The federal government’s budget implementation bill, Bill C-86[1], received Royal Assent on December 14, 2018. An aspect of the budget implementation bill is the amendment of various legislation, including the Patent Act, the Trademarks Act, as part of the government’s implementation of its intellectual property (“IP”) strategy.

The Ontario Court of Appeal determines when it is appropriate to vest out a royalty interest as part of an insolvency proceeding

The Importance of the Decision

The challenging commodity price environment will likely bring renewed focus on the rights and obligations that will be impacted if insolvency overtakes exploration and production companies. The British Columbia Supreme Court’s recent decision in Re: Walter Energy Canada Holdings, Inc. is a case in point. The case dealt squarely with the question of whether a mineral royalty “runs with the land” – a question that takes on significantly greater importance in the insolvency context.