 | Joe Pasquariello quoted in "The show will go on: Inside the year that nearly killed Cirque du Soleil and its plan to return to the stage", Globe and Mail's ROB Magazine |
May-25-2021
| Lawyer | Joseph Pasquariello |
Details
Excerpt from "The show will go on: Inside the year that nearly killed Cirque du Soleil and its plan to return to the stage", Globe and Mail's Report on Business (ROB) Magazine
When the asset shuffle eventually came to light, it put Cirque and its existing ownership group on a collision course with debtholders. “To the extent they were taking security away from the lending group and the lending group doesn’t have the ability to call on that security anymore, that reduces your pool of collateral, whether or not the company is insolvent,” says Joe Pasquariello, a partner and head of the corporate restructuring group at Goodmans, which represented a committee of secured creditors.
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