A majority of justices found that the individual mandate of the Affordable Care Act violated the Commerce Clause of the U.S. Constitution in National Federation of Independent Businesses v Sebelius. The Commerce Clause is the underpinning for the jurisdiction of the federal government to enact and enforce environmental laws such as CERCLA and RCRA. Thus,
Obamacare Survives But Will CERCLA or RCRA? Read More »
Last week, we discussed due diligence for transactions involving purchases of equity interests in entities that own property that are in technical default of the mortgages. This post discusses potential environmental liability for fractional ownership interests in the underlying property. First year saw students are taught in Real Property Class that property ownership consists of
Environmental Liability and “Fractional” Property Interests Read More »
Both houses of the New York Legislature passed bills that would extend the sunset date for the brownfield tax from March 31, 2015 to December 31, 2015. Parties remediating sites in the Brownfield Cleanup Program (BCP) must obtain certificates of completion (COC) from the NYS Department of Environmental Conservation (NYSDEC) by that date to be able
NY Legislature Extends Brownfield Tax Credits Read More »
Many real estate fortunes were amassed following the savings and loan (S&L) crisis of the late 1980s when the Resolution Trust Corporation (RTC) sold loan portfolios owned by defunct S&L entities at what later proved to be distressed pricing. At the depth of the Great Recession, distressed asset firms quickly raised huge amounts of capital
Due Diligence and “Recapitalization” Transactions Read More »
Statutes of limitations (SOL) establish the time period for bringing a cause of action. SOLs are designed to encourage resolution of disputes within a reasonable period of time before facts or evidence is lost through the passage of time, death or disappearance of witness as well as the loss of memory. The SOL will differ
Vapor Intrusion and Statutes of Limitations Read More »
The recent decision in Sisters of Notre Dame De Namur v. Mrs. Owen J. Garnett-Murray, 2012 U.S. Dist. LEXIS 78747 (N.D. Cal. 6/6/12) is the latest example of how vapor intrusion has become a game changer for toxic tort and RCRA litigation. Vapor intrusion was the only potential exposure pathway since groundwater was not used
District Ct Holds Vapor Intrusion Is Imminent and Substantial Endangerment Read More »
The Great Recession caused hundreds of residential development projects to ground to a halt. Not surprising, these failed projects have spawned lots of litigation. An interesting Maryland lawsuit involves allegations of fraud and misrepresentation of environmental issues at a development site, and has ensnarled a foreclosing lender. In U.S. Home v Settler’s Crossing, 2010 U.S.
Contamination at Heart of Litigation Over Failed Subdivisions Read More »
In Rhima v JPMorgan Chase Bank, 2012 U.S. Dist.LEXIS 70492 (N.D.Tx. 5/18/02), plaintiff was the successful bidder at a foreclosure auction for a warehouse property. The advertised terms and conditions of the foreclosure sale offer indicated that bidders would be provided with environmental reports and access to the property for inspection but the sale was
Bank Not Liable for Failing To Disclose Environmental Issues At Foreclosure Sale Read More »
Centennial Bank v Dever Development Group, 2012 U.S, Dist. LEXIS 4483 (N.D. Fla. 1/13/12) is a short case with lessons for foreclosing lenders.The opinion is short on facts but it appears the plaintiff bank is a successor to a bank was taken over by the FDIC. The plaintiff sought to foreclose on property that had
Conservation Easement Complicates Foreclosure Read More »
