Lexpert Magazine

October 2017

Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.

Issue link: http://digital.carswellmedia.com/i/875051

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Page 19 of 71

20 LEXPERT MAGAZINE | OCTOBER 2017 BIG DEALS DEALS ANALYSIS 16 16 Total Deals Published 3 Corporate Finance 21 15 Mergers & Acquisitions 21 8 Cross-border Transactions 21 BIG DEALS TRANSACTION VITALS ANNOUNCED: 6/9/2017 CLOSED: 6/30/2017 DEAL TYPE: RESTRUCTURING, BANKRUPTCY ACQUISITION JAMES GAGE MCCARTHY TÉTRAULT LLP (FOR STELCO, RESTRUCTURING/CORPORATE) PAUL SIMON FORMERLY OF BORDEN LADNER GERVAIS LLP (FOR BEDROCK INDUSTRIES) GALE RUBENSTEIN GOODMANS LLP (FOR THE SUPERINTENDENT OF FINANCIAL SERVICES AND THE PROVINCE OF ONTARIO) ROBERT THORNTON THORNTON GROUT FINNIGAN LLP (FOR U.S. STEEL CANADA, RESTRUCTURING) On June 30, 2017, Stelco Inc. (Stelco), formerly U.S. Steel Canada Inc., emerged from Companies' Creditors Arrangements Act (CCAA) proceedings through the implementation of a CCAA plan. is in- volved the compromise of more than $2 billion of debt and the re- structuring of approximately $2 billion of pension and benefit obliga- tions. e CCAA plan also included new regulations by the Ontario government, new financing, new collective agreements with its three union locals, the creation of a "Landco" that will monetize significant land holdings around Hamilton harbour and elsewhere for the ben- efit of retirees, important arrangements with the Ministry of the En- vironment to address environmental matters, and the acquisition of Stelco from United States Steel Corporation (USS) by its new owner, Bedrock Industries, LP (Bedrock). Stelco is a steel company based in Hamilton, Ont., and is a signifi- cant economic player for the City of Hamilton and the Canadian steel industry. McCarthy Tétrault LLP represented Stelco throughout the pro- ceedings as restructuring and corporate counsel with a team led by James Gage that included Barbara Boake, Heather Meredith, Sha- ron Kour and Trevor Courtis (bankruptcy & restructuring), Robert Hansen, Richard Higa, Jake Irwin, Justin Lapedus, Heidi Gordon, Ryan Hornby, Paul Kunynetz, Suraj Rammohan, Nicole Rumble, Shauvik Shah and Christopher Zawadzki (business), Hovsep Afar- ian, Sarit Batner, Julie Parla, William Scott, Paul Steep, Junior Sirivar, Paul Davis, Jordan Katz and Atrisha Lewis (litigation), Oliver Borg- ers and Michele Siu (competition), Tzen-Yi Goh, Diego Beltran and Isabel Henkelman (real property and planning), Gabrielle Richards and Amanda Laren (tax), Ryan Prescott, Barry Sookman and Keith Rose (technology) and Joanna Rosengarten (environmental). Stelco was represented in-house by John Kain and Mark Hemingway. Hicks Morley Hamilton Stewart Storie LLP acted as labour and pension counsel to Stelco with a team that included Stephen Shamie, Elizabeth Brown, Terra Klinck and Lisa Mills. Weil, Gotshal & Manges LLP acted as US counsel to Stelco with a team that included Robert Lemons, Arkady Goldinstein, Vincent Yiu and Matthew Skrzynski. WeirFoulds LLP acted as counsel to the directors of Stelco with a team that included Marie-Andrée Vermette and Bryan Finlay. Bennett Jones LLP acted as counsel to the Monitor, Ernst & Young, with a team that included Kevin Zych, Raj Sahni, Robert Staley and Danish Afroz. Borden Ladner Gervais LLP acted as M&A counsel to Bedrock with a team that included Paul Simon (now GC of Stelco), Andrew Harrison, Subrata Bhattacharjee, Gregory McLean, Ian Li, Daniel Lang, Pamela Cross, Sonia Mak, James Fu; Brian Mulroney, Brennan Carroll, Bruce Fowler, Evelyn Goldfarb, Shane Pearlman, Victoria Everett, Evita Ferreira, Gabrielle Kramer, Laura Costen, Jake Hogan, Rick Coburn, Andrew McLean and Eric Boehm. Goldman Sloan Nash & Haber LLP acted as restructuring coun- COMPILED BY GENA SMITH Pipelines Materials Utilities Financials Health Research Media & Entertainment Recreation & Leisure Advertising & Marketing STELCO INC. EMERGES FROM CCAA PROCEEDINGS

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