Author: Natasha Wood

Natasha is an Associate in Burnet, Duckworth & Palmer’s energy group. She assists with mergers, asset and share acquisitions and dispositions, and joint ventures for oil and gas companies. Natasha also acts for business and creditors of companies in financial distress, purchasers of distressed assets and court-appointed officers in insolvency proceedings.

Vesting Off Interests in Land – The Latest Dianor Decision

By Natasha Wood

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.