Open AccessNavigating the Quagmire of Oil and Gas Transactions with Income Trusts
Author(s) -
Trudy Curran,
Pat Mcguire
Publication year - 2015
Publication title -
alberta law review
Language(s) - English
Resource type - Journals
eISSN - 1925-8356
pISSN - 0002-4821
DOI - 10.29173/alr352
Subject(s) - database transaction , transaction cost , business , fossil fuel , asset (computer security) , focus (optics) , energy law , petroleum industry , economics , public economics , law , finance , political science , environmental law , ecology , physics , computer security , computer science , optics , biology , programming language , paleontology
This article examines the current trend towards incometrust conversion in the oil and gas industry and the various business and legal implications which arise as a result. Documented is the history ofthe development of the income trust, various methods in which income trusts are managed structures in which they exist, methods ofconversion, and lax treatment. The various implications of income trusts to the oil and gas lawyer are then discussed, with a focus on asset transactions and multi-party deals, as well as the concerns arising for counter parties to a transaction with a trust entity. Finally, evolving issues affecting income trusts are addressed.