News & Analysis as of

Insolvency Energy Sector

Bennett Jones LLP

Redwater Reigns: SKCA Affirms Redwater's Applicability After Failed CCAA

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The Saskatchewan Court of Appeal has confirmed that the Supreme Court of Canada’s decision in Orphan Well Association v. Grant Thornton Ltd., 2019 SCC 5 [Redwater], applies in Saskatchewan.  The Court of Appeal also affirmed...more

Bennett Jones LLP

Saskatchewan Court of King's Bench Rejects Rural Municipality's Attempts to Elevate Priority in Receivership

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The Court of King's Bench for Saskatchewan has rejected another attempt by a rural municipality to gain priority in an oil and gas receivership. This follows the recent Alberta Decision in Orphan Well Association v Trident...more

Eversheds Sutherland (US) LLP

Fifth Circuit requires Chapter 15 debtor to litigate in Texas state court

It may be fair to say that non-US entities involved in a chapter 15 case, the mechanism through which US courts recognize foreign insolvency proceedings, do not anticipate having to litigate claims raised in the chapter 15...more

Bennett Jones LLP

Trident Exploration Corp.: Abandonment and Reclamation Obligations Retain a Super Priority Over Municipal Taxes

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The Alberta Court of King's Bench (the Court) has confirmed that the abandonment and reclamation obligations owed to the Orphan Well Association (OWA) and the Alberta Energy Regulator (AER) rank in priority to claims of...more

A&O Shearman

Gas Market Insolvencies in Great Britain: Legal, Regulatory and Insolvency Issues

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Over the past decade there has been an influx of small- and medium-sized entrants to the U.K. gas supplier market, which is supervised by Great Britain’s independent energy regulator, the Office of Gas and Electricity Markets...more

Dechert LLP

International Capital Markets - October 2022, Issue 7: Issuer considerations during difficult market conditions

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As we approach the end of 2022, the international debt capital markets continue to remain challenging due to the successive shocks of the COVID-19 pandemic and ongoing supply chain disruptions, the war in Ukraine and...more

Bennett Jones LLP

Court of Appeal Clarifies Treatment of Asset Retirement Obligations

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On March 25, 2022, the Alberta Court of Appeal issued its decision in PricewaterhouseCoopers Inc v Perpetual Energy Inc, 2022 ABCA 111. Briefly, the Court held that abandonment and reclamation obligations (ARO) of oil and gas...more

Hogan Lovells

Black Swan or new dawn: Why supply chain management is more important than ever

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Supply chains are increasingly vulnerable to a range of risks. In recent years businesses have focussed upon streamlining their supply base to minimise costs. They have sought to reduce inventory to free up working capital...more

A&O Shearman

Virgin Active, Hurricane Energy and the future of the cross-class cramdown

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In this alert, we look at the recent Virgin Active and Hurricane Energy restructuring plans. Stakeholders should continue to see the restructuring plan as an important tool for the implementation of complex restructurings....more

World Law Group

Challenges for Infrastructure Projects in the Current Environment

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WLG's Energy, Infrastructure & Public-Private Partnerships, and International Tax & Private Wealth Groups as discuss challenges with projects amid the pandemic. Moderator: Juan Manuel Mercant, Guyer & Regules - Uruguay ...more

World Law Group

[Webinar] Challenges for Infrastructure Projects in the Current Environment - November 3rd, 8:00 am EST

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Join WLG's Energy, Mining & CleanTech; Infrastructure & Public-Private Partnerships; and International Tax & Private Wealth Groups as they discuss challenges and opportunities with projects amid the pandemic. Challenges...more

McDermott Will & Emery

[Webinar] Distressed Oil & Gas: Survival Tactics and Smart Investing During COVID-19 - June 17th, 12:00 pm - 1:00 pm EDT

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COVID-19 continues to wreak havoc on the global economy, and the oil & gas industry in particular is experiencing significant turmoil as demand has plummeted. Whether you are a company directly dealing with this economic...more

McDermott Will & Emery

[Webinar] Distressed Oil & Gas: Survival Tactics and Smart Investing During COVID-19 - McDermott Will & Emery - June 10th, 12:00...

COVID-19 continues to wreak havoc on the global economy, and the oil & gas industry in particular is experiencing significant turmoil as demand has plummeted. Whether you are a company directly dealing with this economic...more

Hogan Lovells

[Webinar] Things you should know: Mexican insolvency proceedings and their recognition in the U.S. - June 10th, 12:00 pm - 1:00 pm...

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Join Hogan Lovells Finance and Litigation and Employment practice groups on Wednesday, 10 June for a webinar on Mexican insolvency proceedings. Program topics will include: - Automatic stay and provisional relief. -...more

McDermott Will & Emery

[Webinar] Distressed Oil & Gas: Survival Tactics and Smart Investing During COVID-19 - May 27th, 12:00 pm - 1:00 pm EDT

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COVID-19 continues to wreak havoc on the global economy, and the oil & gas industry in particular is experiencing significant turmoil as demand has plummeted. Whether you are a company directly dealing with this economic...more

McDermott Will & Emery

[Webinar] Distressed Oil & Gas: Survival Tactics and Smart Investing During COVID-19 - May 20th, 1:00 pm - 2:00 pm EDT

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COVID-19 continues to wreak havoc on the global economy, and the oil & gas industry in particular is experiencing significant turmoil as demand has plummeted. Whether you are a company directly dealing with this economic...more

Bricker Graydon LLP

[Webinar] Virtual Energy Exchange - May 5th, 2:00 pm - 3:00 pm EST

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Join us for an online briefing of Ohio's energy development and future, especially as it relates to the recent COVID-19 pandemic, presented by Bricker attorneys. Energy companies, policy makers, regulators, business...more

Blake, Cassels & Graydon LLP

Reversal of Gas Cost Allowances Due to Insolvency on the Rise

Alberta Energy has increasingly been targeting insolvent lessees and the historical gas cost allowances claimed by those insolvent companies. Alberta Energy deducts allowances for capital and operating costs and custom...more

Blake, Cassels & Graydon LLP

AER Revises Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals

On December 6, 2017, the Alberta Energy Regulator (AER) released a new edition of Directive 067 (New Directive), dealing with the eligibility requirements for acquiring and holding energy licences and approvals in Alberta....more

Bennett Jones LLP

Key Takeaways from CELF's Annual Jasper Research Seminar

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The Canadian Energy Law Foundation (CELF) held its Annual Jasper Research Seminar in mid-June, the 56th year this world class event has been held in Alberta. Energy practitioners presented on critical legal issues in the...more

Hogan Lovells

Countering counterparty insolvency

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These days, the threat of counterparty insolvency looms over the energy sector: whether it is a natural disaster or precipitous decline in the price of oil, perhaps no industry is more susceptible to the financial decline and...more

King & Spalding

Tokyo Dispute Resolution & Crisis Management Newsletter – January 2017

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Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector - Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all...more

Gray Reed

Operator – Don’t Get Burned by Paying an Insolvent Contractor

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Just received notice of a Texas subcontractor’s mineral lien? DO NOT continue to pay the contractor. He hasn’t paid the subcontractor. Think you owe nothing on the well on which the lien will be filed? Think what you owe the...more

King & Spalding

Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector

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Impact of Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all commodities declined from 2012, with particularly sharp declines during 2015 and into 2016, as supply...more

Locke Lord LLP

[Event] Financial Distress in the Energy Sector: Managing Exposure and Leveraging Opportunities - July 14th, Dallas, TX

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Please join Locke Lord for a complimentary CLE seminar on current issues affecting the energy ?sector. By leveraging the extensive experience our lawyers bring to the table from the energy ?and restructuring & insolvency, we...more

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