November 01, 2014

Transactions Involving Bankruptcy: Avoiding the (Dis)Stress

Pamela K. Elkow

Why write an article focused on transactions involving bankruptcy? Because buying assets out of bankruptcy is different. In more than twenty years as an environmental lawyer, I have worked on a significant number of transactions. In recent years, for obvious reasons, I have found myself working on more bankruptcy deals. While being the environmental attorney on a deal team is always a challenge—dealing with last minute requests to review Phase I site assessments or environmental indemnities or to obtain environmental liability insurance—bankruptcy deals are by nature more complex. In this article, I discuss the reasons these transactions are more challenging and offer strategies I have found to make the whole thing just a little bit easier.

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