Gift supports new insolvency and financial restructuring program
The Catalyst Capital Group Inc. has committed up to $2.5 million to support an innovative program at Western Law in insolvency law and corporate and financial restructuring. This is part of a $10 million program being developed by Catalyst dedicated to this area of research and education.
Over the next three years, the gift will support a wide range of programs, for students and professionals, alike, including the development of new academic curriculum, funds to attract distinguished lecturers and scholars, as well as support for student scholarships, awards and internships.
“Catalyst’s generous gift will allow our Faculty to enhance its research, teaching and student experience in this important area of law,” says Dean Iain Scott. "We are committed to the creation and implementation of a top-tier program that will be of value to our students and the Canadian professional community, including the judiciary", says Scott.
The Catalyst Capital Group Inc. is Canada’s second largest private equity firm. The firm specializes in control and influence investments in distressed and undervalued Canadian situations and is widely regarded as a leader in its space.
“We believe Canada needs a world-class academic program for research and education in insolvency and restructuring, a hub for the creation and sharing of knowledge by and between scholars, practitioners and the judiciary,” says Newton Glassman, Founder, Managing Partner and CEO of the Catalyst Capital Group Inc.
“We also believe that, along with the privilege of operating in this space in Canada, we have a responsibility to help develop this critical area of Canada’s credit markets. We’re very pleased to support the establishment of this new program and look forward to working with Western to see it come to life,” he adds.
According to Dean Scott, there is a need in Canada to expand the knowledge and capability of those who are involved in complex financial restructurings. With the support of the Catalyst Capital Group there is an opportunity, Scott says, to enhance the understanding and skills needed to clarify the roles, rights, obligations and contributions of all stakeholders in insolvency situations.