On December 15, 2022, the Environmental Protection Agency published a final rule recognizing ASTM E1527-21 as the new standard for performing a Phase I Environmental Site Assessment (“ESA”)....more
The United States Environmental Protection Agency ("EPA") adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard adds more refined investigation and...more
The U.S. Environmental Protection Agency (“U.S. EPA”) has revised the standards by which real property purchasers, lessees and environmental professionals should conduct a Phase I Environmental Site Assessment (“Phase I...more
The U.S. Environmental Protection Agency (EPA) is in the process of rulemaking to adopt a new national standard for Phase I environmental site assessments. While the EPA had hoped to adopt the new Phase I standard more...more
For many years, it has been standard practice for prospective purchasers and even tenants to conduct a Phase I Environmental Site Assessment (“ESA”) before acquiring a new property interest. This is for two important reasons:...more
As covered in my previous post, the ASTM International (ASTM) released a revised standard for conducting Phase I Environmental Site Assessments (Phase I ESAs) – ASTM E1527-21. While the E1527-21 standard has been available...more
On November 1, the American Society for Testing and Material’s (ASTM) released a revised standard for conducting Phase I Environmental Site Assessments (Phase I ESAs). ...more
Given the current demand for downtown properties, borrowers are acquiring contaminated properties like never before. Against this backdrop, lenders should become familiar with the basics of environmental laws imposing...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
When facing the potential of spending large sums of money on remediation, administrative enforcement, or litigation due to a chemical release to the environment, you must be able to take the collected information and data and...more