Big Deals | 53
Lexpert®Ranked Lawyers
Yorke-Slader, QC,
Blair C.
Bennett Jones LLP
(403) 298-3291
yorkesladerb@
bennettjones.com
Mr. Yorke-Slader is a
leading practitioner in
high-stakes corporate
and commercial
litigation with an active
trial and appellate
business and energy
litigation practice. He
is the only Alberta
fellow of the IATL.
Zalmanowitz,
QC, Barry
Dentons Canada LLP
(780) 423-7344
barry.zalmanowitz@
dentons.com
Mr. Zalmanowitz's
competition
and Investment
Canada Act.practice
includes a focus
on the oil and gas,
restructured electricity,
and oil and gas
service sectors. His
experience embraces
M&A, criminal,
private damage
and reviewable
practices issues.
Zacher, Glenn M.
Stikeman Elliott LLP
(416) 869-5688
gzacher@stikeman.
com
Mr. Zacher practises
commercial/
administrative litigation
and energy regulation.
He represents clients
before courts and
tribunals (OEB,
NEB) in regulatory,
compliance and appeal
proceedings. His
clients include public
agencies and energy
companies.
Zed, QC, Peter T.
Cox & Palmer
(506) 633-4200
ptz@coxandpalmer.
com
Mr. Zed practises in the
areas of administrative
law, utility regulation,
energy and natural
resources, and
commercial litigation.
He is widely
recognized for his
skills as an arbitrator
and as an advocate
in employment and
business matters.
JVLP) acquired a two-thirds ownership interest in Petrogas
Energy Corp. for $880 million.
AIJVLP was represented in Canada by Stikeman Elliott
LLP with a team including Brad Grant, Glenn Cameron,
Chris Nixon, Keith Chatwin, Leland Corbett, Andrew
Beamer, Ben Hudy, Brad Ashkin, Kurtis Reed, Pat Mc-
Nally and Cameron Anderson (corporate and M&A);
Catherine Grygar and Michael Yuzdepski (real estate);
David Weekes (tax), Susan Hutton and Alexandra Stock-
well (competition) and Brandon Mewhort (regulatory);
and in the US by Stoel Rives LLP with a team including
David Quinby and Alexandra Mertens (energy, corporate
and M&A); Christopher Voss (corporate and M&A) and
Joseph Eckhardt (regulatory).
Idemitsu Kosan Co., Ltd. was represented by Jones Day
with a team including Eric Sedlak and John Rudd (corpo-
rate and M&A), and Ken Nunnenkamp and Tommy Ou
(regulatory); and by Heenan Blaikie LLP by Subrata Bhat-
tacharjee (competition).
Petrogas and its controlling shareholder were represent-
ed by Norton Rose Fulbright Canada LLP with a Cal-
gary team led by Robert Engbloom and Craig Hoskins,
and included Darren Hueppelsheuser, Dion Legge and
Brian Milne (tax), Terry Hughes, Alan Harvie and Ru-
juta Patel (regulatory); Chrysten Perry, Ryan Keays and
Thomas Collopy (energy); Tim Mitchell (employment),
David Kolesar (banking), Zahra Allidina, Saptarshi
Chakraborty and Brett Watson (corporate and M&A);
and in the US by Norton Rose Fulbright with a team in-
cluding Larry Franceski, Dan Wellington, Alison Plenge
and Neely Agin and Efren Acosta who advised on regula-
tory and corporate matters.
LONE PINE RESOURCES
COMPLETES RECAPITALIZATION
AND RESTRUCTURING TRANSACTION
Closing date: January 31, 2014
Lone Pine Resources Canada Ltd. and Lone Pine Resources
Inc. (collectively, Lone Pine) completed a $400-million
cross-border recapitalization and restructuring transac-
tion pursuant to a plan of compromise and arrangement
under the Companies' Creditors Arrangement Act (Canada)
(CCAA) and ancillary proceedings under Chapter 15 of
the United States Bankruptcy Code.
The transaction involved the exchange of approximate-
ly $220 million of unsecured notes and other unsecured
claims for 100 per cent of the post-restructuring common
equity of Lone Pine, the issue of US$100 million in new
preferred equity to eligible unsecured creditors, the arrange-
ment of $130 million in new secured credit facilities, and
the repayment of approximately $192 million of secured
debt with proceeds from the preferred equity offering and
drawings under the new credit facilities. The recapitaliza-
tion reduced Lone Pine's debt by over $300 million.
The CCAA and Chapter 15 proceedings were initiated
on Sep. 25, 2013, in accordance with support agreements
entered into between Lone Pine and the holders of approxi-
mately 75 per cent of Lone Pine's then outstanding unse-
cured 10.375 per cent senior notes due 2017. Certain of such
initial consenting noteholders also provided a backstop com-
mitment to subscribe for any portion of the preferred equity
offering that was not taken up by other eligible creditors.
The plan of compromise and arrangement was ap-
proved by affected unsecured creditors of Lone Pine
