 2023
Featured Insight

Asking Lenders for Time to Deal with COVID-19 Problems

Guide for borrowers to discussing loan defaults and additional credit support with lenders.

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Mar 31, 2020
Featured Insight

Supreme Court of Canada Grants Leave to Appeal in “Canada North” CCAA Priming Charges vs. Payroll Deductions Case

Canada North, CCAA, payroll deductions, deemed trust, priority, Companies' Creditors Arrangement Act, Supreme
Court of Canada

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Mar 27, 2020
Featured Insight

Coronavirus: Harbinger of a New (Old) Approach to Restructuring in Canada?

Restructuring options and challenges in the time of COVID-19.

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Mar 20, 2020
Featured Insight

Supreme Court of Canada Denies Leave to Appeal in “Virginia Hills” Linear Property Tax Case: Northern Sunrise County, et al. v. Bank of Nova Scotia, et al., 2019 SCC 38587

The Supreme Court has confirmed that the Alberta Municipal Government Act does not grant a municipality a special lien for unpaid linear property taxes.

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Sep 4, 2019
Featured Insight

Supreme Court of Canada Allows Redwater Appeal: Regulator entitled to super-priority for abandonment and reclamation costs

Supreme Court of Canada Allows Redwater Appeal: Regulator entitled to super-priority for abandonment and reclamation costs

Read More
Jan 31, 2019
Featured Insight

Redwater Energy – Take 3

Redwater Energy - Take 3

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Nov 9, 2017
Featured Insight

Appeal Dismissed: Decision of the Alberta Court of Appeal in Re Redwater Confirms Paramountcy of BIA

Appeal Dismissed: Decision of the Alberta Court of Appeal in Re Redwater Confirms Paramountcy of BIA

Read More
Apr 25, 2017
Featured Insight

Redwater Appeal Creates Continued Uncertainty for Insolvent Oil and Gas Companies in Alberta

Redwater Appeal Creates Continued Uncertainty for Insolvent Oil and Gas Companies in Alberta

Read More
Jun 4, 2016
Featured Insight

Update: Barafield Realty Ltd. v. Just Energy (B.C.) Limited Partnership

Update: Barafield Realty Ltd. v. Just Energy (B.C.) Limited Partnership

Read More
Jun 2, 2016
Featured Insight

New Rules for Asset Sales by Insolvent Producers (at least for now)

New Rules for Asset Sales by Insolvent Producers (at least for now)

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May 24, 2016
Featured Insight

Compromise with the Alberta Energy Regulator: Navigating a Receivership in Alberta’s Oil Patch

Compromise with the Alberta Energy Regulator: Navigating a Receivership in Alberta's Oil Patch

Read More
Jan 28, 2016
Featured Insight

Small Producers Bear the Brunt of LLR Program Changes

On March 12, 2013, the AER released Bulletin 2013-09 announcing significant changes to he Licensee Liability Rating (LLR) Program.

Read More
Nov 4, 2015
Featured Insight

Assigning Contracts in Canadian Insolvency Proceedings

Assigning Contracts in Canadian Insolvency Proceedings

Read More
Jul 18, 2014
Featured Insight

Purchasers of Canadian Businesses: Beware of Successor Employer Laws

Purchasers of Canadian Businesses: Beware of Successor Employer Laws

Read More
Jan 21, 2014
Featured Insight

Clarifying COMI: Locating a Debtor’s Centre of Main Interests

Clarifying COMI: Locating a Debtor's Centre of Main Interests

Read More
Nov 13, 2012

Deals & Cases (5 Posts)

Featured Insight

Receivership Proceedings of Genesis Integration Inc.

McMillan acted as counsel to the proposed Receiver, KSV Restructuring Inc., in connection with the proceedings with a team led by Adam Maerov and comprised of Kourtney Rylands and Preet Saini.

Read More
Sep 15, 2022
Featured Insight

Restructuring of Greenfire Oil and Gas

McMillan acted for Alvarez & Marsal Canada Inc. in its capacities as Trustee in Bankruptcy and Receiver of Greenfire Oil and Gas Ltd. and Greenfire Hangingstone Operating  Corporation.

Read More
Apr 6, 2021
Featured Insight

Restructuring of the Northern Silica Group of Companies under the Companies’ Creditors Arrangement Act

McMillan acted as debtors’ counsel for Northern Silica Corporation, Heemskirk Mining Pty. Ltd., Heemskirk Canada Holdings Limited, Heemskirk Canada Limited, Custom Bulk Services Inc. and HCA Mountain Minerals Limited, in connection with their restructuring proceedings under the Companies’ Creditors Arrangement Act.

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Nov 23, 2020
Featured Insight

CCAA Proceedings of Pure Global Cannabis Inc.

McMillan LLP acted for MMCAP International Inc. SPC, the holder of 50% of $10 million of secured debentures issued by Pure Global Cannabis Inc.

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Mar 1, 2020
Featured Insight

Big Lots Acquires Liquidation World

Big Lots Acquires Liquidation World

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Jul 18, 2011