Newspaper article The Canadian Press

Alberta Energy Regulator Says Will Appeal Redwater Case to Supreme Court

Newspaper article The Canadian Press

Alberta Energy Regulator Says Will Appeal Redwater Case to Supreme Court

Article excerpt

AER to appeal Redwater case to Supreme Court

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CALGARY - The Alberta Energy Regulator said Friday it will appeal to the Supreme Court of Canada a case that pits creditors' rights to oil and gas assets against environmental liabilities.

The lawsuit involving bankrupt Redwater Energy Corp. has been closely watched as a precedent-setting case, as financial difficulties continue to afflict the oil and gas industry after more than two years of low commodity prices.

On Monday, the Alberta Court of Appeal upheld in a 2-1 decision a lower court's ruling in favour of Grant Thornton, Redwater's trustee in bankruptcy, and its lender, ATB Financial, who wanted to sell off its productive wells to pay creditors and leave the others for the industry-supported Orphan Well Association to remediate. …

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