Managing Environmental Risk in Business Transactions and Operations

Environmental liabilities are often among the most significant risks facing those involved in contaminated lands transactions, and those involved in the governance or management of businesses that own or operate on such lands. However, these risks are frequently misunderstood and undervalued by vendors, purchasers, lessors, officers, directors, shareholders, and their lawyers - until they materialize. Recent  regulatory enforcement trends and case law have created a heightened risk of exposure for those having any degree of involvement with contaminated properties. The ‘polluter pays’ principal has given way to a broader environmental protection regime that is more concerned with finding a pocket to pay than determining who is responsible. This has brought a broader group of persons into the liability loop than might otherwise have been expected.