b'ORPHAN WELLSresource play through the Redwateranalysis in selecting whether and howwith the further expense of the subsequent lens by assuming that environmentalto enforce on its security. As a result ofbankruptcy that was laid on top of the remediation obligations may need toRedwater, the numbers in this cost-benefitreceivership) if that secured creditor be met before even the most senior ofanalysis may now look very different thanhad real reason to fear that its recoveries secured creditors sees any recoveries. Thethey did in a pre-Redwater world. would be negative? Factually, while some most prudent amongst us may even go soConsider, for example, whether theof the debtors wells in Redwater were far as to consider applying this worst-casesecured creditor in Redwater would haveoperational and profitable, the majority scenario to any business with the potentialgone to the significant expense of applyingwere spent and burdened with significant for material and regulated environmentalfor a court-appointed receiver (togetherremediation obligations that far exceeded remediation liabilities. their value. By all reported accounts, the .it is going to be challenging for Judges of first instance and appeal to ignore the Supreme Courts implicit thematic messageSecure your clients a that the facts and law yieldbetter credit ratingto the Redwater outcome.Consider all the industries in which a regulators permission is required as a practical matter before the transfer of a license can occur, and now add the very real possibility that such permission could be withheld validlyeven in a formal insolvency proceedingin the face of outstanding environmental obligations. On top of that, consider all the industries where such regulatory permission is not currently required, but, given both the general and industry-specific trends of increased environmental scrutiny, may be required in the potentially not-too-distant future. From mining to farming, and gas stations to even so-called clean energy,The foundation of personal finance is a good the combinations and permutations are many. And while Redwater has yet to becredit rating. A Home Trust Secured Visa *cardapplied to these broader contexts, lenders. can help build that foundationand insolvency professionals now have reason to ask themselves if their next fileFor more information about our Secured Visa card :has the characteristics that could turn itVisit hometrust.ca/securedvisa into Redwater 2.0. Email visa@hometrust.ca2. THERE WILL BECall 1-888-281-7793 Monday to Friday, 8 a.m. to8 p.m. ETINCREASED USE OF *Visa Int./Home Trust Company, licensed user of mark.PRE-APPOINTMENT OR LIMITED APPOINTMENT SNIFF TESTS H OME T RUSTWe all know that when a secured creditor advances a loan to a borrower that laterMORTGAGES|CREDIT CARDS|RETAIL CREDIT|DEPOSITSencounters financial difficulties, thehometrust.ca/securedvisasecured creditor faces a cost-benefitVolume 19 Issue 2 Rebuilding Success 195.26.2015_Visa_PrintL_ENG-CAIRP_Visa ad_4.6250 x 7.indd 1 5/26/2015 11:50:36 AM'