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Alberta Court Approves Sale Of Oilsands Project In Absence Of A Formal SISP, Over Objections Of Substantially All Creditors, With Leave To Appeal Denied - Insolvency/Bankruptcy/Re-structuring

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On October 8, Greenfire Oil and Gas Ltd. and Greenfire
Hangingstone Operating Corporation (collectively, Greenfire) each
filed a Notice of Intention to Make a Proposal pursuant to section
50.4(1) of the
Bankruptcy and Insolvency Act (Canada), RSC
1985, c B-3, as may be amended from time to time (the BIA) (such
proceedings, referred to herein as the NOI Proceedings) and Alvarez
& Marsal Canada Inc. was appointed as Proposal Trustee (the
Proposal Trustee) of Greenfire. Greenfire is focused on oilsands
development and production and their primary asset is a ....

Poonam Dharmani , Justicems Paperny , Faisal Khan , Tariq Mahmood , Haleh Peiravi , Zahra Ahmadi Naghdehi , Mohammad Ahadzadeh , Mehran Pooladi Darvish , Justice Db Nixon , Mohsen Zadeh , Justice Paperny , Mehran Joozdani , Elham Vakili Azghandi , Afshin Shameli , Ramin Jalalpoor , Ramin Jalalpoor , Behrokh Azarian , Parham Minoo , Layla Amjadi , Justice Nixon , Firooz Abbaszadeh , Homayoun Hodaie , Taher Shabani Rad , Mandana Rezaie , Partnership Trafigura , Energy Regulator ,