Huff , Pamela L.J.
Blake, Cassels
& Graydon LLP
(416) 863-2958
pamela.huff @blakes.com
Ms. Huff 's insolvency prac-
tice engages the domestic
and cross-border litigation
and commercial aspects of
work-outs, reorganizations,
receiverships and other
security enforcement. Her
clients include debtors, lend-
ers, receivers and trustees.
Jack, QC, Sandra E.
Felesky Flynn LLP
(403) 260-3308
sjack@felesky.com
Ms. Jack's tax practice
emphasizes corporate
planning, particularly inter-
national. She is presently an
executive member of the
International Fiscal Associa-
tion (Canadian branch).
Jewett, Peter E.S.
Torys LLP
(416) 865-7364
pjewett@torys.com
Mr. Jewett chairs Torys's cor-
porate and capital markets
department. Expertise in na-
tional and international cor-
porate fi nance and M&A.
Acts on privatizations of
major federal and provincial
enterprises and many of
Canada's largest M&A deals.
Huot, Jean Marc
Stikeman Elliott LLP
(514) 397-3276
jmhuot@stikeman.com
Partner in the Corporate
Commercial Group. Fo-
cuses on securities, M&A
and governance. Acts
for issuers, underwriters,
public corporations, invest-
ment funds, purchasers
and sellers. Experienced
in international tender
off ers and privatizations.
Jenkins, William K.
Dentons Canada LLP
(403) 268-6835
bill.jenkins@dentons.com
Mr. Jenkins's transactional
practice focuses on M&A;
equity, debt, project and
other corporate fi nancings;
and joint ventures. His clients
include corporations, invest-
ment dealers and banks.
He presents frequently on
corporate fi nance topics.
Johnson, Elizabeth J.
Wilson & Partners LLP
(416) 869-2414
elizabeth.j.johnson@
ca.pwc.com
Managing partner of PwC
Canada's affi liated tax law
fi rm. Ms. Johnson focuses on
M&A transactions, corpor-
ate reorganizations and
cross-border structuring.
She has written extensively
on partnership taxation and
anti- avoidance rules.
thinks that, with time, the pricing will be
even better while the other side, the dis-
tressed company, feels that this is the bot-
tom and they don't want to transact at such
a huge discount. ! ey think they'll be get-
ting skinned."
In the meantime, junior and mid-sized
oil and gas companies can look to the coun-
try's junior miners, who have signifi cant ex-
perience at scaling back burn rates to a faint
fl icker in hard times.
Chambers warns many of them are not
out of the woods yet, especially the single-
product, single-mine plays.
"A lot of them are just putting the com-
pany on ice and hoping they can survive
and pay their listing fees until things pick
up. You spend no money on the project and
lay everybody off . At the junior end of the
market, that's just endemic. Most of them
are just running on fumes."
Debt markets have little interest in ju-
nior resource companies in general, he says,
making cash on hand about the only num-
ber that counts.
"! e juniors never had any cash fl ow
so why would anyone lend them money?
! ey've got no money to service their debt.
! ey're restricted to equity because their
business model doesn't involve the genera-
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