In 2017, the Alberta Court of Appeal upheld the lower court’s decision that the BIA prevailed over a conflicting provision in the provincial regulations promulgated by the Alberta Energy Regulator (AER).
The Supreme Court of Canada (“SCC”) has released its decision in Orphan Well Association v.
A five judge majority of the Supreme Court of Canada has allowed an appeal brought by the Alberta Energy Regulator ("AER") and the Orphan Well Association from the decision of the Alberta Court of Appeal in Orphan Well Association v Grant Thornton Limited, 2017 ABCA 124 ("Redwater"). The case has been one of the most closely watched by the Canadian oil and gas industry in decades.
The dispute in Redwater centred on the renunciation of uneconomic oil and gas wells, pipelines and facilities that are subject to provincial abandonment and remediation liabilities.
The Supreme Court of Canada’s Decision in Orphan Well Association v. Grant Thornton Ltd.
On January 31, 2019, the Supreme Court of Canada (SCC) released its decision in Orphan Well Association, et. al. v. Grant Thornton Limited, et. al. – a case commonly known as Redwater.
On January 31, 2019, the Supreme Court of Canada released its decision in Orphan Well Association, Alberta Energy Regulator v. Grant Thornton Limited and ATB Financial.[1] This important decision may have profound implications, potentially limiting the ability of oil and gas producers to secure credit and impairing the effectiveness of the insolvency system where debtors have significant regulatory obligations.
The Alberta Energy Regulator's Statutory Power is Not in Conflict With the Bankruptcy and Insolvency Act
Today, the Supreme Court of Canada released its decision in Orphan Well Association v. Grant Thornton Ltd., known as Redwater.
On January 31, 2019, the Supreme Court of Canada released its much-anticipated decision in Orphan Well Association et al. v. Grant Thornton Limited et al., 2019 SCC 5, commonly referred to as “Redwater”. Specifically, Redwater clarifies the priority as between environmental obligations and those afforded to secured creditors in insolvency proceedings.
On January 31, 2019, the Supreme Court of Canada released its much-anticipated decision in Orphan Well Association et al. v. Grant Thornton Limited et al., 2019 SCC 5, commonly referred to as “Redwater”. Specifically, Redwater clarifies the priority as between environmental obligations and those afforded to secured creditors in insolvency proceedings.