If you or your business has ever purchased real estate, you are likely familiar with the Phase I Environmental Site Assessment, which investigates the environmental conditions of the real property involved in the transaction.
The Environmental Protection Agency (“EPA”) promulgated its standards for “All Appropriate Inquiries” when it comes to buying real estate with the intent of defining the level of environmental due diligence required to provide the buyer of the property protection under CERCLA’s “innocent purchaser” defense. The criteria for satisfying the innocent landowner defense are set forth in 42 U.S.C. §§ 9607(b)(3) and 9601(35)(B) and 40 CFR 312.20.
The EPA published a new revision of the All Appropriate Inquiries rule, which became effective December 30, 2013. The revision provides parties purchasing real estate property that is potentially contaminated with the option of using the ASTM E1527-13 standard when conducting environmental due diligence. However, the rule does not mandate that purchasing parties use this standard. They have the option of continuing to use the existing ASTM E1527-05 standard.
Some of the more significant changes in the new ASTM E1527-13 standard are:
A new recommendation for the consultant conducting the Phase I to review regulatory files if the target property or adjoining properties appear in a public database listing;
A new requirement to evaluate the potential for hazardous vapors to migrate onto the target property;
A revised definition of Historical Recognized Environmental Conditions (HREC) as a past release that has been addressed to the satisfaction of a regulatory authority or meets unrestricted use criteria. Consequently, conditions considered as an HREC under the former ASTM 1527-05 may be considered as a Recognized Environmental Condition (REC) under the new ASTM 1527-13, triggering additional investigation.
IP Infringement: What Steps Can You Take If You're Affected?
IP infringement occurs when someone uses your intellectual property without your permission or beyond the scope of the permission you granted. Common examples of IP infringement include copying a product’s patented features or using a trademarked logo in a way that is likely to confuse consumers about the source or affiliation of goods or services. […]
Public Allegations, Unfinished Investigation: What New Jersey Businesses Should Do Next
When facing public allegations of wrongdoing, companies should not let the speed of the public conversation dictate the speed of an investigation. An investigation designed to confirm a preferred narrative rather than establish the facts can create serious problems later, particularly if litigation, regulatory scrutiny, or employment claims follow. Key Takeaways When public allegations surface […]
BESS Interconnection: Managing Grid, Cost, and Schedule Risk
For battery energy storage system (BESS) developers, securing equipment and site control is only part of the development equation. A project must also connect to the electric grid, and increasingly, BESS interconnection is one of the biggest sources of schedule, cost, and contractual risk. Key Takeaways This article is Part 3 of our Battery Storage […]
Navigating Director and Officer Liability in Times of Financial Distress
Director and officer liability increases sharply when a company is in financial distress. Decisions that would draw little attention in a healthy business can later be challenged by creditors, shareholders, bankruptcy trustees, and regulators as breaches of fiduciary duty, fraudulent transfers, or oversight failures. Understanding where that exposure comes from, and how to manage it, […]
Before You Buy: Managing Real Estate and Permitting Risk for BESS Projects in New York and New Jersey
For developers pursuing battery energy storage system (BESS) projects, finding the right property is only the beginning. BESS site selection is as much a legal and transactional exercise as a real estate decision, with risk analysis central to the project’s ultimate success. Key Takeaways The core questions for BESS site selection in New York and […]
What Business Owners Get Wrong Before Meeting a Litigation Attorney
What should you expect when meeting a litigation attorney about a business dispute? You should expect to describe the dispute in your own words, hand over the most important documents, flag any deadlines or immediate threats, and leave with a clearer picture of the problem, what information is still needed, and the likely next steps. […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
