Partner, CPA, CA, CIRP, LIT
Education & Professional Qualifications
- Bachelor of Commerce, University of Witwatersrand, South Africa, 1983
- Bachelor of Accounting, University of Witwatersrand, South Africa, 1985
- Chartered Accountant (CA), South African Institute of Chartered Accountants, 1988
- Chartered Accountant (CA), Canadian Institute of Chartered Accountants, 1990
- Chartered Insolvency and Restructuring Professional (CIRP), Canada, 1995
- Licensed Insolvency Trustee, Canada, 1995
- Fellow of INSOL International, 2012
- Chartered Professional Accountant (CPA), Institute of Chartered Accountants of Ontario, 2012
Allan Nackan is a Partner with the Insolvency & Restructuring practice of Farber Financial Group.
His practice focuses on corporate insolvency and restructuring, distressed financial advisory services, fraud investigations and forensic accounting.
Allan is a Fellow of INSOL International, having successfully graduated from their Global Insolvency Practice Course, which is the pre-eminent advanced educational qualification focusing on international insolvency. Allan is one of only six INSOL Fellows in Canada.
He acts as court-appointed receiver and interim receiver; as monitor or financial advisor in Companies’ Creditor Arrangement Act (CCAA) and Chapter 11 proceedings; as a trustee under Bankruptcy & Insolvency Act (BIA) proposals; and as a Licensed Insolvency Trustee for a wide variety of corporations and their creditors. He applies his analytical skills to help major financial institutions and other lenders with risk and feasibility studies.
Recently, Allan has been acting as financial advisor to the Superintendent of Financial Services representing Ontario Pension Benefit Guarantee Fund in the CCAA of Nortel Networks (engaged via Paliare Roland Rosenberg Rothstein LLP). Allan has also been engaged by the Ontario Ministry of Economic Development and Trade, Financial Services Commission of Ontario and by numerous secured lenders and stakeholders in various financial advisory roles.
Notable assignments include: restructuring or liquidation of retail chains such as Tabi International, The Tall Girl Shop and Movie Gallery Canada (aka Hollywood Video); the restructuring and sale of the largest movie production studio in Toronto; and successfully managing the operations, restructuring or liquidation of numerous manufacturing, distribution, retail, technology, real estate and media businesses. Broad industry experience also includes cosmetics, textiles, automotive parts, car dealerships; automobile leasing, transport & logistics, media, advertising, printing, software, music, and food distribution industries.
Allan’s cross-border insolvency experience includes acting as financial advisor to a major stakeholder in CCAA/Chapter 11 filings by Nortel Networks Limited, Chapter 15 proceedings for liquidation of US retail operations of The Tall Girl Shop, and representing a numerous US-secured lenders in Canadian insolvency proceedings.
Allan acted as Court-appointed Receiver and Licensed Insolvency Trustee of securities firms, and as such was involved in Ashley vs. Marlow Group Private Portfolio Management Inc., a precedent setting case in Ontario on Part XII of the Bankruptcy and Insolvency Act, governing securities firm bankruptcies. He has led numerous insolvency and forensic proceedings to trace and recover assets in US, Canada, the Caribbean and internationally.
Prior to immigrating to Canada from South Africa, Allan practised as a Chartered Accountant in the areas of management consulting and international tax planning. In 1995, he became a Licensed Insolvency Trustee, and has since managed many successful restructurings and insolvency engagements for corporations in a wide range of industries. Practice specialties also include retail insolvencies, securities firms, and forensic accounting & fraud investigations.
Allan has spoken on the topic of “Fraud: Prevention and Recovery,” “Know Your Client/Due Diligence”, and “A Practical Guide to Survive & Thrive” to banking clients and has published numerous articles on insolvency and restructuring as well as forensic accounting and fraud investigations in publications such as Law Times, Secured Lender, Rebuilding Success, Advanced Manufacturing, The Bottom Line, Plant magazine, and The Globe & Mail.
Allan currently serves as President on the board of the Ontario Association of Insolvency & Restructuring Professionals and is an active participant on the Commercial List Users Committee sub-committee that drafts Model Orders used in insolvency proceedings.
Allan also has a passion for sleight of hand magic as seen on www.reshuffle.ca.