Environmental Due Diligence

NJ Appeals Court Rules ISRA Does Not Provide Basis for Voiding Sale of Tax Lien

The New Jersey Industrial Site Recovery Act (“ISRA”, f/k/a Environmental Cleanup Resonsibility Act or “ECRA”) requires industrial establishments to undergo environmental investigation and cleanup when they are to be closed or transferred. I have always felt that if we had a national ISRA law, the country would have a lot fewer brownfield sites. One of […]

NJ Appeals Court Rules ISRA Does Not Provide Basis for Voiding Sale of Tax Lien Read More »

Acquisitions Bring CERCLA Liability to Banking Conglomerate

From a purely legal standpoint, the recent ruling In Tennessee v. Roane Holdings Ltd., 2011 U.S. Dist. LEXIS 143703 (E.D.TN 12/14/11) was not unusual. The court ruled on a motion to dismiss that a party who had entered into an administrative order on consent could not bring a cost recovery action under CERCLA section 107

Acquisitions Bring CERCLA Liability to Banking Conglomerate Read More »

Foreclosing Banks Increasingly Using Environmental Insurance For Sales Risks

As the nation slowly lifts itself out of the effects of the Great Recession, lenders are beginning to increase the pace of foreclosures on commercial properties. The volume of foreclosures is likely to significantly increase during the next few years as the loans that were originated during the height of the credit bubble become due.

Foreclosing Banks Increasingly Using Environmental Insurance For Sales Risks Read More »

No Administrative Claim For Hotel Damaged By Methane from Bankrupt Landfill Operator

It seems like there were a lot of cases in 2011 involving commercial properties impacted by methane gas from former landfills. A recent case involved a novel question if the owner of a hotel damaged by methane gas migrating from a landfill could seek administrative claim status in a chapter 7 bankruptcy case. In the

No Administrative Claim For Hotel Damaged By Methane from Bankrupt Landfill Operator Read More »

A Lawyer, an Underwriter and an Appraisor-An Update

The title of this post sounds like a teaser to a bad joke but unfortunately it refers to the latest round of motions in two sprawling lawsuits involving a defunct planned community that was to be developed on what proved to be a part of a world war 2 bombing practice range. The defendants include

A Lawyer, an Underwriter and an Appraisor-An Update Read More »

Ct Upholds Limitation of Liability in Consultant Negligence Case

When retaining environmental consultants, one of the key issues to review in the consultant’s standard terms and conditions is the limitation of liability (LOL) clause. This clause frequently seeks to cap the consultant’s liability at the amount of its fees. Because consultants are usually expected to carry at least $1MM in liability coverage,  clients often want consultants to be liable

Ct Upholds Limitation of Liability in Consultant Negligence Case Read More »

Study Analyzes Trends In Key Terms in M&A Deals

Shareholder Representative Services (SRS) recently issued the results of its M&A Deal Terms Study covering 196 private-target acquisition agreements. The deals closed between July 2010 and September 2011. The 2011 study compares results against an earlier study that encompassed deals from July 2007 to July 2010. Some of the interesting findings are: use of escrows

Study Analyzes Trends In Key Terms in M&A Deals Read More »

NY State Court Affirms Broad Liability for Owners of Property With Old USTs

Article 12 of the New York State Navigation Law imposes strict liability on “dischargers” of petroleum. The term “discharger” has been broadly construed so that it can encompass owners of property with abandoned or inactive underground storage tanks (USTs) even where the owners never used the tanks. A recent New York State appeals court illustrates

NY State Court Affirms Broad Liability for Owners of Property With Old USTs Read More »

Confusion Over Scope And Timing of RCRA Cleanup Leads to Potential Liability for Brownfield Developer

Last year, the brownfield community was rattled by the Ashley II decision of United States District court for the District of South Carolina holding that a brownfield developer failed to comply with the requirements of the Bona Fide Prospective Purchaser defense. The court ruled the developer did not comply with its post-closing continuing care obligations

Confusion Over Scope And Timing of RCRA Cleanup Leads to Potential Liability for Brownfield Developer Read More »

State Court Reduces Damages of Condo Purchaser Because It Failed To Conduct Environmental Investigation

In the wake of the Great Recession, many foreign investors are buying bulk quantities of condominium units at what they perceive to be distressed prices for projects located in certain gateway cities such as Miami and New York. Frequently, these condominium projects are developed on brownfield sites. In phased transactions where multiple buildings are constructed

State Court Reduces Damages of Condo Purchaser Because It Failed To Conduct Environmental Investigation Read More »

Scroll to Top