VANCOUVER, B.C., Jan. 13, 2025 — Amid mounting economic pressures, including changing interest rates, persistent inflation and significant corporate debt maturing in 2025, Vancouver's business community faces rising restructuring and insolvency challenges.
In Nov. 2024, the Office of the Superintendent of Bankruptcy released statistics on the volume of Bankruptcy and Insolvency Act (BIA) insolvencies filed in Q3 2024, showcasing that year-over-year, total BIA business insolvencies in British Columbia have increased by 26.1% to 290 bankruptcies and proposals (offers to creditors to settle debts under conditions other than the existing terms). The province’s real estate sector (including rental, leasing and construction), in particular, saw a 43% rise in insolvencies in Q2 2024 compared to Q2 2023, as highlighted in a recent BIV article. This upward trend of business insolvencies underscores the importance of early intervention, on-the-ground legal advice and strategic decision-making to address market challenges.
Dentons’ Vancouver Restructuring, Insolvency and Bankruptcy group is the largest in British Columbia and excels at navigating complex local, national and multi-jurisdictional matters. As their clients’ needs grow in the wake of increased business insolvencies in the construction, manufacturing, real estate, finance and insurance, trade, transportation and retail sectors, the group is also expanding, adding material strength and experience. Anchored by partners Jordan Schultz, John Sandrelli, Valerie Cross and associate, Eamonn Watson, the team recently welcomed counsel Sherryl Dubo and associates Catherine Ewasiuk and Casandra Federico. This expansion brings new perspectives and valuable expertise that further strengthens the team’s capabilities in providing the highest level of service to clients across industries and borders.
Highly regarded across Canada, Dentons’ Restructuring, Insolvency and Bankruptcy group is recognized for its practical and innovative solutions, from complex reorganization and refinancing transactions, to the use of reverse vesting orders to deliver substantial financial benefits. Dentons’ cross-border expertise ensures seamless coordination in international insolvency proceedings, offering clients cohesive strategies across jurisdictions. As more businesses face tough decisions, their team crafts solutions to align with clients’ unique circumstances, from support with formal proceedings under the BIA or CCAA, to advising on various out-of-court restructuring alternatives which offer flexibility and protect reputations.
No matter one’s role within a business – whether as a leader, shareholder, lender, creditor, financial advisor or insolvency professional, Dentons provides innovative legal solutions grounded in deep industry expertise to guide businesses through Canada's complex insolvency landscape, with a thorough understanding of key legislation, including the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA).
No matter the challenge, Dentons’ Restructuring, Insolvency and Bankruptcy group combines creative problem-solving with practical advice, focusing on the client’s business priorities to achieve the best outcomes. More than legal advisors, they are problem-solvers, backed by a presence in Canada’s key economic centers and global expertise across 80 countries.
As we move into 2025, businesses facing financial challenges and operating in Vancouver, across British Columbia and beyond, can count on Dentons’ Restructuring, Insolvency and Bankruptcy group team to achieve stability, recovery and long-term success.
FOR IMMEDIATE RELEASE
For more information, please contact:
Magatte Diop
Manager, Communications & Profile
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