Marble, columns and stairs
Apr 21, 2023

SLP Holdings Ltd. (“SLP”), Structurlam Mass Timber Corporation, Structurlam Mass Timber U.S., Inc. and Natural Outcomes, LLC (collectively “Structurlam”) commenced proceedings by filing voluntary petitions for relief pursuant to Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

The U.S. Bankruptcy Court appointed SLP as the foreign representative of Structurlam. On April 27, 2023, the Supreme Court of British Columbia granted orders recognizing the Chapter 11 Proceedings as a foreign proceeding under Part IV of the CCAA.

McMillan provided independent and strategic counsel to the Board of Directors of Structurlam Mass Timber Corporation on a range of critical legal matters including relating to the company’s consolidated total liabilities of approximately $111 million.

The team included leading experts Tushara Weerasooriya and Adam Maerov. The proceedings resulted in a highly successful auction that generated exceptionally strong result for the creditors.

McMillan’s Restructuring & Insolvency Group is one of Canada’s leading business insolvency groups. Our highly skilled team includes top-ranked lawyers known for their expertise and creative problem-solving, allowing McMillan to deliver the highest standards of transactional and structuring leadership, and commercial advocacy. We have advised on the restructuring, purchase and sale of businesses in a variety of industries. We regularly work with financially challenged companies, boards of directors, Canadian and US financial institutions, lending syndicates, bondholders, investors, ad hoc and official creditors’ committees, court-appointed officers and major customers and suppliers of insolvent companies. We provide our clients with successful outcomes and comprehensive solutions to the most challenging problems.