Environmental liability is often driven by status, rather than fault; i.e. owners and operators have strict and (sometimes) joint and severe liability for hazardous substances on or under the property. Since the liability can be catastrophic, environmental due diligence is in order for every transaction involving land - developed or not - or ongoing industrial operations.
This presentation provided an overview of:
- Superfund and the game changing BSNF case
- Parent and successor company issues
- Effective due diligence and protective strategies—Phase 1 or 2 assessments, qualifying for defenses using EPA's "all appropriate inquiry" rule and prospective purchaser agreements
- Documentation issues from the perspectives of purchasers. sellers and lenders
- Ancillary issues that can limit the economic value of the acquisition, such as wetlands and water rights
View a recording of the presentation, here.