May 1, 2026
Torys is pleased to share that the acquisition of the Li‑Cycle Group by Glencore, on which Torys advised, has been recognized by the American Bankruptcy Institute’s (ABI) Asset Sales Committee as the 2026 Cross Border Asset Sale of the Year. The award was presented at ABI’s Annual Spring Meeting on April 24, 2026.
The transaction closed on August 7, 2025, following a court‑supervised sale and investment solicitation process under the Companies’ Creditors Arrangement Act. Li‑Cycle Group sought creditor protection in May 2025, and the sale to an affiliate of Glencore Canada Corporation, its largest secured creditor, was completed by way of a credit bid and the assumption of certain indebtedness.
The closing marked the conclusion of the court‑approved process and was led by a Torys team headed by partner Scott Bomhof.
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 members, providing a forum for the exchange of ideas and information. To learn more, visit ABI’s website.
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