Effective February 13, 2024, prospective purchasers and ground tenants of commercial and industrial property seeking liability protections under the Comprehensive Environmental Response, Compensation, and Liability Act...more
ASTM E1527-21 to Replace ASTM E1527-13 - On December 15, 2022, U.S. EPA published in the Federal Register its final rule updating its AAI Rule, recognizing ASTM E1527-21 as a method for meeting the AAI requirements for...more
In mid-March, the U.S. Environmental Protection Agency (EPA) issued a direct final rule approving ASTM International (ASTM) Standard E1527-21 as an additional standard meeting the all appropriate inquiry (AAI) component for...more
Join Ulmer for a Live Webinar on the New Phase I ESA Standard and Solving Environmental Problems During Real Estate Transactions - The American Society for Testing Materials (ASTM) released an update last November to the...more
On March 14, 2022, EPA published a Direct Final Rule and a Proposed Rule that would incorporate ASTM International’s (“ASTM”) updated standard for conducting Phase I Environmental Site Assessments (“Phase I ESAs”) into EPA’s...more
Changes are on the way for ASTM’s Phase I Environmental Site Assessment (“Phase I”) standard, the almost 30-year-old lynchpin of the transactional due diligence process. The American Society for Testing and Materials (“ASTM”)...more
The COVID-19 pandemic has the potential for impacting prospective purchasers of real estate from performing due diligence. The Bona Fide Prospective Purchaser (BFPP), the Innocent Landowner (ILO), and the Contiguous Property...more
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
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 new Phase I environmental site assessment standard has been approved for use in 2014, providing the most current set of environmental site assessment practices for real estate and many M & A transactions. The new Phase I...more