Instant Brands’ Restructuring Proceedings

Goodmans LLP is counsel for Ernst & Young Inc. (“EY”) in its capacity as court-appointed information officer (the “Information Officer”) in the recognition proceedings of Instant Brands Inc. (“Instant Brands Canada”) under Part IV of the Companies’ Creditors Arrangement Act (the “CCAA”).

Instant Brands Canada is the Canadian operating entity of a group of companies (collectively, the “Company”) with operations in North America, Asia, the United Kingdom and Australia that designs, manufactures and markets a variety of kitchen and household brands, including Instant Pot®, Pyrex®, Corelle®, and Corningware®, among others. The Company employs approximately 2,000 employees throughout North America.

The Company has been negatively impacted over recent years by certain operational and financial challenges, including a heavy debt burden consisting of approximately US$512.3 million of outstanding principal funded debt obligations. On June 12, 2023, Instant Brands Canada and a number of its affiliates (collectively, the “Chapter 11 Debtors”) commenced proceedings (the “Chapter 11 Cases”) under chapter 11 of title 11 of the United States Code with the United States Bankruptcy Court for the Southern District of Texas (the “U.S. Court”). As part of the Chapter 11 Cases, Instant Brands Canada was authorized to act as the foreign representative of the Chapter 11 Debtors, and in such capacity, commenced CCAA recognition proceedings before the Ontario Superior Court of Justice (Commercial List) (the “Ontario Court”). Pursuant to an Order of Justice Osborne of the Ontario Court granted on June 15, 2023, EY was appointed as the Information Officer in the CCAA recognition proceedings.

Clients note, "One of the deepest insolvency practices in the country. They have a strong bench which allows for them to put forward excellent professionals for each mandate." — The Legal 500 Canada
One interviewee reported "I chose to work with them because of their expertise in Canadian restructurings and their practical, hands-on approach," further praising the team as "very knowledgeable, business-minded and commercial." — Chambers Canada
The firm houses a distinguished bench of lawyers who offer deep and broad expertise to both debtors and creditors, as well as notable skill advising on matters arising within regulated industries, including telecoms, energy and resources. — Chambers Global
Clients remark, "Goodmans provides strong advice that is creative yet practical. They have tremendous experience and are commercially savvy." — Chambers Canada
Goodmans represents an impressive range of commercial clients, with notable experience advising bondholders and acting on large international insolvencies. — Chambers Canada
One client noted, "Goodmans practices at the highest level. The team really understands the market and clients' business objectives."
— Chambers Canada
Clients note, "Tremendous quality and depth of talent top to bottom... The best younger partners and senior leaders in the market." — IFLR1000
On the Restructuring Group, interviewees say, “They are the best of the best in insolvency matters. Extremely knowledgeable on all matters, incredibly well prepared and very thorough.” — IFLR1000
One client noted, "The restructuring team at Goodmans is hands down the best in Canada. They are extremely commercial, smart and always demonstrate excellent judgment." — IFLR1000
Clients remark, "Goodmans' greatest asset is the breadth and depth of their team. Other law firms may have one or two top-notch lawyers, but no other law firm matches for overall team strength." — IFLR1000

Practices

Industries

Instant Brands’ Restructuring Proceedings

Site Search

Instant Brands’ Restructuring Proceedings

Expertise

Featured Work