Martin C. Sennott*

Martin is a Shareholder and practices in the areas of insolvency, realization, and commercial litigation.  In addition to his litigation practice, Martin also practices in real estate, and corporate/commercial transactions. Martin delivers prompt and practical advice to his clients in these areas, drawing on more than 25 years of legal experience.

In Martin’s insolvency practice, Martin works with companies in distress and advises on turnaround matters and workout solutions.  Having acted as counsel to the company in a number of CCAA matters and numerous Div 1 Proposal matters under the BIA, Martin has developed an expertise in developing and executing on strategies to achieve optimal results in challenging circumstances.  Martin also provides advice to various financial institutions on realization matters involving commercial entities such as hotels, golf courses, real estate development projects and others.

Whether in connection to an insolvency, or as a direct commercial transaction, Martin often represents clients in real estate matters, share purchase transactions, and asset purchase transactions. These transactions include straight forward matters to complex and challenging situations, which Martin brings his deep breadth of experience to ultimately smooth completions.  Martin also represents several financial institutions on banking and lending matters, primarily on commercial loans. He acts on all types of lending transactions, with a specific focus on unusual or difficult transactions including D.I.P. (Debtor in Possession) loans, acquisitions requiring court orders (bankruptcy, foreclosure etc.), and financing of property under distress.

Professional Activities

• Author, Chapter 13 – BC Creditor’s Remedies
• Author, CLE BC paper entitled “Priorities: Before and After Bankruptcy”
• Member, Mortgage and Investment Associations of B.C. (MIABC)
• Participant, Turnaround Management Association activities (TMA)
• Participant, Vancouver Insolvency Discussion Group

Speaking Engagements

Speaker, Western Forum of Credit and Financial Executives – topic “Guarantees, Indemnities and Covenants”

Speaker, CLE Bankruptcy & Insolvency 2009, “Recent Changes to the Bankruptcy and Insolvency Act”

Representative Work

Martin has a number of ongoing files with his clientele, however the following are samples of files Martin recently has completed:

• Counsel to Credit Union on Commercial Foreclosure on operating hotel
• Counsel to Credit Union on Commercial Foreclosure on restaurant and bar operations
• Counsel for Debtor in CCAA matter – financial industry
• Counsel for Debtor in CCAA matter – pharmaceutical industry
• Counsel for Debtor in CCAA matter – agricultural industry
• Counsel for Debtor in Div 1 Proposal matter – automotive industry
• Counsel for Debtor in Div 1 Proposal matter – technology industry
• Counsel to a Debtor in Possession Lender in CCAA action, involving significant priority dispute
• Advising financial institution on Fraud Detection and Recovery
• Counsel to a financial institution on receivership and sale of an operating wood remanufacturing company (with labour dispute component)
• Counsel to financial institution on foreclosure and receivership of strata titled apartment building in Vancouver (with reconstruction component)
• Counsel to financial institution in receivership, bankruptcy, foreclosure, and secured and unsecured realization relating to large forestry conglomerate
• Counsel to Trustee in Bankruptcy on fraud related bankruptcy
• Counsel to Private lender on receivership of real estate holding company, including realization on a partially constructed residential development and a strata titled commercial building
• Counsel to Trustee in Bankruptcy regarding priority disputes between creditors in commercial bankruptcy
• Counsel to a private secured creditor in the bankruptcy of a mortgage lender with a significant portfolio, including investigating and realizing on the Bankrupt’s portfolio
• Counsel to Trustee in Bankruptcy of a mortgage investment company with a significant portfolio of secured and unsecured accounts, including investigating and realizing on such accounts
• Counsel to an unsecured judgment holder in the realization of full payment through sale of large heavy industrial property in New Westminster
• Counsel to financial institution in realization on large sea-going vessel, including receivership and sale
• Counsel to financial institution in realization on commercial helicopters, including location, seizure, and sale