Thank you, Mr. Speaker. Certainly, I have looked at some of the commentary on this very important case. As Members may know, this worked its way through the court system up to the Supreme Court of Canada and had to do with the obligations when a company goes bankrupt. In essence, they said, and I am quoting from a commentary, "After going bankrupt, an oil and gas company has to fulfill provincial environmental obligations before paying anyone it owes money to, the Supreme Court has ruled." This is an important case because it will affect all companies and also affect those that lend to companies.

The Department of Lands has a coordinating role across the GNWT and the boards to ensure that the GNWT holds full securities across various authorities for environmental liabilities. The department has looked at the Supreme Court of Canada decision and is working with the Department of Justice to develop a full analysis. This is an important case that likely will have ramifications all across Canada. We are looking at the case. The decision date on it was only January 31^st, so further analysis is needed. Thank you.