Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp., Receivership

Planet Energy (Ontario) Corp. and Planet Energy (B.C.) Corp. (collectively “Planet Energy”), a natural gas and electricity retailer with residential and commercial customers, was placed in interim receivership on June 8, 2023, on application by All Communications Network of Canada (“ACN”). Planet Energy owes ACN approximately $29MM as a result of an arbitral award which was ordered to be enforced by the Ontario Superior Court of Justice and affirmed on appeal. Planet Energy previously filed NOIs on May 11, and ACN agreed to a brief extension of time to the NOI proceedings so long as a receiver was appointed. KSV was appointed interim receiver, represented by DLA Piper. Stikeman Elliott is counsel for Planet Energy. Richter is the Proposal Trustee, represented by Chaitons.

By: Dina Milivojevic