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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Golf Town Acquired by Fairfax and Funds Managed by CI Investments


Areas Banking and Finance Law, Commercial Real Estate, Competition, Antitrust and Foreign Investment, Corporate and Commercial, Corporate Finance and Securities, Corporate Restructuring, Intellectual Property , Private Equity


Goodmans represented Golf Town Canada Inc. and its subsidiaries (collectively Golf Town) in the acquisition of substantially all of its assets by a subsidiary of Fairfax Financial Holdings Ltd. and funds managed by CI Investments Inc. (the Purchaser) in connection with Golf Town’s restructuring proceedings under the Companies’ Creditors Arrangement Act (the CCAA).  The going concern transaction resulted in the continued operation of a substantial majority of Golf Town’s 55 retail locations and preserved Golf Town as Canada’s largest golf retailer.  The Purchaser closed asset-based credit facilities with The Toronto-Dominion Bank contemporaneously with the closing of the transaction on October 31, 2016.

The Golf Town acquisition was a key component of a broader restructuring involving Golf Town’s U.S.-based affiliate, Golfsmith International Holdings, Inc. (together with its subsidiaries “Golfsmith”).  Golfsmith obtained Chapter 11 protection concurrently with Golf Town’s CCAA filing and pursued a dual track strategy to advance restructuring and sale alternatives of its U.S. business.  Golfsmith entered into a support agreement with Fairfax and CI, which together held approximately 40% of the company’s second lien secured notes due 2018, with respect to the recapitalization and restructuring of Golfsmith.  Golfsmith also undertook an auction process in the Chapter 11 proceedings and ultimately entered into a sale transaction pursuant to which a consortium led by Dick’s Sporting Goods acquired substantially all of Golfsmith’s assets.