The Alberta Court of Queen’s Bench decision in Redwater Energy Corporation Re, 2016 ABQB 278, written by Chief Justice Neil Wittmann, clarifies that the provisions of the Bankruptcy and Insolvency Act (BIA) addressing the environmental liability of trustees render certain provisions of provincial regulatory legislation addressing wells and pipelines inoperative to the extent they conflict with the BIA.
This is a significant decision that will directly impact the conduct of oil and gas receiverships and bankruptcies in Alberta, and affect the position of secured creditors in those proceedings.
You can find Dentons’ commentary on this decision in our recent Insights publication found here.
