ABCP Restructuring Aftermath: Are You Ready?

Justice Campbell's decision to endorse the restructuring plan in respect of $32 billion of asset backed commercial paper (ABCP) in current CCAA proceedings was recently announced. While the decision is being reviewed by affected parties and appeals are being contemplated, further work will no doubt be necessary to get to the bottom of what is described as one of the most complex financial crises in Canadian history.

Navigant Consulting Canada can assist clients and their counsel as it relates to:

• Internal reviews
• Regulatory investigations
• Commercial litigation

We are uniquely positioned in the Canadian marketplace to respond to the next round in the ABCP crisis. We have led numerous financial investigations in the securities industry involving complex financing and accounting structures including numerous regulatory investigations, class action reviews, damages assessments and other investigations involving financial institutions, brokerages, insurance companies, and investors.

In the US, Navigant Consulting has been at the very forefront of numerous US subprime-related investigations since that crisis erupted in 2007 including:

• Independent investigation of Beazer Homes' (NYSE:BZH) mortgage origination business
• Restructuring and financial advisor on numerous Chapter 11 bankruptcies of mortgage loan companies and warehouse lenders to subprime originators
• Valuation of residual interests in 30 subprime mortgage loan securitizations totaling $6 billion

For more information about Subprime, click here to visit the Virtual Knowledge Center

Contacts:
Alan Stewart, Toronto
Peter Steger, Toronto
Guylaine Leclerc, Quebec City
Paul Levine, Montreal
Steve Whitla, Ottawa