Canacol Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code

Executive Summary

• Canacol Energy Ltd. and certain subsidiaries filed for relief under Chapter 15 of the U.S. Bankruptcy Code in the Southern District of New York, seeking recognition of its Canadian CCAA restructuring proceeding.
• The U.S. Bankruptcy Court granted provisional relief on an unopposed basis at a hearing on November 20, 2025, and set a further hearing for the foreign representative’s recognition motion on December 11, 2025.
• KPMG Inc. has been appointed as the authorized foreign representative; legal representation is provided by Pachulski Stang Ziehl & Jones LLP.

Key Details

• Filing: Chapter 15 petition filed to obtain U.S. court recognition of the Canadian CCAA proceeding (Court of King’s Bench of Alberta).
• Purpose: Protect U.S.-based assets and coordinate U.S. and foreign court actions while a restructuring plan is developed under the CCAA.
• Provisional Relief: Granted by the U.S. Bankruptcy Court on November 20, 2025; includes a stay of creditor actions in the United States.
• Future Hearing: Recognition motion scheduled for December 11, 2025 at 11:00 a.m. ET.
• Foreign Representative: KPMG Inc., acting as authorized foreign representative for the Chapter 15 cases.
• Legal Counsel: Pachulski Stang Ziehl & Jones LLP representing the foreign representative in U.S. proceedings.

Notable Quotes

(No executive quotes were provided in the release.)