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Environmental-contamination claims present tricky issues for debtors seeking a fresh start through bankruptcy, as well as for creditors and purchasers of distressed assets. Difficult issues emerge in the context of when...more
The facts in Salamon are straightforward. Salamon (“Buyer”) purchased real property from Behrend (“Seller”) that was already subject to two liens (the “Preexisting Debt”). Instead of paying cash at closing, the Buyer executed...more