Kelly Bourassa

PartnerBlake, Cassels & Graydon LLPInsolvency & Restructuring; Commercial

Kelly is head of the Restructuring & Insolvency group at Blake, Cassels & Graydon LLP in Calgary. She is an experienced insolvency lawyer who advises clients in all aspects of complex commercial reorganizations, in- and out-of-court work-outs, receiverships and other enforcement of security, representing lending syndicates, debtors, purchasers, secured and unsecured creditors and court officers in domestic and cross-border cases. Kelly is recognized as a leading lawyer in Chambers Canada, Chambers Global, The Legal 500 Canada, The Best Lawyers in Canada, The Canadian Legal Lexpert Directory and Benchmark Canada. She is the Western Editor of the Canadian Bankruptcy Reports. Kelly is a member of the Insolvency Institute of Canada and sits on the board of directors of the IIC, she is VP Conferences of the Turnaround Management Association and a member of the American Bankruptcy Institute, Law Society of Alberta and Law Society of Upper Canada.

As a Chambers-ranked restructuring and insolvency lawyer, Kelly is experienced in all areas of corporate restructuring, including both the litigation and commercial aspects of workouts, reorganizations, corporate arrangements, receiverships and other enforcement of security (both domestic and cross-border). Kelly leads the Blakes Calgary Restructuring & Insolvency practice and is an active member of the Calgary restructuring community.

Over the past 20 years, she has acted as strategic counsel to financial institutions, debtors, debtor-in-possession ("DIP") lenders, secured and unsecured creditors, equity backers and court officers, including receivers, monitors and trustees in bankruptcy in complex domestic and cross-border insolvencies across a broad range of industries, with particular expertise in energy-related restructurings. Kelly has appeared before all levels of courts in Canada, including acting as lead counsel to the senior secured lender in the matter of Redwater Energy Corp. before the Supreme Court of Canada in an important case dealing with priority of secured creditors claims as against abandonment and reclamation liabilities.

Outside of Blakes, Kelly is involved with a number of committees and organizations dedicated to improving the insolvency process and practice in Canada. She is a member of the board of directors of the Insolvency Institute of Canada and am the current vice-president communications of the Turnaround Management Association. She is also a member of the Canadian Bar Association, the American Bar Association, the American Bankruptcy Institute, INSOL International, the International Women's Insolvency & Restructuring Confederation and The Advocates' Society.

Chambers Canada wrote about her:

"Recognized as extremely strong legal counsel to lenders and lender syndicates. Known for her incredible expertise in the oil and gas sector, she is praised by a client for crafting strategies and giving great advice."


  • Osgoode Hall Law School, York University, LL.M., 2007
  • University of Western Ontario, J.D., 1998
  • University of Waterloo, B.A. (Hons.), 1995

Bar Admission

  • Alberta, 2001
  • Ontario, 2000


  • Insolvency Institute of Canada, as intervenor, in respect of the deemed trust priority appeal proceedings in the restructuring of Canada North Group Inc., et al.
  • The debtors, as Canadian counsel, in the multi-jurisdictional (sauvegarde/Chapter 11/CCAA) restructuring proceedings of the CGG Group (oil and gas services)
  • The debtors in the CCAA proceedings of Lightstream Resources Ltd., 1863359 Alberta Ltd., LTS Resources Partnership, 1863360 Alberta Ltd. And Bakken Resources Partnership (oil and gas)
  • The lending syndicate in the CCAA proceedings of Endurance Energy Ltd. (oil and gas)
  • As Canadian counsel, the lending syndicate in the cross-border Companies Creditors' Arrangement Act (CCAA / Chapter 15) restructuring proceedings of the Sanjel Group (oil and gas services)
  • As Canadian counsel, the agent to the lending syndicate in the cross-border (CCAA/Chapter 11) restructuring proceedings of the Quicksilver Canada entities (oil and gas)
  • The lending syndicate in the receivership proceedings of Spyglass Resources Corp. et al. and Twin Butte Energy Ltd. (oil and gas)
  • The senior secured lender in the receiverships of COGI Limited Partnership and Redwater Energy Corp. (oil and gas)


  • Turnaround Management Association (VP Conferences)
  • Insolvency Law Section, Canadian Bar Association
  • American Bankruptcy Institute
  • Insolvency Institute of Canada (Member, Board of Directors)
  • The Advocates Society
  • Association of Corporate Growth - Calgary Branch
  • The International Women's Insolvency & Restructuring Confederation

Awards & Honours

  • The Best Lawyers in Canada, 2015-2019 (Insolvency and Financial Restructuring)
  • Chambers Canada: Canada's Leading Lawyers for Business, 2017-2019 (Restructuring & Insolvency)
  • Chambers Global: The World's Leading Lawyers for Business, 2014-2018 (Restructuring & Insolvency)
  • Who's Who Legal: Thought Leaders, 2017-2018 (Restructuring & Insolvency)
  • The Legal 500 Canada, 2016-2018 (Recommended - Restructuring & Insolvency)
  • IFLR 1000: The Guide to the World's Leading Financial Law Firms - 2017 Edition (Restructuring & Insolvency)
  • Benchmark Canada: The Definitive Guide to Canada's Leading Litigation Firms and Attorneys, 2014, 2015, 2017 and 2018 (National Litigation Star: Insolvency; Provincial Litigation Star: Alberta - Insolvency)
  • The Canadian Legal Lexpert Directory, 2013-2018 (Insolvency & Financial Restructuring)