Bankruptcy Strategies For Nondebtors At Superfund Site

Law360, New York (February 24, 2014, 4:57 PM EST) -- Environmental and bankruptcy law are at odds: environmental laws seek to impose liability on corporations for their past conduct, whereas bankruptcy is focused on giving debtors — the entities going through bankruptcy proceedings — a fresh start.

When environmental and bankruptcy law collide, the stakes are high not only for debtors and the government, but also for nondebtor private parties, including nondebtors who are potentially responsible parties ("PRPs"), along with a debtor, at a Superfund site. Environmental claims by nondebtor PRPs against a debtor for future...
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