Andrew Adessky

Partner | CPA, MBA, CIRP, LIT

Write to Andrew Adessky

Accomplished, creative, thorough.

Experienced and unflappable, Andrew’s 30 years in financial advisory, insolvency consulting, cross-border restructuring, crisis management, forensic investigations and litigation support gives him a level of expertise that lends a controlled, methodical approach to each and every mandate. Having led a large number of important cases, serving as Licensed Insolvency Trustee, Receiver and consultant and representing diverse constituents, Andrew is a much sought-after expert in bankruptcy and insolvency restructuring, as well as financial reorganization and workouts.

Andrew works closely with management, secured creditors, creditors’ committees and other professionals in addressing complex financial restructuring issues including plan formulations, creditor negotiations, asset dispositions and debtor in possession financing. In addition to having played a critical role in managing and coordinating various transactions ranging from refinancing, going-concern sale of businesses, out-of-court restructurings, he has also been involved in important investigative and litigation support assignments addressing the misappropriation of funds, negligence, and auditor liability.

Andrew’s approach to work is diligent, professional and driven but performed in a respectful manner such that he is able to reconcile opposing views and gain consensus on difficult issues.

Fields of expertise

Bankruptcy and insolvency restructuring
Financial reorganization
Business consulting
Forensic investigation and litigation support

Industries

Manufacturing
Pharmaceutical
Food & beverage
Retail
Transportation
Precious metals
Construction

Academic background

Licensed Insolvency Trustee (Ontario), 2012
Licensed Insolvency Trustee (Quebec), 1995
Chartered Insolvency and Restructuring Professional (CIRP),1992
M.B.A., Chicago University, 1986
Chartered Professional Accountant (CPA, CA),1985
Graduate Diploma in Public Accountancy, McGill University, 1983
B.Com., McGill University, 1982

Professional and community involvement

Member of the Insolvency Institute of Canada
Member of the American Bankruptcy Institute
Member of the Association of Insolvency and Restructuring Advisors (AIRA)

Public recognition

Author. “The landlord’s plight: The financially-troubled tenant,” Espace Montréal, vol. 28, n˚ 1, 2019.
Speaker. Annual Review of Insolvency Law. 2018.
Quoted in an article by André Dubuc. “Pharmetics de Laval fait faillite,” La Presse. March 2018.
Quoted in an article. “Tragédie de Lac-Mégantic : où sont certains dossiers d’indemnisation?,” Radio-Canada. March 2017.
Speaker. Annual Review of Insolvency Law. 2017.
Speaker. Annual Review of Insolvency Law, 2016.
Speaker. Conférence sur la restructuration, l’insolvabilité et le redressement financier de l’Institut Canadien – November, 2016.
Speaker. Cross Border Speaker Program. American Bankruptcy Institute (ABI). November 2016.
Quoted in an article by Giuseppe Valiante. “Lac-Mégantic : le recours collectif vise maintenant la MMA et le conducteur,” La Presse. October 2016.
Quoted in an article by Giuseppe Valiante. “Driver and owner of train in Lac-Mégantic disaster added to class action lawsuit,” CBC. October 2016.
Quoted in an article by Giuseppe Valiante. “About 400 people contesting payment from Lac-Megantic settlement fund,” CTV News. April 2016.
Quoted in an article. “Lac-Mégantic : environ 400 personnes contestent le montant d’indemnisation reçu,” Radio-Canada. April 2016.
Quoted in an article. “Lac-Mégantic : un survivant dénonce le processus de répartition des indemnités,” Radio-Canada. January 2016.
Quoted in an article by Eric Atkins. “Compensation should flow soon to Lac-Mégantic victims,” The Globe and Mail. October 2015.
Quoted in an article by Eric Atkins. “CP Rail denies responsibility in Lac-Mégantic tragedy,” The Globe and Mail. June 2015.
Quoted in an article by Carl Marchand. “Lac-Mégantic : le plan d’indemnisation adopté à l’unanimité,” Radio-Canada. June 2015.
Quoted in an article by Allan Woods. “$77M settlement proposed for families of Lac-Mégantic victims,” The Star. April 2015.
Panelist. Risk Management Association – Toronto Chapter. February 2015.
Speaker. Conférence sur la Restructuration, Insolvabilité & Faillite. L’Institut Canadien. Sept. 30/Oct.1 2014.
Speaker. Canadian Association of Insolvency and Restructuring Professionals (CAIRP) presentation at annual conference. August 2014.
Quoted in an article by Daniel McHardie. “Atcon overstated revenue by $35.4M before loan guarantees,” CBC News. December 2012.

Important mandates

CCAA Monitor for Montreal, Maine & Atlantic Canada Co. overseeing the creation and distribution of a $450 million indemnity fund for the Lac-Megantic train derailment.
CCAA Monitor for Kitco Metals Inc., one of the longest CCAA restructurings in Canadian history.
Trustee in respect of the restructuring and/or bankruptcy of numerous Canadian retailers including Jones New York Canada, Mexx Canada and Effigi.
Trustee to the bankruptcy of Pharmetics (2011) Inc., a leading contract pharmaceutical manufacturer.
Forensic investigation in connection with a review of the financial statements of one of Canada’s largest construction companies.

Services

Andrew’s Expertise

Crisis Management & Restructuring

When a potential risk becomes a real risk, a company and its stakeholders, with varying motivations and interests, often need to navigate a complex web of decisions.