Bankruptcy, Insolvency & Restructuring

Is your business facing financial uncertainty that calls for confident action? For nearly a century, Kugler Wechsler has guided businesses, creditors and stakeholders across Quebec through the most complex bankruptcy, insolvency and restructuring matters, delivering practical solutions when certainty matters most.

When Financial Uncertainty Puts Your Business at Risk

When your business faces mounting debt, creditor pressure or operational uncertainty, the path forward is rarely clear. Whether you are a business owner confronting insolvency, a lender protecting significant exposure or a creditor seeking to recover what you are owed, you need counsel who understands the urgency—and the stakes.

Insolvency and restructuring proceedings under the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA) move quickly and involve competing interests. The decisions made in the earliest stages often determine the outcome: you need an insolvency lawyer with deep experience and the practical judgment to protect your position.

A Legacy of Leadership in Quebec Insolvency Law

Kugler Wechsler has been a trailblazer in bankruptcy, insolvency, and restructuring law in Quebec for close to a century. Our expertise has been passed down through generations of lawyers, keeping our firm among the most highly regarded in this specialized field. We are advocates and trusted business advisors whose focus is understanding your real-time needs and achieving practical, creative solutions.

As a boutique firm with broad insolvency experience, we provide unparalleled, individualized attention—to clients of all sizes—in a cost-effective manner. 

Our lawyers are broadly recognized as leaders in this continuously evolving area of law, and we remain at the forefront through extensive publishing, lecturing, and active membership in organizations including the Canadian Insolvency Institute, the American Bankruptcy Institute, and INSOL International.

Representative Mandates

Our lawyers have acted in major proceedings under the BIA and CCAA, as well as cross-border and foreign insolvency matters. Locally, we have been involved in countless matters of significance. From a cross-border perspective, our mandates include Canadian work connected to the insolvency restructuring of Montreal, Maine & Atlantic Canada Co., Canadian matters relating to the Bernard Madoff cross-border bankruptcy proceedings, and advice connected to the closure of a Spanish retail chain through insolvency proceedings in Spain.

Our Services in Bankruptcy, Insolvency & Restructuring Files: 

  • Representing distressed businesses and insolvent companies in restructurings under the CCAA and BIA.
  • Advising major banks, financial institutions, and secured and unsecured creditors.
  • Acting for trustees, monitors, receivers, and interim receivers.
  • Counseling purchasers of distressed assets, liquidators, and auctioneers.
  • Arranging and advising on debtor-in-possession (DIP) financing and exit financing.
  • Developing and implementing proposals and plans of arrangement.
  • Handling complex insolvency-related litigation.
  • Managing cross-border and foreign insolvency proceedings.

Explore Your Insolvency & Restructuring Recourses

Frequently Asked Questions

These answers provide a general overview of key insolvency and restructuring concepts. 

What is restructuring?

Restructuring is a legal process designed to stabilize and reorganize a financially distressed business so that it can continue operating. 

During a restructuring, the company generally remains in possession of its assets and operations while it develops a plan to address its debts—often through negotiated compromises with creditors, asset sales, or new financing arrangements. 

The goal is to preserve value for all stakeholders and, where possible, allow the business to emerge as a viable going concern.

What is the difference between bankruptcy and restructuring?

Bankruptcy and restructuring are both insolvency processes, but they serve different purposes. Bankruptcy is a formal legal proceeding in which an insolvent person or company surrenders its assets to a licensed insolvency trustee, who administers and distributes those assets to creditors according to statutory priorities. In most cases, bankruptcy results in the wind-down and dissolution of the business.

Restructuring, by contrast, is generally aimed at preserving the business. It provides the debtor with court-supervised breathing room to develop a plan of compromise or arrangement with creditors. If the plan is accepted and approved by the court, the business continues to operate and creditors receive a defined recovery. 

What is the role of an insolvency lawyer vs. a trustee?

An insolvency lawyer and a licensed insolvency trustee (LIT) play complementary but distinct roles. The trustee is a regulated professional appointed to administer formal insolvency proceedings—whether a bankruptcy, a proposal, or a receivership. The trustee’s duties include taking possession of assets, reviewing claims, distributing funds to creditors, and reporting to the court.

An insolvency lawyer provides legal advice, advocacy, and representation to any party involved in the process—whether that is the debtor, a creditor, the trustee, a monitor, or another stakeholder. 

Your lawyer helps you understand your rights, navigate procedural requirements, negotiate with opposing parties, and advance or defend claims in court. While the trustee administers the process, your insolvency lawyer protects your legal interests within it.