Bob Betteridge 1566 1

Robert D. Betteridge

Partner

403.260.0188
rdb@bdplaw.com
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Education:
University of Calgary, Bachelor of Laws, 1997

University of Calgary, Faculty of Science, Doctoral Program (Molecular Genetics), 1992-1995

University of Calgary, Bachelor of Science (Biochemistry), 1992

Bar admission: 1998
Industries:
Power, Renewables and energy transition
Practice areas:
Banking and finance, Infrastructure and project development, Restructuring and insolvency

Experience

Bob's focus is on:

Corporate restructuring and distressed commercial transactions

  • Distressed acquisitions and asset/share dispositions
  • Workout finance and refinancing
  • DIP lending

Debt finance

  • Project finance/acquisition finance
  • Asset backed lending
  • Subordinated/convertible debt products
  • Mid-market and syndicated financing
  • Structured finance and securitization

Novel financial products

  • Quasi-equity
  • Receivables factoring

In addition to ongoing ordinary course debt finance work providing advice to lenders and borrowers in the commercial mid-market and junior syndications, Robert has advised clients on a broad and complex array of financing, restructuring and commercial transactions including:

  • Lead representation of a commercial client in the Oil & Gas service industry in respect of several multi-jurisdictional distressed asset disposition transactions, senior/subordinate debt restructuring, and the development and implementation of ‘pre-insolvency’ strategy
  • Lead representation to a private commercial lender in respect of a chain of companies in the hospitality sector and including a debt restructuring strategy through a proposal under the Bankruptcy and Insolvency Act, DIP financing and a wide ranging, multistage corporate reorganization and recapitalization plan
  • Lead representation of a corporate renewable energy client in respect of project finance for a privately owned, renewable energy project
  • Lead Canadian representation of a large international petrochemical industry client in respect of a Canadian expansion project
  • Transactional structure architect, and development of framework transactional documents for a corporate financial services client in respect of several unique cash flow acquisition transactions via use of a novel quasi-equity product
  • Lead representation and development of transactional structures and framework transactional documents for a regional corporate accounts receivable factoring client
  • Lead Canadian representation for a large international lending syndicate to an international Oil & Gas corporation and including pre-insolvency strategic advice and implementation of a pre-insolvency credit enhancement and security redevelopment strategy
  • Lead representation of a financial institution in respect of a covert senior debt refinancing and replacement by way of a silent debt participation arrangement

Professional history

Prior to re-joining BD&P in 2002, Robert worked in the Structured Finance department of a London ‘Magic Circle’ law firm where his practice was focused on European securitization transactions. 

Professional involvement

Bob has been a sessional lecturer since 2015 in Restructuring & Insolvency at the University of Calgary Law School. From 2013 to 2015 he was an instructor of Secured Transactions at the University of Calgary Law School.

Professional associations

  • Member, Law Society of Alberta
  • Member, Canadian Bar Association
  • Member, Calgary Bar Association

Presentations

Bob has presented at various conferences, panels, seminars, and other events, including:

  • Advanced Lending at the Legal Education Society of Alberta Symposium, 2016
  • Introduction of Typical Debt Facilities, Current Issues for Junior Bankers: a Four-Part Seminar Series, BD&P Banking Seminar, March 2016
  • M&A Transactions: Private, Public & Acquisition Facilities, BD&P Client Seminar, October 2015
  • 10 Must Have Clauses in a Canadian Factoring Agreement at the International Factoring Association Annual Factoring Conference, April 2015

Representative work

Daytona Power Corporation's late-stage project development financing

Counsel to Daytona Power Corporation in respect of late-stage development financing for a large scale (3,500 – 4,000 MW) offshore to onshore, high voltage direct current transmission project in California.

Daytona Power Corporation's late-stage project development financing

Counsel to Daytona Power Corporation regarding a late-stage development financing for the Blue Diamond 500MW Advanced Pumped Hydro Storage Project in Nevada.

Late-stage development financing for Daytona Power Corporation's Southern California project

Counsel to Daytona Power Corporation in respect of late-stage development financing for Phase I of the 500MW Lake Elsinore Advanced Pumped Storage Project (LEAPS) in Southern California, and for Phase II involving an additional 500MW Lake Elsinore Advanced Pumped Storage Project (LEAPS II).

Windfarm asset project refinancing and extension

Counsel to Box Springs Wind Corporation in the refinancing and extension of the project financing for a windfarm asset in Southern Alberta.

Restructuring of Westmorland Coal Company and its Alberta mining operations

Acted as local transactional agent counsel in regard to the cross border, Chapter 11 driven, restructuring of Westmorland Coal Company and its Alberta mining operations through its Alberta subsidiary corporations. This engagement involved several stages of debt restructuring, a complex tax structured credit bid purchase of all the shares of Westmoreland's Alberta subsidiaries, and various transactional logistics necessitated by Westmoreland's convoluted international corporate structure and Alberta's regulatory environment.

Read Case Study

Landmark Cinemas Canada's credit facilities

Counsel to Alberta Treasury Branches in connection with credit facilities provided to Landmark Cinemas Canada Limited Partnership in the amount of $49 million and the financing of Landmark Cinemas Canada Limited Partnership's acquisition of certain theatres located in Ontario and the Western Canadian provinces from Empire Theatres Limited and ECL Western Holdings Limited.