Jay A. Swartz

Senior Counsel

Jay A. Swartz

Jay A. Swartz

Senior Counsel

Clients rely on Jay’s experience and legal and business judgment to provide strategic and tactical advice that creatively addresses their business issues. Jay is a “standout practitioner” who is regarded as “one of the top insolvency practitioners in the country.”
Client – Chambers Global 2016

Jay has a diverse commercial practice, with particular emphasis on corporate restructuring, private company acquisitions, banking and debt financing, financial product development, structured finance and private equity funds. He regularly provides guidance on corporate governance matters.

Known for getting the deal done in an efficient, timely and effective manner, Jay is valued by clients for his unparalleled judgment. He is creative in finding practical and novel solutions to business and legal problems.

Jay received the 2014 Osgoode Hall Law School Alumni Gold Key award for his outstanding professional achievements.

Jay A. Swartz

Senior Counsel

Clients rely on Jay’s experience and legal and business judgment to provide strategic and tactical advice that creatively addresses their business issues. Jay is a “standout practitioner” who is regarded as “one of the top insolvency practitioners in the country.”
Client – Chambers Global 2016

Jay has a diverse commercial practice, with particular emphasis on corporate restructuring, private company acquisitions, banking and debt financing, financial product development, structured finance and private equity funds. He regularly provides guidance on corporate governance matters.

Known for getting the deal done in an efficient, timely and effective manner, Jay is valued by clients for his unparalleled judgment. He is creative in finding practical and novel solutions to business and legal problems.

Jay received the 2014 Osgoode Hall Law School Alumni Gold Key award for his outstanding professional achievements.

FTI Consulting Canada Inc.

Acting for FTI Consulting Canada Inc. in its capacity as court-appointed monitor of Imperial Tobacco Canada Limited and its affiliated corporation, Imperial Tobacco Company Limited, in proceedings under the Companies' Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy Code.

Alvarez & Marsal

Acted for Alvarez & Marsal in its role as Monitor of Ben Moss Jewellers Western Canada, Ltd. in connection with proceedings under the Companies' Creditors Arrangement Act.

Target Corporation

Acted for Target Corporation in connection with winding down of Target Canada Corporation under the Companies' Creditors Arrangement Act.

Danier Leather Inc.

Acted for Danier Leather Inc. in its proposal, receivership and bankruptcy proceedings all under the Bankruptcy and Insolvency Act, which saw all of Danier's creditors being paid in full, leaving a considerable surplus for shareholders.

United Steelworkers Union

Acted as co-counsel on behalf of the United Steelworkers Union in connection with the restructuring of Stelco Inc. under the Companies' Creditors Arrangement Act and the establishment of Legacy Lands L.P.

Hale Capital Partners

Acted for Hale Capital Partners in connection with a debtor in possession loan to RB Energy Inc. in a Companies' Creditors Arrangement Act proceeding.

Ascribe Capital

Acting for Ascribe Capital in connection with Sanjel Corporation's Companies' Creditors Agreement Act proceedings.

Goldman Sachs

Acting for Goldman Sachs in connection with Tervita Corporation's, a leading environmental solutions provider, Chapter 15 proceedings and the plan of arrangement under the Canada Business Corporations Act.

Quality Engineered Homes

Acted for Quality Engineered Homes in connection with a secured loan from Liquid Capital.

KSV Kofman Inc.

Acting for KSV Kofman Inc. in its roles as Monitor of the Urbancorp Group of Companies in connection with proceedings under the Companies' Creditors Arrangement Act and as Information Officer for Urbancorp Inc.

Delta Air Lines, Inc. (Delta)

Acted as Canadian counsel to Delta Air Lines, Inc. (Delta) in its purchase from Bombardier of 75 CS100 aircraft with options for an additional 50 CS100 aircraft. Based on the list price, the firm order is valued at approximately $5.6 billion. Deliveries of the state-of-the-art aircraft to Delta are scheduled to begin in 2018.

Ernst & Young Inc.

Acted for Ernst & Young Inc., as Monitor, in connection with proceedings under the Companies' Creditors Arrangement Act relating to entities affiliated with Coopers & Lybrand Chartered Accountants.

KSV Kofman Inc.

Acted for KSV Kofman Inc. in connection with the purchase of all of the shares of Duff & Phelps Canada Restructuring Inc.

Noteholders of Armtec Infrastructure Inc.

Acted on behalf of a committee of noteholders in connection with proceedings affecting Armtec Infrastructure Inc. and its subsidiaries under the Companies' Creditors Arrangement Act.

Secured noteholders

Acted for the secured noteholders in connection with proceedings under the Companies' Creditors Arrangement Act relating to Cline Mining Corp. and its subsidiaries.

Beretta Farms Inc.

Acted for Beretta Farms Inc. in connection with its acquisition of assets of Prairie Heritage Producers Inc.

One Earth Farms Limited

Acted for One Earth Farms Corp in its acquisition of Canadian Premium Meats Limited.

Mobilicity

Acting for the principal shareholder of Mobilicity in connection with proceedings under the Companies' Creditors Arrangement Act.

Crystallex International Corporation

Acting as counsel for the debtor in Crystallex International Corporation's proceedings under the Companies' Creditors Arrangement Act.

ARXX Building Products Inc.

Acted for ARXX Building Products Inc., the debtor in receivership proceedings under the Bankruptcy and Insolvency Act and related proceedings under Chapter 15.

Elleway Acquisitions Corp.

Acted for Elleway Acquisitions Corp. in connection with the purchase of outstanding secured indebtedness of Travelzest plc from Barclays plc and the related acquisition by subsidiaries of Aldenham Canada Acquisition Corp. of the assets of Itravel 2000, The Cruise Professionals Limited and Travelcash from Grant Thornton Limited, the receiver of the corporations owning such businesses and its subsequent proposal under the Bankruptcy and Insolvency Act.

Cathmark Investments Inc.

Acted for a group of investors led by Cathmark Investments Inc. in the acquisition of Bull Wealth Management Group Inc. and Bull Capital Management Inc., a registered portfolio manager, exempt market dealer and investment fund manager, from a subsidiary of EFG International AG.

Noteholders

Acted for a group of noteholders of the approximately $10-billion Master Asset Vehicle II (MAV II), in approving and implementing amendments to the structure of MAV II to provide for periodic optional redemptions of certain notes of MAV II and concurrent proportional unwinds and liquidations of MAV II's liabilities and assets.

MMFX Technologies Corporation

Acted for MMFX Technologies Corporation in the Companies' Creditors Arrangement Act proceedings of its Canadian subsidiaries and the sale of Canadian assets to its secured lender.

Postmedia Network Inc.

Acted for Postmedia Network Inc. in the acquisition of the publishing business of Canwest LP under a sale proceeding conducted pursuant to the Companies' Creditors Arrangement Act. The assets included the largest publisher of English-language newspapers in Canada as well as an extensive portfolio of digital media and online assets. The aggregate enterprise value of the assets was estimated to be $1.1 billion. Also acted throughout the CCAA proceedings for an Ad Hoc Committee of Noteholders, comprised of 18 investment funds, which held the majority of Canwest LP's outstanding indebtedness and which provided a $250-million equity commitment to permit the acquisition.

Brainhunter Inc.

Acted for Brainhunter Inc. and its subsidiaries in an acquisition by Zylog Systems (Canada) Ltd. and Zylog Systems (India) Limited pursuant to the Companies' Creditors Arrangement Act.

Redcorp Ventures Ltd.

Acting for a committee of bondholders of Redcorp Ventures in conjunction with Canadian Companies' Creditors Arrangement Act and receivership proceedings.

Ernst & Young Inc.

Acting for Ernst & Young Inc., a Court-appointed Monitor, in connection with the restructuring of Quebecor World Inc. and 53 of its subsidiaries in excess of US$2.8 billion of liabilities and emerged from protection under the Companies' Creditors Arrangement Act and Chapter 11 of the U.S. Bankruptcy Code pursuant to Plans of Reorganization approved by creditors and courts in both countries.

Fellow of the Insolvency Institute of Canada

Fellow of the American College of Commercial Finance Lawyers

Ontario Bar Association—Murray Klein Award for Excellence in Insolvency Law (2017)

Osgoode Hall Law School—Alumni Gold Key Award (2014)

The Best Lawyers in Canada Lawyer of the Year (2017)—Insolvency and Financial Restructuring Law

Chambers Global: The World’s Leading Lawyers for Business—Restructuring/Insolvency (Band 1)

Chambers Canada: Canada’s Leading Lawyers for Business—Restructuring/Insolvency (Band 1)

IFLR1000: The Guide to the World’s Leading Financial Law Firms—Restructuring and Insolvency

The Legal 500 Canada—Restructuring and Insolvency (Leading Lawyer)

The Best Lawyers in Canada Lawyer of the Year (2015)—Banking and Finance Law

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Corporate Commercial Law; Insolvency and Financial Restructuring

Lexpert/Thomson’s Guide to Canada’s 100 Most Creative Lawyers

Report on Business/Lexpert Special Edition Canada’s Leading Corporate Lawyers

Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada—Banking and Financial Institutions; Corporate Finance and Securities; Insolvency and Financial Restructuring; Mergers and Acquisitions

The Canadian Legal Lexpert Directory—Corporate Commercial Law (Most Frequently Recommended); Insolvency and Financial Restructuring: Financial Restructuring (Most Frequently Recommended); Asset Equipment Finance/Leasing; Banking and Financial Institutions; Corporate Finance and Securities; Corporate Mid-Market; Infrastructure Law; Mergers and Acquisitions; Project Finance; Private Equity

The Best Lawyers in Canada—Banking and Finance Law; Corporate Law; Derivatives Law; Equipment Finance Law; Insolvency and Financial Restructuring Law; Leveraged Buyouts and Private Equity Law; Mergers and Acquisitions Law; Project Finance Law; Securities Law

Who’s Who Legal: Canada—Banking; Capital Markets; Restructuring and Insolvency; Who’s Who Legal: Banking—Finance; Who’s Who Legal: Capital Markets—Debt and Equity; Who’s Who Legal: Restructuring and Insolvency

Expert Guides—Banking; Restructuring and Insolvency; Structured Finance and Securitisation

Bar Admissions

Ontario, 1975

Education

Osgoode Hall Law School, LLB, 1973
York University, BA (Economics) (with Distinction), 1970

Professional Affiliations

American College of Commercial Finance Lawyers, Fellow
Canadian Bar Association
Insolvency Institute of Canada, Fellow
International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL International)
Turnaround Management Association

Board Memberships

Industrial and Commercial Bank of China (Canada)
Pizza Pizza Royalty Corp., chair
Graywood GTA Condominium Fund
Acasta Enterprises Inc., former director
Anthes Industries Inc., former director
Insolvency Institute of Canada, former president and former director
Institute of Corporate Directors, former director
Mount Sinai Hospital, former director
Oshawa Public Utilities Corporation and OPUC Networks Inc., former director
Pine River Institute, former vice-chair and former director
Sleep Country Canada Income Fund, former director

Teaching Engagements

Jay has been an instructor in the Advanced Business Law Workshop for a selected group of third-year law students at Osgoode Hall Law School. He has been a guest lecturer at Osgoode Hall Law School, Western Law and the Schulich School of Business at York University.

Clients rely on Jay’s experience and legal and business judgment to provide strategic and tactical advice that creatively addresses their business issues. Jay is a “standout practitioner” who is regarded as “one of the top insolvency practitioners in the country.”
Client – Chambers Global 2016

Jay has a diverse commercial practice, with particular emphasis on corporate restructuring, private company acquisitions, banking and debt financing, financial product development, structured finance and private equity funds. He regularly provides guidance on corporate governance matters.

Known for getting the deal done in an efficient, timely and effective manner, Jay is valued by clients for his unparalleled judgment. He is creative in finding practical and novel solutions to business and legal problems.

Jay received the 2014 Osgoode Hall Law School Alumni Gold Key award for his outstanding professional achievements.

FTI Consulting Canada Inc.

Acting for FTI Consulting Canada Inc. in its capacity as court-appointed monitor of Imperial Tobacco Canada Limited and its affiliated corporation, Imperial Tobacco Company Limited, in proceedings under the Companies' Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy Code.

Alvarez & Marsal

Acted for Alvarez & Marsal in its role as Monitor of Ben Moss Jewellers Western Canada, Ltd. in connection with proceedings under the Companies' Creditors Arrangement Act.

Target Corporation

Acted for Target Corporation in connection with winding down of Target Canada Corporation under the Companies' Creditors Arrangement Act.

Danier Leather Inc.

Acted for Danier Leather Inc. in its proposal, receivership and bankruptcy proceedings all under the Bankruptcy and Insolvency Act, which saw all of Danier's creditors being paid in full, leaving a considerable surplus for shareholders.

United Steelworkers Union

Acted as co-counsel on behalf of the United Steelworkers Union in connection with the restructuring of Stelco Inc. under the Companies' Creditors Arrangement Act and the establishment of Legacy Lands L.P.

Hale Capital Partners

Acted for Hale Capital Partners in connection with a debtor in possession loan to RB Energy Inc. in a Companies' Creditors Arrangement Act proceeding.

Ascribe Capital

Acting for Ascribe Capital in connection with Sanjel Corporation's Companies' Creditors Agreement Act proceedings.

Goldman Sachs

Acting for Goldman Sachs in connection with Tervita Corporation's, a leading environmental solutions provider, Chapter 15 proceedings and the plan of arrangement under the Canada Business Corporations Act.

Quality Engineered Homes

Acted for Quality Engineered Homes in connection with a secured loan from Liquid Capital.

KSV Kofman Inc.

Acting for KSV Kofman Inc. in its roles as Monitor of the Urbancorp Group of Companies in connection with proceedings under the Companies' Creditors Arrangement Act and as Information Officer for Urbancorp Inc.

Delta Air Lines, Inc. (Delta)

Acted as Canadian counsel to Delta Air Lines, Inc. (Delta) in its purchase from Bombardier of 75 CS100 aircraft with options for an additional 50 CS100 aircraft. Based on the list price, the firm order is valued at approximately $5.6 billion. Deliveries of the state-of-the-art aircraft to Delta are scheduled to begin in 2018.

Ernst & Young Inc.

Acted for Ernst & Young Inc., as Monitor, in connection with proceedings under the Companies' Creditors Arrangement Act relating to entities affiliated with Coopers & Lybrand Chartered Accountants.

KSV Kofman Inc.

Acted for KSV Kofman Inc. in connection with the purchase of all of the shares of Duff & Phelps Canada Restructuring Inc.

Noteholders of Armtec Infrastructure Inc.

Acted on behalf of a committee of noteholders in connection with proceedings affecting Armtec Infrastructure Inc. and its subsidiaries under the Companies' Creditors Arrangement Act.

Secured noteholders

Acted for the secured noteholders in connection with proceedings under the Companies' Creditors Arrangement Act relating to Cline Mining Corp. and its subsidiaries.

Beretta Farms Inc.

Acted for Beretta Farms Inc. in connection with its acquisition of assets of Prairie Heritage Producers Inc.

One Earth Farms Limited

Acted for One Earth Farms Corp in its acquisition of Canadian Premium Meats Limited.

Mobilicity

Acting for the principal shareholder of Mobilicity in connection with proceedings under the Companies' Creditors Arrangement Act.

Crystallex International Corporation

Acting as counsel for the debtor in Crystallex International Corporation's proceedings under the Companies' Creditors Arrangement Act.

ARXX Building Products Inc.

Acted for ARXX Building Products Inc., the debtor in receivership proceedings under the Bankruptcy and Insolvency Act and related proceedings under Chapter 15.

Elleway Acquisitions Corp.

Acted for Elleway Acquisitions Corp. in connection with the purchase of outstanding secured indebtedness of Travelzest plc from Barclays plc and the related acquisition by subsidiaries of Aldenham Canada Acquisition Corp. of the assets of Itravel 2000, The Cruise Professionals Limited and Travelcash from Grant Thornton Limited, the receiver of the corporations owning such businesses and its subsequent proposal under the Bankruptcy and Insolvency Act.

Cathmark Investments Inc.

Acted for a group of investors led by Cathmark Investments Inc. in the acquisition of Bull Wealth Management Group Inc. and Bull Capital Management Inc., a registered portfolio manager, exempt market dealer and investment fund manager, from a subsidiary of EFG International AG.

Noteholders

Acted for a group of noteholders of the approximately $10-billion Master Asset Vehicle II (MAV II), in approving and implementing amendments to the structure of MAV II to provide for periodic optional redemptions of certain notes of MAV II and concurrent proportional unwinds and liquidations of MAV II's liabilities and assets.

MMFX Technologies Corporation

Acted for MMFX Technologies Corporation in the Companies' Creditors Arrangement Act proceedings of its Canadian subsidiaries and the sale of Canadian assets to its secured lender.

Postmedia Network Inc.

Acted for Postmedia Network Inc. in the acquisition of the publishing business of Canwest LP under a sale proceeding conducted pursuant to the Companies' Creditors Arrangement Act. The assets included the largest publisher of English-language newspapers in Canada as well as an extensive portfolio of digital media and online assets. The aggregate enterprise value of the assets was estimated to be $1.1 billion. Also acted throughout the CCAA proceedings for an Ad Hoc Committee of Noteholders, comprised of 18 investment funds, which held the majority of Canwest LP's outstanding indebtedness and which provided a $250-million equity commitment to permit the acquisition.

Brainhunter Inc.

Acted for Brainhunter Inc. and its subsidiaries in an acquisition by Zylog Systems (Canada) Ltd. and Zylog Systems (India) Limited pursuant to the Companies' Creditors Arrangement Act.

Redcorp Ventures Ltd.

Acting for a committee of bondholders of Redcorp Ventures in conjunction with Canadian Companies' Creditors Arrangement Act and receivership proceedings.

Ernst & Young Inc.

Acting for Ernst & Young Inc., a Court-appointed Monitor, in connection with the restructuring of Quebecor World Inc. and 53 of its subsidiaries in excess of US$2.8 billion of liabilities and emerged from protection under the Companies' Creditors Arrangement Act and Chapter 11 of the U.S. Bankruptcy Code pursuant to Plans of Reorganization approved by creditors and courts in both countries.

Fellow of the Insolvency Institute of Canada

Fellow of the American College of Commercial Finance Lawyers

Ontario Bar Association—Murray Klein Award for Excellence in Insolvency Law (2017)

Osgoode Hall Law School—Alumni Gold Key Award (2014)

The Best Lawyers in Canada Lawyer of the Year (2017)—Insolvency and Financial Restructuring Law

Chambers Global: The World’s Leading Lawyers for Business—Restructuring/Insolvency (Band 1)

Chambers Canada: Canada’s Leading Lawyers for Business—Restructuring/Insolvency (Band 1)

IFLR1000: The Guide to the World’s Leading Financial Law Firms—Restructuring and Insolvency

The Legal 500 Canada—Restructuring and Insolvency (Leading Lawyer)

The Best Lawyers in Canada Lawyer of the Year (2015)—Banking and Finance Law

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Corporate Commercial Law; Insolvency and Financial Restructuring

Lexpert/Thomson’s Guide to Canada’s 100 Most Creative Lawyers

Report on Business/Lexpert Special Edition Canada’s Leading Corporate Lawyers

Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada—Banking and Financial Institutions; Corporate Finance and Securities; Insolvency and Financial Restructuring; Mergers and Acquisitions

The Canadian Legal Lexpert Directory—Corporate Commercial Law (Most Frequently Recommended); Insolvency and Financial Restructuring: Financial Restructuring (Most Frequently Recommended); Asset Equipment Finance/Leasing; Banking and Financial Institutions; Corporate Finance and Securities; Corporate Mid-Market; Infrastructure Law; Mergers and Acquisitions; Project Finance; Private Equity

The Best Lawyers in Canada—Banking and Finance Law; Corporate Law; Derivatives Law; Equipment Finance Law; Insolvency and Financial Restructuring Law; Leveraged Buyouts and Private Equity Law; Mergers and Acquisitions Law; Project Finance Law; Securities Law

Who’s Who Legal: Canada—Banking; Capital Markets; Restructuring and Insolvency; Who’s Who Legal: Banking—Finance; Who’s Who Legal: Capital Markets—Debt and Equity; Who’s Who Legal: Restructuring and Insolvency

Expert Guides—Banking; Restructuring and Insolvency; Structured Finance and Securitisation

Bar Admissions

Ontario, 1975

Education

Osgoode Hall Law School, LLB, 1973
York University, BA (Economics) (with Distinction), 1970

Professional Affiliations

American College of Commercial Finance Lawyers, Fellow
Canadian Bar Association
Insolvency Institute of Canada, Fellow
International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL International)
Turnaround Management Association

Board Memberships

Industrial and Commercial Bank of China (Canada)
Pizza Pizza Royalty Corp., chair
Graywood GTA Condominium Fund
Acasta Enterprises Inc., former director
Anthes Industries Inc., former director
Insolvency Institute of Canada, former president and former director
Institute of Corporate Directors, former director
Mount Sinai Hospital, former director
Oshawa Public Utilities Corporation and OPUC Networks Inc., former director
Pine River Institute, former vice-chair and former director
Sleep Country Canada Income Fund, former director

Teaching Engagements

Jay has been an instructor in the Advanced Business Law Workshop for a selected group of third-year law students at Osgoode Hall Law School. He has been a guest lecturer at Osgoode Hall Law School, Western Law and the Schulich School of Business at York University.