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.
The Superintendency of Companies issued Auto 2026-01-015304 on January 15, 2026, scheduling a public hearing for January 22, 2026, at 9:00 a.m. The session focuses on recognizing in Colombia a ruling from the Court of King's Bench of Alberta in Calgary, Canada, dated December 11, 2025. The proceedings concern the foreign insolvency process of Canacol Energy Ltd. and its subsidiaries, including requests to grant guarantees on assets located in the country.
To ensure due process, the Superintendency ordered notifications to creditors and interested parties about the submitted memorials and the proposed financing agreement, which will be evaluated at the hearing. A space will be provided for participants to offer observations before a final decision is made.
Superintendent Billy Escobar highlighted the significance of the call: “the call for a public hearing reflects this Superintendency's commitment to transparency, due process, and the effective participation of creditors and other interested parties in the framework of international judicial cooperation in insolvency matters; this space will allow examination of the scope of recognition of the orders issued by the foreign authority and the proposed financing agreement, ensuring that the decisions adopted harmonize with the Colombian legal framework, safeguard the interests of creditors, and preserve enterprise value”.
This step aims to align decisions with Colombian law, protecting involved interests amid international insolvency cooperation.
