Environmental Risks in Commercial Real Estate Purchases: Due Diligence and Drafting Considerations to Mitigate Risk
Potential CERCLA and RCRA Liability, Environmental Site Assessments, Indemnification Clauses and Remedies, and More
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will address the environmental risks associated with commercial real estate purchase and lease transactions and potential liability for buyers under federal and state laws. The panel will discuss how counsel can guide their clients through the transaction process and in what ways they can help mitigate their clients' risks of liability--including through due diligence, contractual drafting, and insurance considerations.
Outline
- Introduction: environmental liability risks for buyers
- CERCLA and RCRA
- State law
- Required due diligence
- All appropriate inquiries
- Environmental site assessments
- Preserving statutory defenses through post-acquisition "reasonable steps"
- Drafting to mitigate risk
- Purchase agreements
- Indemnification clauses
- Representations and warranties
- Remedies
- Insurance considerations
- Practitioner takeaways
Benefits
The panel will review these and other key considerations:
- How do federal and state environmental laws impose potential environmental liability on real property buyers?
- What actions should the environmental due diligence process encompass for buyers?
- How can counsel mitigate client environmental risk in contractual drafting?
- What insurance considerations should counsel and their clients contemplate for mitigating environmental risk in commercial real estate purchases?
Faculty
Jeff Corey
Corporate Counsel, Environmental and Post-Mining Closure
Rio Tinto
Mr. Corey is a corporate environmental counsel in the mining and metals industry who focuses on environmental... | Read More
Mr. Corey is a corporate environmental counsel in the mining and metals industry who focuses on environmental sustainability and post-mining site management. He works on a range of environmental issues, including CERCLA claims, state-level remediation regimes, and international compliance and risk management. Mr. Corey is part of a diverse team of attorneys and other professionals committed to environmental stewardship in one of the world's most important industries.
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Karl R. Heisler
Partner
King & Spalding
Mr. Heisler specializes in enforcement defense and incident response. He has managed the legal fallout from a wide... | Read More
Mr. Heisler specializes in enforcement defense and incident response. He has managed the legal fallout from a wide array of environmental and workplace safety incidents, ranging from fires and explosions to pipeline releases and the abandonment of hazardous waste. Mr. Heisler has over two decades of experience responding to governmental investigations involving the CAA, CWA, RCRA, CERCLA, and OSHA. He also dedicates a significant portion of his practice to environmental transactions, providing advice and counsel on environmental due diligence and the availability of transactional defenses, and he routinely negotiates representations, warranties, and indemnifications. Mr. Heisler has assisted with the acquisitions and divestitures of several entities subject to government investigations arising out of environmental and workplace safety incidents. His clients include public and private entities in the energy, chemical manufacturing, construction and waste management industries, as well as lenders, private equity and real estate firms with interests in these industries. Mr. Heisler is a prolific speaker on environmental law and incident response and for over a decade, has taught the environmental transactions course for the Environmental Law Institute, a leader in non-partisan research and environmental education.
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Sydney Weiss
Associate
King & Spalding
Ms. Weiss is a member of the Environmental, Health and Safety Practice Group in King & Spalding's Chicago... | Read More
Ms. Weiss is a member of the Environmental, Health and Safety Practice Group in King & Spalding's Chicago office. As both a scientist and engineer, she brings a unique perspective to her client work on environmental issues. Ms. Weiss worked at the U.S. Environmental Protection Agency in the Water Division where she developed water quality standards for PFAS, E.coli, salts, and other emerging contaminants. She has extensive regulatory experience, having worked at four public agencies throughout her career. Ms. Weiss has also worked on matters involving renewable energy, ESG, greenwashing, carbon markets, and Article 6 of the Paris Climate Agreement.
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