Author: Ashley Weldon

Ashley is a Partner in Burnet, Duckworth & Palmer’s energy group. She provides legal guidance to clients on an array of corporate matters including acquisitions, mergers and divestures in the oil and gas sector, gives advice on joint venture arrangements and other business structures, as well as negotiates commercial agreements for upstream and midstream oil and gas matters.

Vesting Off Interests in Land – The Latest Dianor Decision

By Ashley Weldon

On July 5, 2019

In Oil & Gas

By: Ashley Weldon & Tasha Wood

PDF Version: Vesting Off Interests in Land – The Latest Dianor Decision

Decision Commented On: Third Eye Capital Corporation v Ressources Dianor Inc./Dianor Resources Inc., 2019 ONCA 508 (CanLII)

The Ontario Court of Appeal has released its much anticipated second decision in Third Eye Capital Corporation v Ressources Dianor Inc./Dianor Resources Inc.(Dianor2019). The issue squarely before the Court in this case was whether a vesting order granted in a receivership proceeding could extinguish a third party’s interest in land in the nature of a gross overriding royalty (GOR). The Court concluded that it had the jurisdiction to do so. This appears to be the first case in Canada to reach this conclusion in the context of a GOR.