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What is a Bona Fide Prospective Purchaser (BFPP)?

Fri Oct 24th, On Environmental Law, by

The risks associated with buying contaminated commercial property can be substantial. Under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), buyers can face substantial liability for cleanup and remediation costs regardless of whether they were aware (or should have been aware) of an environmental hazard on the property. Fortunately, prospective buyers have a variety of options to mitigate these risks, including establishing their status as a bona fide prospective […]

Pre-Enforcement Review in Environmental Law: When Companies Can (and Should) Challenge EPA Interpretations

Fri Oct 17th, On Environmental Law, by

Last month, we published an article on the U.S. Supreme Court’s recent decision in the case of McLaughlin Chiropractic v. McKesson. While this wasn’t an environmental case, as we discussed in the article, it nonetheless has the potential to significantly impact environmental enforcement in some cases. This is because of its implications for pre-enforcement review of the U.S. Environmental Protection Agency’s (EPA) interpretation of certain federal environmental laws. This month, […]

Can Lenders Be Liable for Property Contamination? What Banks and Borrowers Should Know

Tue Sep 30th, On Environmental Law, by

Under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), various parties can potentially be held liable for cleanup costs (among other costs) associated with property contamination. This is true regardless of whether these parties were the original source of the contamination at issue. However, various exemptions and defenses to CERCLA liability may apply—including the secured creditor defense for lenders that finance the acquisition of contaminated properties. Learn more from […]

When Contamination is Discovered Mid-Transaction: Legal Obligations and Smart Next Steps

Tue Sep 23rd, On Environmental Law, by

Environmental due diligence is a key aspect of any commercial real estate transaction. In an ideal scenario, the buyer’s environmental due diligence will confirm (with a reasonable degree of certainty) that there are no contamination issues associated with the property, and this will allow all parties involved to move forward with confidence. Buyers can engage a California environmental attorney to assist with their due diligence—including conducting Phase I and Phase […]

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