Richard Morawetz is a Managing Director with Alvarez & Marsal Canada ULC in Toronto. He brings more than 25 years of turnaround and restructuring experience to the firm. Prior to joining A&M, Mr. Morawetz was a Senior Partner with a major international accounting firm in Canada. Together with Doug McIntosh, Mr. Morawetz is responsible for establishing all aspects of A&M's Canadian operations.
Mr. Morawetz is a respected and established leader in the Canadian restructuring industry. He has assisted management teams and boards of directors of private and public companies, as well as advised corporate stakeholders, including secured creditors, bondholders, unsecured creditors, equity holders and government agencies. Mr. Morawetz has had significant interim and crisis management experience, acting as a Chief Restructuring Officer, and having operated and sold several businesses as going concerns pursuant to Court or privately-appointed receiverships. He has had extensive experience in business viability assessments and monitoring engagements, liquidations, turnarounds and workouts, and corporate restructurings pursuant to CCAA filings with several cases involving cross-border operations. Mr. Morawetz's receivership and bankruptcy experience have also included conducting fraud investigations. Industry experience includes cases in the mining, forestry, manufacturing, automotive, real estate, construction, transportation, retail, hospitality/travel/airline, food and beverage, and agriculture industries. Most recently, he has acted as Chief Restructuring Officer of a TSX-listed mining company with operations in Russia and West Africa.
Some of Mr. Morawetz's notable assignments include: acting in the liquidation of Canadian Commercial Bank; participating, while on a U.K. secondment, in a major insolvency of a large property group and negotiating the sale of the receiver's interest in a well-known major sports complex and surrounding property, amid shareholder disputes, redevelopment and environmental issues; operating and completing a restructuring of Canada's second largest pork producer, which represented one-half of the Canadian market and a significant component of all market feeder hog exports to the U.S.; managing a workout involving the servicing of residential lands and, ultimately, the marketing and build out of 300 lots / new homes; advising a tier one automotive parts manufacturer in crisis mode, and demonstrating potential viability while overseeing the company's debt refinancing; acting as a Court-appointed Monitor pursuant to the CCAA proceedings of a tier one automotive parts manufacturer in connection with the wind down of its operations; and advising the board of directors in assessing the viability of a Canadian public company and its U.K. subsidiary, which manufactured and distributed wall coverings, and, ultimately, implementing a turnaround and restructuring of the Canadian operations.
Mr. Morawetz holds a bachelor's degree in commerce from the University of Toronto. He is an active member of The Insolvency Institute of Canada and a Director of the Turnaround Management Association (TMA). He is also a former Director and current member of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), INSOL International and the American Bankruptcy Institute (ABI). Mr. Morawetz is a Chartered Accountant, Chartered Insolvency and Restructuring Professional, and a Canadian Trustee in Bankruptcy. He is a frequent speaker on restructuring and insolvency matters.