environmental indemnity

CMBS Special Servicer May Not Recover VI Test Costs Under Environmental Indemnity

Earlier this year, we discussed   the federal district ruling in Orix Capital Markets, LLC v Cadlerocks Centennial Drive, LLC, 2013 U.S. Dist. LEXIS 48424 (D. Mass. 4/2/13) where a special servicer was allowed to pursue a guarantor despite the presence of an environmental insurance policy and was awarded over $100K in environmental investigation costs. This […]

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SC Appeals Ct Affirms Judgment To Golf Course Developer But Reduces Damages Award

A South Carolina appeals court affirmed a jury verdict that a seller of a 239-acre golf course in Blythewood, South Carolina had breached an environmental indemnity but reduced the damages award by the jury in Ginn-LA University Club Ltd. v. Amelia Capital III, LLC,2013 S.C. App. Unpub. LEXIS 95 (Ct. App. 2/13/13). In this case,

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Insurance Requirement Allows Voidable Indemnity Clause To Be Enforceable

Can a party be indemnified for its own negligence? In many states, such provisions are void as against public policy. Other some states allow enforcement of indemnification for the indemnitee’s own negligence when the clause expressly references “negligence.” Likewise, many states will enforce indemnities where the indemnified party is strictly liable because of its status

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