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About Kelly

Kelly is head of the Restructuring & Insolvency group in Calgary. She is recognized as a market leader in restructuring and insolvency in Canada. Kelly leads significant mandates spanning diverse industries. Her client base includes public companies, significant leaders to public and private entities, and various other stakeholders in insolvency proceedings. She effectively advocates her clients' positions in complex matters both in-court and out-of-court and addresses challenges in both domestic and cross-border mandates (including proceedings under both Chapter 11 and Chapter 15 of the US Bankruptcy Code). Kelly has appeared at all levels of court in both Alberta and Ontario, including two appearances before the Supreme Court of Canada in matters of first impression.

Chambers Canada wrote about her:

"She is recognized for her oil and gas work, and sources call her "very adept at managing multiple stakeholders in high-stress or urgent situations; her clear knowledge and experience builds trust with stakeholders and results in effective outcomes."

Select Experience

Some of the cases on the public record in which Kelly has been involved include representing:

Company representations:

  • Jupiter Resources Inc. in its successful CBCA reorganization proceedings wherein Tourmaline Oil Corp. acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately C$60-million (oil and gas)

  • The debtors, as Canadian counsel, in the multi-jurisdictional (sauvegarde/Chapter 11/CCAA) restructuring proceedings of the CGG Group (oil and gas)

  • The debtors in the CBCA and CCAA proceedings of Lightstream Resources Ltd., 1863359 Alberta Ltd., LTS Resources Partnership, 1863360 Alberta Ltd. and Bakken Resources Partnership (oil and gas) and the CCAA proceedings of Bloom Lake General Partner Limited, Quinto Mining Corporation, 8568391 Canada Limited, Cliffs Québec Iron Mining ULC (formerly, Cliffs Québec Iron Mining Limited), Bloom Lake Railway Company Limited and The Bloom Lake Iron Ore Mine Limited Partnership (mining)

Senior Lender representations:

  • The lending syndicate in the Canada Business Corporations Act (CBCA) restructuring proceedings of Source Energy Services Canada LP and its affiliates, including restructuring its US$157-million secured notes and amending and restating its C$80-million credit facility (oil and gas)

  • The lending syndicate in the Alberta Business Corporations Act (ABCA) restructuring proceedings of Stuart Olson Inc. wherein Stuart Olson combined with Bird Construction Inc., pursuant to an arrangement agreement for aggregate consideration of C$96.5-million (construction)

  • The lending syndicate in the complex restructuring proceedings of Bellatrix Exploration Ltd. (CBCA/CCAA), including certain precedential litigation relating to eligible financial contracts and priority disputes (oil and gas)

  • The term loan agent, as Canadian counsel in the cross border (CCAA/Chapter 11) restructuring proceedings of Hollander Sleep Products, LLC one of the largest suppliers of pillows, mattress pads and other bedding products in the U.S. to the retail industry (manufacturing)

  • The lending syndicate, as Canadian counsel in the cross border (CCAA/Chapter 11/Chapter 15) restructuring proceedings of the Sanjel Group (oil and gas services), the Quicksilver Canada entities, the Parallel Energy group and Argent Energy group (oil and gas)

  • The senior lenders in the receivership proceedings of Spyglass Resources Corp. et al., Twin Butte Energy Ltd., COGI Limited Partnership and Redwater Energy Corp., including acting as lead counsel to the secured lender in a precedent setting case before the Supreme Court of Canada (oil and gas)

  • The senior lender in the Chapter 11/CCAA proceedings of Structurlam Mass Timber US, Inc. and its affiliates (manufacturing)

Court-officer representations:

  • The proposal trustee, Alvarez and Marsal Canada Inc., in the BIA proposal proceedings of Petrolama Energy Canada Inc. (oil and gas)

  • The court-appointed monitor, FTI Consulting Canada Inc., in the Companies' Creditors Arrangement Act (CCAA) proceedings of Coalspur Mines (Operations) Ltd.

  • The court-appointed receiver and foreign representative, Ernst & Young Inc., in the cross border (receivership/Chapter 15) proceedings of BOS Solutions Ltd., BOS Solutions Inc., BOS LeaseCo LLC, BOS Solutions Real Estate Inc. and BOS USHoldCo Inc. (oil and gas and environmental solutions)

  • The court-appointed receivers of Questfire Energy Corp., Hyperion Exploration Corp., Ivanhoe Energy Inc., Palliser Oil & Gas Corp., Waldron Energy Corporation (oil and gas); Ladacor AMS Ltd. et al (construction); and Phenomenome Discoveries Inc. et al. (pharma)

Other strategic representations:

  • The Insolvency Institute of Canada, as intervener, at both the Supreme Court of Canada and the Court of Appeal of Alberta, in respect of the priority of deemed trusts in the CCAA proceedings of Canada North Group Inc., et al. (oil and gas)

  • The plan administrator for the Sears Canada Inc. Registered Pension Plan in the CCAA liquidation of Sears Canada (retail)

Awards & Recognition

Kelly is recognized as a leading lawyer in the following publications:

  • Chambers Canada: Canada's Leading Lawyers for Business – 2017–2024 (Restructuring/Insolvency)

  • Who's Who Legal: Thought Leaders – 2017–2018, 2020–2024 (Restructuring & Insolvency)

  • The Legal 500 Canada – 2016–2024 (Restructuring & Insolvency)

  • The Best Lawyers in Canada – 2015–2022, 2024 (Insolvency and Financial Restructuring Law)

  • Benchmark Canada: The Definitive Guide to Canada's Leading Litigation Firms and Attorneys – 2014–2015, 2017–2020, 2022 and 2024 (National Litigation Star: Insolvency; Provincial Litigation Star: Alberta – Insolvency)

  • Chambers Global: The World's Leading Lawyers for Business – 2014–2024 (Restructuring/Insolvency)

  • The Canadian Legal Lexpert Directory – 2013–2024 (Insolvency & Financial Restructuring – Financial Restructuring)

  • Who's Who Legal: Canada 2023 (Restructuring & Insolvency)

  • Who's Who Legal: Global 2023 (Restructuring & Insolvency)

  • Benchmark Canada's Top 100 Women in Litigation 2023

  • IFLR1000: The Guide to the World's Leading Financial and Corporate Law Firms – 2022–2023 (Restructuring and Insolvency)

  • Euromoney's Women in Business Law Expert Guide 2022 (Restructuring & Insolvency)

  • Thomson Reuters Stand-out Lawyers – Independently Rated Lawyers – 2020–2021 (As nominated by senior in-house counsel)

Kelly was awarded the first Annual Honourable Lloyd Houlden Research Fellowship from the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) for her working paper on eligible financial contracts in Canadian insolvency legislation.

Professional Activities

Kelly is the vice president of the Insolvency Institute of Canada, Canada's premiere private sector, invitation-only, insolvency organization dedicated to promotion of excellence in the field of insolvency. Kelly is the western editor of the Canadian Bankruptcy Reports and has published extensively on various insolvency-related topics, including various submissions to the Annual Review of Insolvency Law, Canada's leading insolvency publication. She is frequently asked to speak at conferences and other industry events across a variety of emerging topics.

Kelly is also a member and past-president of the Northwest Chapter of the Turnaround Management Association, a member of the International Insolvency Institute, the Association of Corporate Growth – Calgary Branch, The Law Society of Alberta, and The Law Society of Ontario.

In 2010, 2014 and 2015, Kelly was retained by Industry Canada as a board member for the Licensed Insolvency Trustee Oral Board of Examination in Calgary, Alberta.

Publications
Professional Appearances
  • Co-presenter : Restructuring and Insolvency: A Cross-Country Year in Review
    Blakes Business Class Seminar, Toronto, Ontario, January 25, 2024.
  • Panellist : Insolvency Insider Future Leaders Conference
    Insolvency Insider, Calgary, Alberta, October 4, 2023.
  • Panellist : Pension Protection Act – Considerations & Implications
    Benefits and Pensions Monitor Webinar, June 28, 2023.
  • Speaker : Bill C-228 Considerations and Implications, featuring Blake, Cassels & Graydon LLP
    Episode 43, CIBC Mellon Industry Perspectives Podcast, March 21, 2023.
  • Co-presenter : Restructuring and Insolvency: A Cross-Country Year in Review
    Blakes Business Class Seminar, Toronto, Ontario, January 17, 2023.
  • Panellist : Canada/U.S. Legal Update Seminar Series: Restructuring and Insolvency
    Blakes Business Class Webinar, September 22, 2022.
  • Panellist : Q1 2022: Questioning established case law?
    Insolvency Insider (virtual), April 26, 2022.
  • Co-presenter : Restructuring 2022: National and International Trends
    Blakes Business Class Webinar, January 26, 2022.
  • Co-presenter : Export ban on the US Bankruptcy Code?
    INSOL International, INSOL Virtual 2021, June 10, 2021.
Media Activities
  • Interviewed : Law protecting defined benefit pensions in insolvency could have undesired results: Blakes lawyers
    Interviewed by Zena Olijnyk, Canadian Lawyer (Online), April 6, 2023.
Education

Admitted to Alberta Bar – 2001
Admitted to Ontario Bar – 2000
LLM, Osgoode Hall Law School – 2007
JD, University of Western Ontario – 1998
BA (Hon.), University of Waterloo – 1995

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