General Business Commercial Real Estate Environmental

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Historic contamination in Romania under sale–purchase agreements

General Context - Historic contamination receives a lot of attention in Romania, particularly in the process of privatizing formerly state owned enterprises. Some of these enterprises are taken over as ongoing...more

Why You Should Continue to Pay Attention to PACE

With commercial property owners and tenants still seeking sustainable building designs that incorporate energy efficiency or green building features, Property Accessed Clean Energy (PACE) financing will continue to rightfully...more

Have You Got the Right EPCs?

We were reading in the Property Week (27th May edition) just how unreliable an EPC rating can be. This matters because from 2018 when new minimum energy efficiency regulations (MEES) start to apply, investors won’t be able...more

Compliance Audits as part of Environmental Due Diligence - It’s more than just a Phase

When Borrowers and their lenders think about environmental due diligence, they immediately focus on Phase I/Phase II/ Environmental Site Assessments. That’s a good thing, and is an essential requirement when acquiring real...more

Oil, Gas and Mineral Companies Take Note: Agreements Purporting to “Run with the Land” may be Rejected in Bankruptcy

A recent bankruptcy court decision from the influential Southern District of New York permitted a debtor to reject executory contracts with midstream gathers as an exercise of sound business judgment. In In re Sabine Oil &...more

Selling Property “As Is” Won’t Protect Seller From Superfund Liability

Everyone is familiar with the two little words - “as is” - that pop up in real estate contracts. The “as is” clause is a means of allocating risk between seller and buyer. Generally, a seller who sells property “as is” will...more

The Best Protection: Safeguards in Purchasing Distressed Oil and Gas Assets

In the current environment of depressed prices for oil, natural gas and related liquids, oil and gas wells, leases and properties are coming on to the market for sale. These assets typically are made available through either...more

Maryland Environmental Reporting Regulations On Hold For Now

Property owners and developers in Maryland have dodged another bullet, at least for now, with respect to their environmental reporting obligations. On October 31, 2014, the Maryland Department of Environment (“MDE”) proposed...more

AIG Bows Out of the Pollution Legal Liability Market

On January 26, 2016, insurance giant AIG announced a major restructuring designed to make it a “more profitable and focused insurer.” Apparently as a result of these efforts to streamline and slim down, AIG has begun...more

Global Private Equity Newsletter - Winter 2016 Edition: Tools for Managing Environmental Risks in Deals

When parties to an M&A deal consider most environmental risks, they essentially seek the same goals that they seek with respect to other liabilities in the deal. M&A sellers, particularly private equity sellers, seek to avoid...more

Hot Tips for a Tenant to Green its Space

Companies of all shapes and sizes ranging from office and commercial tenants to those in the retail sector continue to look for ways to ensure their spaces are as “green” as possible – especially in today’s climate with a...more

New California Energy Use Disclosure Program for Commercial and Multifamily Buildings Approved

Current Disclosure Requirements for Building Owners and Tenants Repealed - A complicated energy reporting requirement for owners and tenants of commercial and multifamily buildings is ending under a new law that takes...more

Waste on land: a warning for landowners

Fly-tipping continues to cause problems for businesses, governments and communities. Defra recently assessed the number of fly-tipping incidents during 2014-2015 at around 900,000 in England alone.1 It comes as a surprise to...more

Changes in Environmental Due Diligence in Commercial Real Estate Prevent Toxic Investments

Financial due diligence in a commercial real estate purchase is a necessity, but equally important to purchasers and lenders is environmental due diligence. Many properties may have environmental issues from prior use, and...more

German Market Toolkit

An increasing number of leases contain individual “green” clauses or a “green” annex which are aimed at making the fit-out, management and use of the relevant building sustainable (“Green Lease”). Currently, Green Leases...more

Buyers Must Soon Comply With New Environmental Due Diligence Standard

Purchasers of commercial real estate must meet a new standard to qualify for liability protection under the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and analogous state laws. Since...more

A Busy Summer for Environmental and Land Use Law

In the past three months, we have witnessed a breathtaking series of decisions from the U.S. Supreme Court, the Connecticut Supreme Court, and the California Supreme Court that have provided important rulings and...more

Is that Wetland Jurisdictional? A Practical Guide to the New Clean Water Rule

The Clean Water Rule recently issued by EPA and the Army Corps of Engineers defines the scope of federal jurisdiction over wetlands and other “waters of the United States.”[1] It’s effective on August 28, 2015, so you need...more

Block Island offshore wind celebrated, challenged

U.S. and Rhode Island officials recently celebrated the start of construction on the Block Island Wind Farm, which is on track to be the first commercial offshore wind farm in the U.S. The five-turbine, 30-megawatt project...more

Can First Nations Claim Aboriginal Rights and Title as well as Treaty Rights?

Yes, said the Court of Appeal for British Columbia (Court) in its recent decision in Chartrand v. British Columbia (Forests, Lands and Natural Resource Operations). The Court found that the provincial Crown had not adequately...more

Foundation: July 2015 • Vol. II, Issue 2

Warranty/Guaranty Provisions in Construction Contracts - The most confusion I have seen in the discussion of construction topics concerns the concepts of “warranty” and “guaranty.” This article will address the...more

Real World - An Update from Dechert's London Finance and Real Estate Group July 2015: Energy Efficiency in the Rented Sector

The UK government has a target to reduce greenhouse gas emissions by at least 80% by 2050, compared to the 1990 baseline. As domestic buildings were responsible for 25% and non-domestic buildings for 12% of total carbon...more

Addressing Environmental Issues in Real Estate Development

Dealmakers sometimes overlook environmental issues when negotiating transactions, leaving important business and legal issues unaddressed until they inevitably pop up shortly before closing and send everyone scrambling. This...more

Texas Supreme Court Rules that CERCLA PRP Letters and Enforcement Proceedings Are “Suits” Subject to the Duty to Defend Under...

On June 26, 2015, the Texas Supreme Court held that enforcement proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”)—including the issuance of a “PRP letter” notifying...more

(US) Revised Phase I Environmental Standards Will Impact Property Acquisitions this Fall

The All Appropriate Inquiries Rule (the “AAI Rule”), set forth at 40 CFR Part 312, serves as a benchmark protocol for inspecting a property’s environmental condition. If the benchmark is met, a prospective purchaser can be...more

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