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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.

Recapitalization of Calfrac Well Services Ltd. and its affiliates

2020

Areas Banking and Finance Law, Corporate Restructuring

Summary

Goodmans represented the Ad Hoc Committee in connection with the successful recapitalization of Calfrac Well Services Ltd. and its affiliates (collectively, “Calfrac”) completed pursuant to a corporate plan of arrangement under the Canada Business Corporations Act (the “CBCA”).

The Ad Hoc Committee, together with Calfrac’s other unsecured noteholders, agreed to participate in and backstop a $60 million secured note financing completed in connection with the recapitalization (the “Notes Offering”). Goodmans, on behalf of the Ad Hoc Committee, was extensively involved in negotiating, structuring and implementing the transaction including the Notes Offering.  Goodmans also played a central role in litigation before the Court of Queen’s Bench of Alberta (the “Court”) and the Court of Appeal of Alberta that resulted in approval of the plan of arrangement despite strenuous opposition.