Luc Morin

Partner
Norton Rose Fulbright Canada LLP

Luc Morin

Luc Morin

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Biography

Luc Morin is the Canadian Head of Bankruptcy, Financial Restructuring and Insolvency. His practice focuses on bankruptcy, insolvency and corporate restructuring. Over the years, Luc has earned multiple distinctions for the high quality of his professional work.

Luc is also president of the executive committee of the Canadian Bar Association – Insolvency Section, and was invited to join the Insolvency Institute of Canada in 2018, an invitation-only organization dedicated to the promotion of insolvency excellence in Canada regrouping the most senior and experienced insolvency professionals in Canada.


Professional experience

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  • LL. M., Université de Montréal, 2007
  • LL. B., Université de Montréal, 2003
  • Quebec 2003

Mr. Morin has acted, among others, as counsel to the following entities:

  • Nemaska Lithium Inc. (2020): Our office is acting for Investissement Québec (IQ) in the proceedings of Nemaska Lithium Inc. and its affiliates pursuant to the CCAA. IQ acquired the business with a consortium it formed with the Pallinghurst Group. Our team played a key role in setting up an innovative structure (reverse vesting order) to complete the acquisition of the enterprise, which already stands as a precedent for other insolvency transactions carried out elsewhere in Canada. The transaction includes investments of over $600 million.
  • Cirque du Soleil (2020): Our office acted for Investissement Québec (IQ) in the proceedings of Cirque du Soleil and its affiliates (CDS Group) pursuant to the CCAA. IQ offered financial assistance to the CDS Group in the context of its restructuring, presented in the form of a proposal made by a consortium consisting of the key shareholders of the CDS Group, TPG Capital, Fosun International and the Caisse de dépôt et de placement du Québec. The contemplated transaction included a restructuring of the corporation's debt of over $1 billion and the preservation of nearly 5,000 jobs.
  • Stornoway Diamond Corporation (2019): Our office acted for the Stornoway Group in the restructuring proceedings initiated under the CCAA. In the end, the recovery of a debt in excess of $1 billion was carried out with the support of the secured creditors and allowed the Plan Nord's flagship project, Renard Mine, to pursue its activities and protect over 500 jobs.
  • Dynamite/Garage Inc. Group (2020): Our office is acting for Deloitte Restructuring Inc., the court-appointed CCAA monitor, in the CCAA proceedings of the Dynamite/Garage Group and its affiliates. The Dynamite/Garage Group is a major player in the Canadian fashion retail industry that employs nearly 3,000 people and operates more than 300 stores in Canada and in the United States. Restructuring of the over $360 million debt is central to the efforts deployed.
  • Le Château (2020): Our office is acting for Wells Fargo (WF), a senior secured creditor of a debt of nearly $60 million, in the liquidation process initiated by Le Château under the CCAA. Our team set up the bridge financing that WF granted under the circumstances.
  • Spectra Premium (2020): Our team is acting for Ernst & Young Inc., the court-appointed CCAA monitor, in the Spectra Group's CCAA restructuring procedure. Spectra is an after-market automotive parts and tools business with activities in Canada and the United States. This case is proof of our cross-border team's strength, seeing as the restructuring procedures are being carried out in our New York office under Chapter 15 of the Bankruptcy Code, and in our Montréal office for the Canadian portion of the restructuring. This restructuring of a debt of over $250 million is central to the efforts deployed.
  • Lolë/Coalision Inc. (2020): Our team acted for Deloitte Restructuring Inc., trustee in the context of the notice of intention to make a proposal pursuant to the BIA presented by Coalision Inc., also known as Lolë. A transaction providing for the restructuring of a debt of over $50 million allowed the business to carry on its existing business.
  • Modasuite Inc./Frank and Oak (2020): Our office acted on behalf of KPMG Inc., trustee in the context of the notice of intention to make a proposal pursuant to the BIA presented by Modasuite Inc./Frank and Oak.
  • Canadian Solid Waste Inc. Group (2020): Our team acted for PricewaterhouseCoopers Inc., the court-appointed CCAA monitor, in the restructuring procedures of Canadian Solid Waste Inc. and its affiliates pursuant to the CCAA. This restructuring allowed it to pursue its recyclable waste collection services in the Montréal region under a transaction that restructured a debt of close to $20 million.
  • Motovan Group (2019-20): Our team acted for KPMG Inc., the court-appointed CCAA monitor, in the restructuring proceedings of Motovan Inc. pursuant to the CCAA. The restructuring of this nearly $150 million debt allowed the business to carry on its existing business
  • Canadian Legal Lexpert Directory, 2016-2021 recommended in Insolvency & Financial Restructuring (Insolvency Litigation); 2016-2021: recommended in Litigation - Corporate Commercial
  • Lexpert Special Edition, 2019-2021: Canada's Leading Litigation Lawyers
  • Best Lawyers in Canada, 2016-2021: Litigation – Corporate Commercial, Insolvency and Financial Restructuring
  • Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, 2020-2021: most frequently recommended in the area of Insolvency and Financial Restructuring
  • The Legal 500 Canada, 2020-2021: Insolvency & Restructuring (next generation lawyer)
  • International Financial Law Review 1000, Canada, 2021: Financial Restructuring (Rising Star)
  • "In Search of a Purpose: The Rise of Super Monitors & Creditor-Driven CCAAs" (co-author: Arad Mojtahedi), Ann. Rev. Insol. L. 203, 2019.
  • "What did you expect? Equity Claims, Shareholders and the Insolvent Corporation" (co-author: Arad Mojtahedi), Ann. Rev. Insol. L. 155, 2019.
  • "Nothing Personal: The Bloom Lake Decision and the Growing Outreach of Vesting Orders against in personam Rights" (co-author: Nicolas Mancini), Ann. Rev. Insol. L. 905, 2018.
  • "Set-Off and Compensation in Insolvency Restructuring under the BIA/CCAA: After the Kitco and Beyond the Rack Decisions," (co-author: Guillaume-Pierre Michaud), presented at the Annual Review of Insolvency Law conference, Montreal, February 16, 2017.
  • Article on derivative actions and other Paulian recourses (co-author: Guillaume-Pierre Michaud), JurisClasseur Québec, Collection droit des affaires, Droit des sociétés, Fascicule 15, 2009-2017.
  • "Shareholders and Corporate Insolvency," Ottawa Law Review 38.1, 2007.
  • "L'insolvabilité en contexte international et l'attitude des tribunaux canadiens," Ottawa Law Review 38.2, 2008.
  • Canadian Bar Association 
    • President, executive committee – insolvency section for Quebec 
  • Quebec Bar Association
  • American Bar Association
  • Insolvency Institute of Canada
  • American Bankruptcy Institute
  • Turnaround Management Association

 

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