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LEGAL REPORT: LITIGATION GILBERTSON DAVIS EMERSON LLP BARRISTERS AND SOLICITORS practice restricted to CIVIL LITIGATION, INSURANCE LAW Angela Emerson John L. Davis John L. Davis Professional Corporation R. Lee Akazaki Jody W. Iczkovitz Jonathan J. Weisman Counsel: James E. Adamson 20 Queen Street West, Suite 2020 Toronto, Ontario M5H 3R3 Tel: (416) 979-2020 Fax: (416) 979-1285 email: office@gilbertsondavis.com demise of any or all of them would spark a wave of insolven- cies that would quickly lead to more work for lawyers doing business litigation. "I think it will have a huge impact," says Taylor. "The fi rst to go will be all of the suppliers. Each of the suppliers has suppliers. It's not going to take a lot for them to go under." The effect, he adds, would be catastrophic as com- panies begin slashing jobs and production. "I think you're looking at a deep effect and I think you're looking at a long- term effect." Even in British Columbia, which has little manufacturing compared to Ontario, business litigator Barry Fraser, of Clark Wilson LLP, has begun seeing signs of hard times. "I don't think I've seen people as anxious about fi nancial conditions as we're seeing today," says the Vancouver lawyer, who notes that with real estate prices on the ebb, even developers in what until now was one of the country's hottest markets are fi nd- ing themselves teetering on bankruptcy as fi nancing dries up. "Where we're seeing a signifi cant increase in litigation is in debtor-creditor work," he says. "People are having trouble pay- ing their bills." As a result, some developments have come to a halt, and now Fraser expects a recent spike in bankruptcy fi lings will get worse in the new year as those lenders who have pro- ceeded cautiously over unpaid bills lose patience. "Everyone I've talked to has suggested we're in the eye of the storm at the moment." Hill Dewar Vincent LITIGATION COUNSEL Hill Dewar Vincent carries on a legal practice that concentrates on providing litigation, arbitration and dispute resolution services to local, national and international clients. Dave Hill Sherri Walsh Derek M. Olson Robert A. Dewar, Q.C. Faron J. Trippier Madeline Low Stephen F. Vincent Karen R. Wittman Mandy Klein Counsel: The Honourable Peter S. Morse, Q.C. Suite 2670 - 360 Main Street, Winnipeg, Manitoba R3C 3Z3 Telephone (204) 943-6740, Facsimile (204) 943-3934 E-mail: lawyers@hillco.mb.ca 60 JANU AR Y 2009 www. C ANADIAN Law ye rmag.com Untitled-2 1 12/6/07 10:48:19 AM