Interim CFO, CCAA Restructuring and Transaction Support
The Challenge
When a federally licensed producer entered creditor protection under the Companies’ Creditors Arrangement Act (CCAA), it required immediate financial leadership capable of operating within a court-supervised process. With liquidity under acute pressure, operations at risk, and a Monitor newly appointed, the business needed an interim CFO who could establish credible oversight, stabilize cash, and coordinate a structured sale without delay.
The Strategy
Helmsman assumed the interim CFO role at the outset of CCAA protection, stepping into a business where financial visibility was limited and stakeholder confidence had eroded. The immediate priority was establishing an accurate picture of cash position and near-term obligations, giving the Monitor and key stakeholders a reliable foundation from which decisions could be made.
With that foundation in place, Helmsman arranged debtor-in-possession (DIP) financing. Securing DIP in a CCAA context requires both creditor confidence and a credible operating plan; Helmsman developed the financial reporting and forward-looking analysis to support the facility and sustain lender engagement throughout the proceeding.
Cash management became the operational spine of the engagement. A disciplined disbursement framework preserved the operational continuity the business required while the restructuring proceeded. Helmsman worked in close coordination with the Monitor at each stage, providing the variance analysis, stakeholder reporting, and financial transparency the process demanded.
With operations stabilized, Helmsman supported the Court-supervised Sale and Investment Solicitation Process (SISP). Executing a SISP required organized financial materials, a defensible data room, and consistent reporting to advance the process on the timeline the Court and stakeholders required.
The Outcome
The CCAA proceeding concluded with a court-approved transaction completed by way of reverse vesting order, a structure that transferred the viable operating assets to the purchaser while leaving residual liabilities behind. Helmsman’s financial leadership through the proceeding maintained the operational continuity and creditor confidence required to execute a complex, court-supervised sale in a compressed timeframe.
