Tax Lawyer Joan Jung moderated a session on "Businesses in Financial Distress: A Debt Forgiveness Primer" on October 26, 2020. This session was part of the Canadian Tax Foundation's virtual conference "The Foundation Conferences: Leading Tax Thought," held from October 26-27, 2020. 

Joan's session discussed selected tax issues in debt restructuring transactions, with a special focus on the tax considerations that arise on debt for equity and/or assets and debt for debt exchanges in the context of syndicated financing arrangements. The session addressed working effectively with the debt forgiveness and foreclosure rules to preserve tax attributes, acquisition of control issues and consequences, and other issues relevant to creditors and shareholders.