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Yukon (Government of) v Yukon Zinc Corporation, 2020 YKSC 16, which opened the door to partial termination of agreements in a receivership, an action generally considered to not be permitted in the past. The effect of which on the facts before the Court, was to provide the receiver with access to certain equipment for the purpose of carrying out environmental reclamation at a zinc-silver-lead mine known as the Wolverine Mine at a cost less than required under the lease agreement.
On March 5, 2021, the Court of Appeal issued a unanimous decision overturning the decision permitting the partial termination and made other findings which have provided some clarity regarding the priority of environmental obligations in a receivership.
On January 25, 2021, the Alberta Court of Appeal (the ABCA)
released its reasons in
PricewaterhouseCoopers Inc. v Perpetual
Energy Inc., 2021 ABCA 16 (
Perpetual Energy). While
the issue before the ABCA was of a preliminary nature
namely whether the claims of the trustee in bankruptcy (the
Trustee) should be summarily dismissed or struck as not disclosing
a cause of action the legal principles considered by the
ABCA extend far beyond the immediate parties and include broader
questions around the nature and role of abandonment and reclamation
obligations (AROs) after bankruptcy, the scope of a trustee in
bankruptcy s duties to third parties, the duties of a director