Derek has experience advising corporate clients and their stakeholders in both informal and formal restructurings. His most recent experience consists of a director role, internal to a lending institution, assisting the organization in restructuring their complex distressed accounts in Western Canada.
Derek has advised on and executed in the following situations:
- senior secured facility restructuring and workouts
- syndicated credit facility restructuring and workouts
- distressed lending and refinancing
- distressed going concern sale
- informal restructuring and turnaround advisory
- lender advisory
- Companies Credit Arrangement Act (CCAA) proceedings
- Division 1 Proposals under the Bankruptcy and Insolvency Act (BIA)
- court-appointed and private-appointment receiverships
- corporate bankruptcies
His experience is across a wide range of industries. With a focus on Alberta and Western Canada, his deepest expertise is in the energy & resources sector—specifically oil and gas. Other industry experience includes, real estate (commercial, industrial, multi-family and hospitality), mining and resource extraction, logistics and transportation, manufacturing and automotive.
Select client experience
- structured and provided equipment financing to facilitate restructuring the capital structure of a distressed oilfield service firm whose existing lender wanted to exit
- acted for a lender on numerous workouts of large syndicated credit facilities advanced to oil and gas producers, and oilfield service firms
- advised lender in exit of a syndicated credit facility advanced to an oil and gas producer that later went insolvent and ceased operations, preventing any loss of principal
- lender on workout of a senior secured facility to an oil and gas drilling contractor
- lender in CCAA proceedings that progressed to a Receivership of junior oil and gas producer
- court-appointed receivership of residential condo development
- previously an officer in the Canadian Armed Forces Reserves.