Disclosure of Environmental Liabilities

NYSDEC Adds New Categories of Sites To Database To Chagrin of Some Property Owners

Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities, Environmental Due Diligence, Hazardous Waste, New York Brownfield Cleanup Program, oil spills / By

The New York State Department of Environmental Conservation (NYSDEC) recently announced that it had added approximately 1,950 sites to its Environmental Site Remediation Database Search database of sites that are subject to one of the agency’s remedial programs. The  NYSDEC said it was adding these additional sites to facilitate real estate transactions and address the […]

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NY Case Illustrates Dangers of Completing Environmental Questionnaires

Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities, Environmental Due Diligence / By

The decision in Revell v Guido, 956 N.Y.S.2d 343 (App. Div-3rd Dept. 2012) is another example of the limits of “as is” contracts when it comes to environmental issues. The doctrine of caveat emptor is still valid in commercial transactions but may not insulate sellers from liability when they make misstatements in environmental questionnaires or

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Ct Rules Indiana Real Property Transfer Law May Be Triggered By Historic Uses

Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities, Environmental Due Diligence / By

What started out as a toxic tort lawsuit has evolved into a precedent-setting case involving the Indiana Real Property Transfer Law (RPTL) with a potentially fascinating Racketeer Influenced and Corrupt Practices Act (RICO) ruling waiting in the wings. The legal trade press focused much of its attention on the RCRA 7002 rulings handed down by

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Settlement Reached in Securities Class Action Suit For Inadequate Environmental Disclosure

bankruptcy, Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities / By

The 2009 bankruptcy filing of Tronox, Inc. has spawned some interesting litigation. A trial commenced in May in the bankruptcy court for the Southern District of New York where a Litigation Trust formed as part of the Tronox reorganization plan is seeking $25B in damages from Kerr-McGee, a subsidiary of Anadarko Petroleum. Tronox, a manufacturer

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NJ Lawyers Raise Concerns About Transparency of LSRP Program

Disclosure of Environmental Liabilities, Environmental Due Diligence, NJ Spill Act / By

On May 7, 2012, the New Jersey Site Remediation Reform Act, N.J.S.A. 58:10C-1 et seq. (SRRA) became fully effective. With limited exceptions, all site remediation projects in the state of New Jersey regardless of when work began must proceed under the supervision of a Licensed Site Remediation Professional (LSRP) and without New Jersey Department of Environmental

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Vapor Intrusion and Statutes of Limitations

Disclosure of Environmental Liabilities, vapor intrusion / By

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

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District Ct Holds Vapor Intrusion Is Imminent and Substantial Endangerment

common law, Disclosure of Environmental Liabilities, Environmental Due Diligence, Hazardous Waste, vapor intrusion / By

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

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Contamination at Heart of Litigation Over Failed Subdivisions

common law, Disclosure of Environmental Liabilities, Environmental Due Diligence, Hazardous Waste, Lender Liability / By

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.

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Bank Not Liable for Failing To Disclose Environmental Issues At Foreclosure Sale

Disclosure of Environmental Liabilities, Environmental Due Diligence, Lender Liability / By

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

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Non-Reliance Clause Bars Walk-Away Bidder From Recouping Diligence Costs

Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities, Environmental Due Diligence / By

The Delaware Supreme Court ruled that a bidder that declined to proceed with a $170 million could not recover recoup $1.2 million in due diligence and negotiation costs. In RAA Management, LLC v. Savage Sports Holdings, Inc., 2012 Del. LEXIS 271 (Del. 5/18/12) , investment fund RAA Management (RAA) was invited by an investor bank

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