Michael Wunder* is a partner in the Banking & Specialty Finance and Restructuring & Insolvency Groups at Cassels. Michael has extensive experience in both areas having practised for over 29 years, and he has been ranked as a leading lawyer by several major ranking publications including Lexpert and Best Lawyers. Michael’s practice encompasses (i) domestic and cross-border corporate and commercial lending transactions acting for single lenders, syndicates and borrower groups and (ii) domestic and cross-border commercial restructurings and the enforcement of secured and unsecured creditors’ rights. Michael advises Canadian and foreign financial institutions, hedge funds and other non-traditional lenders, and regularly acts as Canadian counsel with foreign law firms, in secured and unsecured financings and intercreditor arrangements. He has acted on a significant number of cross-border multi-currency transactions including cash flow and asset-based lending transactions and acquisition financings.
A trusted advisor to his clients, Michael provides strategic counsel on structuring and documenting complex financing transactions and is a Canadian practice leader in domestic and cross-border special situation loans, distressed debt loans, and debtor in possession financings.
Michael regularly acts as counsel in domestic and cross-border restructuring and insolvency transactions for secured and unsecured creditors, corporate debtors, lender groups, DIP lenders, creditor committees, institutional investors, and noteholder groups.
Michael’s experience includes acting for:
- The Agent and lenders in connection with a US$300 million secured syndicated credit facility to Sears Canada Inc., and a subsequent CCAA debtor in possession financing
- Evraz North America, a wholly owned subsidiary of EVRAZ plc which is one of the largest vertically integrated steel and mining businesses in the world, in connection with a North American cross-border credit facility provided to the Cdn. and U.S. EVRAZ entities by a lending syndicate for which JPMorgan Chase Bank, N.A. acted as the administrative agent
- The Agent (CoOperatieve Rabobank U.A.) and lenders in connection with a secured syndicated credit facility to Champ’s Mushrooms and South Mill Mushrooms, a leading North American supplier of mushrooms
- Tenor Capital Management as DIP lender to Crystallex International Corporation in its CCAA/Chapter 15 proceedings
- An Informal Group of Senior Secured Noteholders and Plan Sponsors of CHC Group Ltd. in connection with its cross-border restructuring proceedings and exit financing from its worldwide restructuring
- The Official Committee of Unsecured Creditors of Nortel Networks Inc. and certain of its direct and indirect subsidiaries in the cross-border CCAA/Chapter 11 proceedings
- The Official Committee of Unsecured Creditors of Performance Sports Group Ltd. (Bauer/Eastons) in connection with its cross-border restructuring proceedings
- Connacher Oil and Gas Limited in connection with its CCAA debtor in possession loan, and exit loan facility completed September 2019
*denotes Professional Corporation