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Sam
Billard

Partner
  • sbillard@airdberlis.com
  • 416.865.4648
Office:
  • Toronto Office
Call to Bar:
Admitted to the Ontario Bar: 1985
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  7. Sam Billard

Sam is a problem solver. Drawing on his years of experience and pragmatic nature, he addresses clients’ financing and lending issues both in Canada and abroad. He has a reputation for finding practical solutions to difficult problems and is always striving to make deals work for all parties involved. He is an expert in Caribbean banking and, with great local connections, is a go-to advisor for many of North America’s largest financial institutions active in the region.

Sam is a member of the firm's Financial Services Group and has extensive experience in project finance, syndicated lending, asset-based lending, cannabis lending, precious metals lending, restructuring, leasing, derivatives, asset-backed commercial paper, structured finance, and public and private bond financing. Focusing on unusual, often multi-jurisdictional, secured lending transactions, he provides corporate, regulatory and transactional advice to some of the largest financial institutions in North America. Sam has extensive experience in drafting and commenting on over-the-counter swap documentation and other bespoke derivative transactions.

He began his career with the law department of one of Canada's leading commercial banks and later transitioned into the banking, restructuring and structured finance areas of private practice. He has a strong understanding of business as well as the accounting, tax and regulatory environments in which his clients work.

Sam’s broad experience and practical approach allow him to provide proactive and effective advice to clients in all areas of financial services. He has developed an expertise in assisting financial institutions restructure exposures to struggling resorts, hotels and other hospitality-related businesses in the Caribbean.

Expertise

  • Gaming
  • Restructuring & Insolvency
  • Projects & Infrastructure
  • Financial Services

Representative Matters

Representative Matter

Powerfleet Closes Strategic Acquisition and Related Financing of Fleet Complete

On October 1, 2024, Powerfleet, Inc. (Nasdaq: AIOT), a leading global provider of AIoT SaaS solutions for the mobile asset industry, completed its acquisition and related financing of Fleet Complete, a key player in connected vehicle technology and fleet management.

October 01, 2024

Representative Matter

Linamar Corporation Completes $550-Million Private Placement of Senior Unsecured Notes

On June 22, 2023, Linamar Corporation announced that it has executed and closed a note purchase agreement pursuant to which it sold $550-million aggregate principal amount of 5.96% senior unsecured notes due June 30, 2033, to certain institutional accredited investors by way of private placement.

June 22, 2023

Representative Matter

KeyBanc Capital Markets Inc. Closes US$285 Million Financing for Hard Rock Hotel & Casino Redevelopment

KeyBanc Capital Markets Inc. facilitated a US$285 million senior secured notes financing for HR Ottawa, L.P. in connection with the redevelopment of the Hard Rock Hotel & Casino.

March 28, 2023

Representative Matter

Fluent, Inc. Completes Acquisition of AdParlor Holdings, Inc.

Fluent, Inc. (“Fluent”), a leading data-driven performance marketing company, signed a definitive agreement to acquire AdParlor Holdings, Inc. ("AdParlor") and its group of companies.

July 03, 2019

Representative Matter

Booth Centennial Healthcare Linen Services Completes Sale of its Business

Booth Centennial Healthcare Linen Services completed the sale of all or substantially all of its assets to Ecotex Service Corporation in partnership with Fengate Capital Management.

November 01, 2016

Representative Matter

PCL Closes McMaster Children’s Health Centre P3 Project

PCL Constructors Canada Inc. reached financial and commercial close on the McMaster Children’s Health Centre Project.

April 02, 2014

Professional Involvement

Memberships

  • American Bankruptcy Institute
  • Canadian Bond Investors' Association

"State of the Canadian CRE Market," Altus Connect Conference, September 2024.

"Real Estate in Distress and Workouts," Presentation to RBC Special Loans, July 2024.

"Real Estate in Distress and a Taste of Current Issues," BMO Seminar, April 2024.

"Cross-Border and Other Issues in Canada’s Cannabis Sector," CIBC Presentation, July 2019.

"Cross Border Issues, Lending and Insolvency in Canada’s Cannabis Sector," RBC Presentation, June 2019.

"Trump, Tomahawks and Trade," The Risk Management Association’s Annual Meeting of the Senior Workout Officers in Canada, June 2017.

"Unique Challenges Faced by Creditors and Other Stakeholders Involved in Resort Insolvencies in the Caribbean Region," ABI Cross-Border Insolvency Program, November 2016.

Sam has written several articles related to the asset-backed commercial paper market, the credit crisis of 2007 as well as a series of articles on carbon trading. His paper titled "Credit Crisis and Commercial Lending" prepared for the Canadian Institute and another paper titled "The CDS Contagion," published in The National Banking Law Review, June 2009 edition explored the roots of the credit crisis of 2007. He has also written extensively on the challenges faced by international lenders when realizing on security in the Caribbean region and on emerging issues faced by accounting firms in public company mandates. Sam has spoken on the Trump Presidency and Trade to the Restructuring Management Association. In 2024, he authored a Lexpert article on distress in the Canadian real estate development industry.

 

Related Publications

Article

Lenders Take Note: Consultations Set to Begin on Ontario’s New Coerced Debt Legislation

June 17, 2025

Related News

A&B in the News

After the Surge: Understanding the GTA’s Housing Market Decline

January 08, 2026

A&B in the News

Sam Billard Discusses Distressed Real Estate in CBC News Video

August 23, 2024

A&B in the News

Sam Billard Shares Legal Insights on Distressed Real Estate in Lexpert Article

April 17, 2024

A&B in the News

Distressed Real Estate Team Featured in Canadian Property Management Article

March 25, 2024

Firm News

Aird & Berlis Recognized in 2018 Canadian Legal Lexpert Directory

April 12, 2018

Education

  • LLB and MBA, Dalhousie University, 1983
  • BA (Hons), Dalhousie University, 1978 
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