Quebec City advises Ernst & Young in the restructuring of CO2 Solutions Inc.

Canada | September 02, 2020

Client: Ernst & Young

Our Quebec City office advised Ernst & Young as trustee, in CO2 Solutions Inc.’s restructuring efforts under the Bankruptcy and Insolvency Act (Canada).

We were retained to advise Ernst & Young on the validity and enforceability of security given by CO2 Solutions Inc. to its lenders, to advise the trustee with the sale of two assets and we were successful in reaching a settlement with the Quebec Revenue Agency to collect research and development credits owed to CO2 Solutions Inc. 

This matter was significant as we were able to come to an agreement with the Quebec Revenue Agency to collect its research and development credits without the need to offset any tax owed through the Company’s debt. Our bench strength, not only in bankruptcy and restructuring, but also in related practice areas such as tax, real estate, banking and finance and litigation across Canada gives us the ability to handle complex matters of this magnitude.

CO2 Solutions Inc. is a leading technology provider in the capture and purification of CO2 from industrial production.

The team included Christian Roy, Olivier Boileau, Chantal Morillon and Louis Roy.