October 20, 2016
Energy companies facing insolvency are presenting an increasing problem for the province of Alberta in terms of regulatory compliance and abandoned well cleanup. Corporate Restructuring and Advisory partner David Bish was sought by CBC News to provide insight on the relationship between environmental rules and bankruptcy law, in particular, if they can work in harmony. Below is an excerpt of the article.
"The [lower] court found there was a conflict between federal insolvency law and operation of this provincial regime," said David Bish, an insolvency lawyer with Torys.
"Essentially, the AER said the court was wrong, that there is no operational conflict such that the court had to pick one trumping the other. They seem to be suggesting that the two could exist in harmony."
To read the full article, click here.