This paper provides an overview of the roles played by financial and legal advisors in corporate insolvencies in Alberta. It discusses how and when debtors and creditors should engage or consult with a licensed insolvency trustee and specialized insolvency legal counsel. It also explores the nature and benefits of forebearance agreements.

This paper is part of a collection presented at LESA’s Bankruptcy and Insolvency Essentials program in Edmonton on March 15, 2023.