On the Case
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O'Connor, QC,
Dennis R.
Borden Ladner
Gervais LLP
(416) 367-6750
DOConnor@blg.com
Sat on the Court of
Appeal for Ontario from
1998 to 2012. Served
as the Associate Chief
Justice of Ontario from
2001 until he retired
at the end of 2012. He
dealt with a wide variety
of issues including
commercial, securities
and insurance law.
O'Reilly, QC,
Thomas J.
Cox & Palmer
(709) 570-5320
toreilly@coxandpalmer.com
Mr. O'Reilly's practice is
focused in the areas of
corporate and commer-
cial litigation, insurance
and personal injury law.
He is widely recognized
for his extensive experi-
ence in these areas.
Orzy, S. Richard
Bennett Jones LLP
(416) 777-5737
orzyr@bennettjones.com
Leader of Restructur-
ing Practice. Acts for
debtors and creditors
in major domestic and
cross-border restructur-
ing and insolvency mat-
ters. His clients include
bondholders, debtors,
landlords, financial insti-
tutions and insurers.
O'Neill, Louis-Martin
Davies Ward Phillips
& Vineberg LLP
(514) 841-6547
lmoneill@dwpv.com
Mr. O'Neill's practice
embraces a broad
spectrum of complex
M&A, securities, corpor-
ate and commercial
disputes, insolvency
restructurings, as well
as white-collar investiga-
tions and defence work.
O'Sullivan, LSM,
Terrence J.
Lax O'Sullivan Scott
Lisus LLP
(416) 598-3556
tosullivan@counsel-toronto.
com
Mr. O'Sullivan's litiga-
tion and arbitration
practices focus on busi-
ness disputes, financial
institution litigation,
regulatory charges and
defence of directors and
officers liability. He acts
as a mediator, arbitrator
and is an ACTL and
IATL Fellow.
Osborne, Peter
Lenczner Slaght Royce
Smith Griffin LLP
(416) 865-3094
posborne@litigate.com
One of Canada's
leading litigators, Mr.
Osborne has a broad
civil litigation and
administrative law
practice encompassing
commercial disputes,
regulated professions,
cross-border insolvency,
class actions and
securities matters.
SECURED CREDITORS CONFRONTING conflicting priorities
in insolvency proceedings can take comfort from the Ontario Court
of Appeal's recent decision in Grant Forest Products Inc. v. e Toronto-
Dominion Bank.
Most importantly, the court confirmed that a supervising judge in a
Companies' Creditors Arrangement Act proceeding can permit a creditor
to bankrupt the debtor company even where the transition to bankrupt-
cy proceedings results in the loss of the deemed trust available to pension-
ers under the CCAA.
"Secured creditors who wish to alter priorities in their favour can rest
Ruling in Grant Forest allows secured creditors faced with
wind-up obligations to force bankruptcy
By Julius Melnitzer
BANKRUPTCY
DESPITE
PENSION DEBT
