Ensuring True Environmental Disclosure

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Modern cleanup and liability statutes have made it much easier to clean up contaminated sites. They have not, however, directly addressed a related and equally thorny issue: sites whose past use makes contamination likely if not virtually certain, but which have not (yet) posed a threat to off-site resources and may not have been thoroughly investigated by their owners.

The owners of such sites often seek to avoid cleanup costs by avoiding transactions and other steps that might trigger an obligation to investigate (or disclose the...
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