The company announced that the Alberta Court of Queen's Bench has dismissed all but one of the claims filed by PwC (trustee in the bankruptcy of Sequoia Resources). While the Court did not find the test for summary dismissal relating to whether the transaction was an arm's length transfer under section 96(1) of the Bankruptcy and Insolvency Act, on the balance of probabilities, the court is reported to have referred to the transaction as "arm's length,” on several occasions.
16 Aug 2019
FLASH: Alberta Court of Queen’s Bench decision
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FLASH: Alberta Court of Queen’s Bench decision
Perpetual Energy Inc. (PMT:TSE) | 0 0 0.0%
- Published:
16 Aug 2019 -
Author:
Robert Fitzmartyn -
Pages:
2
The company announced that the Alberta Court of Queen's Bench has dismissed all but one of the claims filed by PwC (trustee in the bankruptcy of Sequoia Resources). While the Court did not find the test for summary dismissal relating to whether the transaction was an arm's length transfer under section 96(1) of the Bankruptcy and Insolvency Act, on the balance of probabilities, the court is reported to have referred to the transaction as "arm's length,” on several occasions.