National law firm Akerman obtained recognition of a Canadian Reverse Vesting Order on behalf of theme park ride manufacturer Dynamic Technologies Group in its Chapter 15 case filed in the United States Bankruptcy Court for the Northern District of Texas.

The company and multiple affiliates sold substantially all of their assets to pre-petition lender Promising Expert Limited. The Court of King’s Bench of Alberta approved the sale in June through the debtors’ Companies’ Creditors Arrangement Act (CCAA) proceeding. Dynamic Technologies was then able to seek recognition and enforcement of the sale in the U.S.

Akerman Bankruptcy and Reorganization lawyers Adam Swick in Austin, as well as David Parham and Laura Taveras in Dallas continue to represent the client in the U.S. proceeding.

The case was reported by Global Restructuring Review, which can be viewed here. 

About Akerman
Akerman LLP is a top 100 U.S. law firm recognized among the most forward-thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth.

Akerman’s Bankruptcy and Reorganization Practice Group serves as a strategic partner to creditors, distressed businesses, court appointed committees, and various fiduciaries. The firm has served as bankruptcy counsel in many of the nation’s largest bankruptcy filings, and its international bankruptcy team has filed a multitude of Chapter 15 cases, many of which have resulted in critical opinions that helped shape the current legal landscape.

Akerman is recognized by U.S. News - Best Lawyers as a national tier one law firm in the Litigation - Bankruptcy category.