News & Analysis as of

Receivership Oil & Gas

Gray Reed

Federal Receiver Allowed to Abandon Texas Pipeline

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Securities and Exchange Commission v. The Heartland Group Ventures LLC et al. explains what a receiver under federal law has the right to do. Much like Nick Saban’s offense against a certain team, she can do just about...more

Bennett Jones LLP

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

Bennett Jones LLP on

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

Bennett Jones LLP

Entitlement to Production Revenues Between the Effective Date and Closing in Insolvency Vesting Orders

Bennett Jones LLP on

One of the main benefits to a purchaser who buys oil and gas assets in a proceeding under the Companies' Creditors Arrangement Act or a receivership is the near-absolute quieting of title via a "vesting order." In Manitok...more

Bennett Jones LLP

Can an Insolvency Court Extinguish Interests in Land Through Vesting Orders?

Bennett Jones LLP on

The Ontario Court of Appeal recently released the second of two highly anticipated decisions stemming from the receivership proceedings of Dianor Resources Inc. The first decision clarified the test used to determine when a...more

Bennett Jones LLP

A Producing Royalty as an Interest in Land: The Alberta Court of Queen's Bench Follows Dianor

Bennett Jones LLP on

Holders of royalties in oil and gas and other minerals should take note of the recent decision of the Alberta Court of Queen's Bench in Manitok Energy Inc. (Re), 2018 ABQB 488 [Manitok], in which the Alberta Court followed...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

Pillsbury Winthrop Shaw Pittman LLP

Situs of Debt Owed under Letters of Credit

Supreme Court of England clarifies terms for enforcement of international arbitral awards in Taurus Petroleum Limited v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq [2017] UKSC 64 - The English...more

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