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Alberta Court of Queen’s Bench rules that end-of-life environmental obligations are not always first in priority, in contrast to the landmark Redwater decision

The recent decision of Justice B.E.

Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Bankruptcy and Insolvency Act 1985 (Canada)
Lien on me: purchasers as secured creditors

Pan Canadian Mortgage Group v. 679972 B.C. Ltd., 2013 BCSC 1078 (Pan Canadian), addresses the nature and priority of a purchaser’s lien, which, in general terms, is a financial charge that results when a purchaser pays a deposit toward the purchase price under a contract of purchase and sale.

Canada, British Columbia, Banking, Construction, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, Secured creditor