An Alberta legal battle over whether creditors take priority over the cleanup of old oil wells has landed at the Supreme Court of Canada with seven justices now tasked with a decision that could have implications for industry and the environment across the country.
The nation’s highest court heard the contentious case on Thursday, centred on the failure of Redwater Energy, a junior oil and gas company that slipped into receivership in 2015 in the wake of the oil price collapse.
Redwater’s receiver wanted to sell the company’s few good wells to pay off the company’s debts, but the Alberta Energy Regulator (AER) said such proceeds should help pay to clean up after Redwater’s inactive wells as required by p…
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