On December 2, 2009, Brainhunter Inc. (TSX:BH) and its principal operating subsidiaries obtained protection under the Companies' Creditors Arrangement Act ("CCAA") while it engaged in a process to either sell its business or restructure its liabilities and operations.

An important element of the CCAA filing was the Debtor in Possession ("DIP") interim financing facility, provided by The Toronto-Dominion Bank to ensure sufficient liquidity for the continued engagement and compensation of contractors and employees.

On February 1, 2010, the Court approved a transaction for the sale of substantially all of the assets of Brainhunter to Zylog Systems Canada Ltd. on a going concern basis.

Fasken Martineau represented TD Bank, the senior secured lender and DIP lender in the Brainhunter CCAA proceedings, with a team that included, among others, Edmond Lamek, Graham Phoenix and Conor O'Neill (restructuring); and Jon Holmstrom and David Johnson (banking).