The Catalyst Capital Group Inc. has committed up to $2.5 million to support a 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,” Law Dean Iain Scott said. “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.”
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,” said Newton Glassman, Catalyst Capital Group Inc. founder, Managing Partner and CEO.
“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 Scott, Canada needs to expand its knowledge of complex financial restructurings. With the support of the Catalyst, there is an opportunity to enhance that understanding to clarify the roles, rights, obligations and contributions of all stakeholders in insolvency situations, he concluded.