Coventree Inc. was a financial intermediary specializing in structuring and funding solutions for its clients using special purpose trusts it established and funded by asset-backed commercial paper. Coventree also provided financial and administrative services to conduits sponsored by third parties.
With the collapse of the asset-backed commercial paper market in Canada in 2007, Coventree discontinued its operations and commenced winding up proceedings under the OBCA. We were appointed as Liquidator pursuant to Coventree’s plan of liquidation and distribution. In that role, we assisted Coventree to resolve shareholder litigation and to address complex regulatory claims advanced by the Ontario Securities Commission. We also completed a Court approved claims process, reported to Coventree’s shareholders and distributed in excess of $60 million to them.