Environmental litigation

Journal Article · Sun Jul 01 04:00:00 EDT 1990 · Journal of the Air and Waste Management Association; (United States)

OSTI ID:5536576

Rodenhausen, G A ^[1]

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1. Edwards and Angell, New York, NY (United States)

Environmental risks associated with collateral are an increasingly important aspect of lending transactions. The concerns include liability for cleanup costs and natural resource damages, loss of value of the collateral due to environmental contamination and impairment of the borrower's ability to repay the loan as a result of environmental liabilities. Under CERCLA, lenders incur potential liability in three ways: by becoming the owner or operator of a facility, by holding indicia of ownership as a secured creditor while participating in management, or by becoming a generator of waste; that is, a person who arranges for transport and disposal of hazardous substances to a facility from which there is a release or threatened release. Although most lenders are vigorously pursuing audits, the liabilities that will be arising at today's contaminated sites derive from loans and perhaps foreclosures that may have created owner, operator or generator status many years ago.

• OSTI ID: 5536576
• Journal Information: Journal of the Air and Waste Management Association; (United States), Journal Name: Journal of the Air and Waste Management Association; (United States) Vol. 40:7; ISSN JAWAE; ISSN 1047-3289
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290300 -- Energy Planning & Policy-- Environment
Health
& Safety
54 ENVIRONMENTAL SCIENCES
540120* -- Environment
Atmospheric-- Chemicals Monitoring & Transport-- (1990-)
AUDITS
CONTAMINATION
COST
FINANCING
LAWS
LEGAL ASPECTS
LIABILITIES
MANAGEMENT
MITIGATION
OWNERSHIP
POLLUTION LAWS
POLLUTION SOURCES
US SUPERFUND
WASTE MANAGEMENT