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Rachel (Bengino) Nicholson

rnicholson@tgf.ca
416.304.1153416.304.1153

Bio

Rachel’s practice focuses on restructuring and insolvency, including the enforcement of creditors’ rights and security, receiverships, BIA and CCAA restructuring proceedings, shareholder disputes and creditor/debtor disputes.  She has experience representing banks, lenders, debtors, receivers, trustees, court-appointed monitors and purchasers.  She currently acts as the Chair of the Turnaround Management Association Toronto Chapter’s Next Gen Committee, and previously served in various roles as a Director with the International Women’s Insolvency and Restructuring Confederation (IWIRC) - Ontario Network.  She also was the recipient of IWIRC’s Semi-Finalist Rising Star Award (2018).  She regularly speaks on panels on a broad range of insolvency topics. Rachel is a co-editor of the TGF Topline, a quarterly publication that keeps readers up to date on restructuring and litigation cases.

Representative Mandates

  • Acts as counsel to FTI Consulting Canada Inc. in its capacity as counsel to Just
    Energy Group Inc. and related companies.
  • Represents Deloitte Restructuring Inc. in its capacity as Court-appointed Receiver of Toolplas Systems Inc.
  • Counsel to JTI-Macdonald Corp., one of the largest tobacco companies in Canada, in its proceedings under the CCAA with a goal to achieve a global resolution of the myriad of litigation claims against it exceeding $500 billion.  The two other largest tobacco companies have also filed for CCAA protection resulting in unprecedented industry-wide proceedings.
  • Counsel to Ernst & Young Inc. in its capacity as Receiver of Mundo Media Ltd. and related companies.
  • Counsel to BDO Canada Limited in its capacity as Receiver of Unique Broadband Systems Ltd. and UBS-Axcera Inc., which such proceedings have been recognized in the United States pursuant to Chapter 15 of the US Code. 
  • Canadian counsel to Charming Charlie Holdings Inc., et. al., which is a US specialty retailer that once operated almost 400 stores worldwide, in its recognition proceedings under the CCAA.
  • Represented FTI Consulting Canada Inc. in its capacity as Court-appointed Monitor (previously, in its capacity as Proposal Trustee), in the insolvency proceedings of Dundee Energy Limited Partnership and Dundee Oil and Gas Limited, which debtors are undertaking a sale of their oil and gas assets.
  • Represented the Plan Sponsor in Takata Corporation, et. al.’s recognition proceedings under the CCAA, which recognized Takata’s restructuring proceedings in the US and Japan. The Plan Sponsor purchased certain assets of Takata for approximately $1.58 billion.
  • Represented Zeifman Partners Inc., in its capacity as Court-appointed Receiver of Kobian Canada Inc.
  • Represents various clients in respect of receivership proceedings, bankruptcy matters, corporate reorganizations and workouts.
  • Represents Ernst & Young Inc. in its role as the court-appointed monitor of Performance Sports Group Ltd. and its subsidiaries, which debtors are undertaking dual plenary cross-border restructurings under both the CCAA and Chapter 11 of the U.S. Bankruptcy Code and successfully sold substantially all of their assets for $575 million.
  • Represented Endurance Energy Ltd. in connection with its proceedings under the CCAA, an Alberta-based oil and gas production company, which successfully sold its assets as part of its restructuring efforts.
  • Part of the TGF team to successfully dismiss a bankruptcy proceeding against
    a high-profile individual in a contested bankruptcy application.
  • Assisted the TGF team representing United States Steel Corporation, the global parent of U. S. Steel Canada in U. S. Steel Canada’s CCAA proceedings.
  • Assisted the TGF team representing Coopers & Lybrand Chartered Accountants in connection with its proceedings under the CCAA.

Representative Mandates

JTI-Macdonald Corp.

TGF acts as counsel to the Applicant in its CCAA proceedings. JTIM’s CCAA proceedings are related to the CCAA filings of both Rothmans, Benso...

Performance Sports Group cross-border restructuring.

TGF represents the court-appointed monitor Ernst & Young in the cross-border restructuring of Performance Sports Group Ltd. and its subsidiaries. Performance Sports Group Ltd. and 17 of its subsidiaries entered into dual plenary cross-border proceedings

Endurance Energy Ltd.: CCAA proceedings for Endurance Energy Ltd

Represents Endurance Energy Ltd. in connection with its proceedings under the CCAA, an Alberta-based oil and gas production company, which successf...

Professional Involvement

Rachel is currently Chair of the TMA NextGen Committee (Toronto Network) for the 2021 year.  

Rachel is a member of:

  • Committee for Toronto’s NextGen Division of the Turnaround Management Association
  • International Women’s Insolvency & Restructuring Confederation (IWIRC)
  • Social Media Committee for Turnaround Management Association (Toronto Chapter)
  • Turnaround Management Association
  • The Advocates’ Society
  • Canadian Bar Association
  • Ontario Bar Association

Education

  • J.D. (Western), 2014
  • B.A. (Hons), (Western), 2011