Insolvency
The Superintendency of Companies has called a public hearing for January 22, 2026, to assess the recognition in Colombia of judicial orders issued by a Canadian court in the insolvency proceedings of Canacol Energy Ltd. and its subsidiaries. The agency ordered notifications to creditors and interested parties regarding submitted memorials and a financing agreement under review.
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The Superintendence of Societies received notification from the Court of King's Bench of Alberta regarding Canacol Energy's insolvency process and a request to recognize it in Colombia under Law 1116. KPMG, as monitor of the Canadian process, requested suspension of executions against assets of Colombian subsidiaries and protection of their operations. Superintendent Billy Escobar clarified that this does not initiate a local process but international cooperation mechanisms to ensure business continuity.