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The Effect of Well Abandonment and Reclamation Obligations for the Valuation of Matrimonial Property

Source: ABlawg

The Effect of Well Abandonment and Reclamation Obligations for the Valuation of Matrimonial Property




By: Nigel BankesPDF Version: The Effect of Well Abandonment and Reclamation Obligations for the Valuation of Matrimonial Property Case Commented On: Walker v Walker, 2017 SKQB 195 (CanLII) Judicial decisions on the legal nature of abandonment and reclamation obligations may arise in the strangest of ways. Take this matrimonial property case, for example, in which Mr. Walker (Darcy) was seeking to argue that his assets should be discounted on the basis that a small oil and gas company (Outback) that he controlled had net abandonment and reclamation liabilities. Part of the challenge that he faced in making this argument was of course that the liabilities in question were the liabilities of the corporation. While a director or controlling mind of a corporation might ordinarily take some comfort from this state of affairs, in this case counsel for Darcy tried to suggest that his client would inevitably face personal liability under the…



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