Purchaser Unable to Assert BFPP Defense After Phase 1 Failed to Discover Historic Dumping on Farm Land
A federal court found there were triable issues if a purchaser qualified as a bona fide prospective purchaser (BFPP) because of alleged flaws in a phase 1 environmental site assessment. In Stratus Redtail Ranch LLC v. IBM, 2022 U.S. Dist. LEXIS 8723 (D. Col. 1/18/22), the plaintiff had acquired a 290-acre parcel of agricultural land […]