https://mcmillan.ca/wp-content/uploads/2020/05/profile-default-mobile.jpg

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, Adams 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.

As Office Management Partner, Adam provides leadership to the firm’s Calgary office.



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 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 by Adam C. Maerov (15 Posts)

Asking Lenders for Time to Deal with COVID-19 Problems

Mar 31, 2020

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

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

Mar 27, 2020

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

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

Mar 20, 2020

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

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

Sep 4, 2019

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

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

Jan 31, 2019

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

Redwater Energy – Take 3

Nov 9, 2017

Redwater Energy - Take 3

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

Apr 25, 2017

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

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

Jun 4, 2016

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

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

Jun 2, 2016

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

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

May 24, 2016

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

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

Jan 28, 2016

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

Small Producers Bear the Brunt of LLR Program Changes

Nov 4, 2015

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

Assigning Contracts in Canadian Insolvency Proceedings

Jul 18, 2014

Assigning Contracts in Canadian Insolvency Proceedings

Purchasers of Canadian Businesses: Beware of Successor Employer Laws

Jan 21, 2014

Purchasers of Canadian Businesses: Beware of Successor Employer Laws

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

Nov 13, 2012

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