May

    Evolving Standards and Strategies for Environmental Due Diligence: The New ASTM Standards Explained

    12 PM GMT

    Evolving Standards and Strategies for Environmental Due Diligence: The New ASTM Standards Explained
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    On December 30, 2013, the United States Environmental Protection Agency (“U.S. EPA”) enacted a rule reversing its prior position  on the technical standards consultants must follow in order to qualify their clients for protection as bona fide prospective purchasers under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”).  In an earlier Federal Register notice, U.S. EPA proposed to allow consultants and their clients to use either the prior ASTM E 1527-05 standard, or the newer ASTM E 1527-13 standard, when performing Phase I studies to evaluate contamination risks at real properties.

    The Phase I, however, is only a first step, and often just a partial first step, in evaluating environmental issues at potentially challenged properties.  Our panelists will identify the differing concerns and potential liabilities of the various types of clients for whom they work, and discuss how they use due diligence and negotiating strategies in particular situations.  This program is for attorneys who are looking to understand the nuances of representing various types of clients and applying changing standards and strategies to identify and address environmental issues in real estate and corporate transactions.

     

    Our panelists will discuss:

     

    ·         The new ASTM E1527-13 standard, including how the changes will likely affect the scope, cost and timing of environmental due diligence;

    ·         Evolving legal concerns of buyers, sellers and investors and tools to address these concerns, including expanded studies, state reporting requirements and voluntary cleanup programs, environmental insurance, and legal liability versus commercial marketability;

    ·         Specific interests of municipal clients, including evaluating and regulating environmental issues associated with proposed developments within their boundaries; and

    ·         How the dynamics of evaluating and addressing environmental issues may change when one of the responsible parties is a municipal or other government agency.

     

    PANELISTS:

     

    Mathew D. Aigner

    Environmental Resources Management, Rolling Meadows, IL

     

    Nancy J. Rich

    Katten Muchin Rosenman, Chicago, IL

     

    Dennis G. Walsh

    Klein, Thorpe & Jenkins, Chicago, IL

     

    Speakers and topics are subject to change.

    © 2014 American Bar Association. All rights reserved.

    Event Details

    Format

    Web

    Date

    May 21, 2014

    2014-05-21T12:00:00 2014-05-21T13:30:00 Evolving Standards and Strategies for Environmental Due Diligence: The New ASTM Standards Explained Evolving Standards and Strategies for Environmental Due Diligence: The New ASTM Standards Explained

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