BDO and Deloitte confirm sale of Deloitte's consumer insolvency practice

TORONTO, Nov. 17, 2016 (GLOBE NEWSWIRE) -- Continuing to expand on one of Canada's most comprehensive consumer financial recovery practices, BDO Canada Limited, is pleased to announce the integration of Deloitte's consumer insolvency practice into BDO's national financial recovery services practice. Together, the practices now operate under the BDO Canada Limited banner.

The newly expanded team of licensed insolvency trustees, proposal administrators, credit counsellors and support staff, make BDO one of the largest teams of professionals delivering consumer insolvency services in Canada. The combined practices enhance BDO's geographic reach, providing services in Quebec and Newfoundland and Labrador, and expands on their existing presence in Saskatchewan.

"Deloitte is focused on serving public and private companies distinctively. Our corporate Restructuring practice remains strong and we're committed to bringing innovative insights, solving complex challenges and unlocking sustainable growth for our clients," said Jean-François Nadon, Financial Advisory Partner and National Leader of Deloitte's corporate Restructuring group in Canada. "We expect a seamless transition for our clients through the process of this sale."

Doug Jones, National Insolvency Practice Leader, of BDO Canada Limited stated: "Our firm is committed to providing Canadian consumers with debt relief solutions when they need them. By integrating Deloitte's consumer insolvency practice, this increases our number of licensed insolvency trustees, and provides us with greater geographic reach, allowing us to better serve Canadians in need of solutions to their financial problems."

"When Deloitte made the decision to move away from consumer insolvency we looked throughout the country for the firm that would be the best destination for our consumer insolvency team and its clients" says Nancy Snedden, a Deloitte Partner and lead of their Newfoundland and Labrador restructuring team. "In BDO, we have found a strong match."

About BDO

With over 100 offices nationwide, BDO is one of the largest national accounting and advisory partnerships in Canada. Our professionals serve both public and private organizations across a broad range of industries. As a member firm of the international BDO network, we leverage the knowledge and experience of advisors from over 1,000 offices in more than 100 countries.

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

BDO is the brand name for the BDO network and for each of the BDO Member Firms.

CONTACT: Doug Jones 
                             National Insolvency Practice Leader
                             BDO Canada Limited
                             Tel: 705-726-6331
                             Email: djones@bdo.ca 
                             www.debtsolutions.bdo.ca