On November 10, 2022, the Supreme Court of Canada (the "SCC") released its long-awaited decision in Peace River Hydro Partners v Petrowest Corp., 2022 SCC 41(“Peace River”), which addresses the interaction between insolvency law's single proceeding model and arbitration law’s emphasis on contractually bargained-for rights – an interaction often described as “a conflict of near polar extremes”.

On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.