In February 2017, HSBC Bank Canada, Freemark Apparel Brands Inc.’s operating lender, assisted and strictly supervised the company’s restructuring process after they filed a notice of intention under the Bankruptcy and Insolvency Act. HSBC continued to finance the company after the filing. During the process, Freemark Apparel Brands Inc. disclaimed underperforming leases and ran a sale and investment solicitation process. Ultimately, the assets of the company were sold via two transactions and the proceeds of the transactions were remitted to HSBC Bank Canada resulting in a full recovery for our client.
A Fasken team lead by Marc-André Morin including Nicolas Mancini advised HSBC Bank Canada in connection with this matter.
A Fasken team lead by Marc-André Morin including Nicolas Mancini advised HSBC Bank Canada in connection with this matter.
