Richard is a Senior Advisor at MPA and is involved in restructure transactions.
Richard is the president of Morawetz Consulting Inc.
Prior to his retirement in 2015 from public practice, Mr. Morawetz led Alvarez & Marsal in its role as court-appointed CCAA monitor and U.S. Chapter 15 Foreign Representative in the successful restructuring of Arctic Glacier Income Fund and Arctic Glacier Inc., a public company and second largest manufacturer and distributor of packaged ice products in North America that had breached its financial covenants. Numerous complexities in the case included: stock exchange continuing reporting obligations and related confidentiality issues; 80% of the business operations and revenues were in the U.S.; the U.S.
Department of Justice anti-trust investigation: environmental liabilities; and settlement of class action litigation claims. Working closely with Arctic’s Board, a going concern sale was achieved, and the senior lender debt was fully repaid, and unsecured creditors received distributions.
Mr. Morawetz also acted as the Chief Restructuring Officer, working closely with the Board of Directors, in leading a successful out-of-court restructuring of High River Gold Mines Ltd., a TSX-listed company with operating mines in Russia and West Africa, and U.S., U.K.and Russian lenders.
Richard has a bachelor degree from University of Toronto. Richard is a Chartered Professional Accountant (CPA,CA), Chartered Insolvency and Restructuring Professional (CIRP), and a trustee in Bankruptcy ICD.D Institute of Corporate Directors / Rotman School of Management, Directors Education Program.