Gowling WLG played a pivotal role as a part of the team representing Structurlam Mass Timber Corporation, the then-leading mass timber manufacturer in North America, and its Canadian and US affiliates, ("Structurlam"), on its Chapter 11 bankruptcy and Companies Creditor Arrangement Act filings and related sale of substantially all its assets to Mercer International for US$83.5 million. This transaction received the award for Materials Deal of the Year at the 18^th Annual Turnaround Awards, presented by The M&A Advisor.

The Gowling WLG team, led by Cyndi Laval and Jonathan Ross, advised Structurlam with regard to its insolvency filings, interim financing arrangements, its marketing and sale process and the sale transaction, which was finalized in 2023.

Other Gowling WLG professionals primarily involved in this transaction included Stephen Kroeger and Manuel Dominguez (restructuring and insolvency); Danny Long (corporate/M&A); Kristen Cruise and Max Brunette (employment); Chris Porter (lending); Stacey Handley and Charlene Joanes (real estate); Michael Bussmann, Brent Kerr and Anita Yuk (tax); Paul Armitage (technology/commercial); Nelson Godfrey (intellectual property); Derek Young (advocacy); Daniel Hayhurst (benefits); Ian MacDonald and Elad Gafni (Investment Canada Act); and Emma Hobbs (environmental).

The Turnaround Awards identify the top firms and largest deals in the distressed investing and restructuring sector. Nominees are distinguished by their industry peers and winners are chosen by an independent jury of experts. A full list of the winners can be found here.

The awards were presented as a part of the 2024 Distressed Investing Summit and Awards Gala held in Palm Beach, Florida, on March 18 - 19, 2024.

Click here to learn more about Gowling WLG's Distressed M&A practice.