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Publication | April 2016
Alberta’s oil and gas regulatory regime has once again clashed with the Companies’ Creditors Arrangement Act (“CCAA”). In CCAA proceedings initiated by Verity Energy Ltd. (“Verity”), the Albert Court of Queen’s Bench held that the Alberta Energy Regulator (“AER”) was estopped from refusing to transfer licenses for certain oil and gas assets, notwithstanding the fact that the AER has a statutory discretion to approve the transfer of such licenses.
The Court held that the estoppel arose from the AER’s counsel’s comments to the Court at Verity’s application for a Sale Approval and Vesting Order when counsel indicated he was supporting the application for the transfer of assets without also disclosing either to Verity or the Court that the AER intended to impose additional conditions on the license transfers.
Decree No. 228 of 2019 (Decree 228/2019) came into effect on 27 August 2019, which simplifies and revokes previous decrees of the Ministry of Employment (MoE) to widen the type of job titles allowed for foreign professionals to work in Indonesia.
The Indonesian Investment Coordinating Board (BKPM) enacted BKPM Regulation 5/2019 to amend last year’s implementing regulation on guidelines and procedures for licensing and facilities under Indonesia’s foreign direct investment (FDI). The new regulation particularly includes requirements on divestment obligations for foreign direct investment companies.
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