Zombie Corporations and CERCLA Liability: Identifying and Pursuing Zombie PRPs
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will guide counsel on identifying and pursuing defunct or "zombie" corporations and their insurance assets as a source of funding cleanup of contamination sites. The panel will discuss what to do after identifying zombie candidates, claims evaluation due diligence, litigation trends in these PRP and insurance cost recovery cases, the states where these claims are more likely to succeed, and how to manage and overcome impediments to successful recoveries.
Outline
- Identifying zombie corporations
- How courts are treating zombie corporations in CERCLA litigation
- Hurdles companies and their counsel face when pursuing zombie corporations
Benefits
The panel will review these and other key issues:
- Does a zombie corporation have the capacity to be sued?
- Can a party that is not an additional insured tap into the insurance policy?
- How have the courts treated the issue of suing zombies for insurance assets?
- What are best practices for discovering insurance assets?
- How can counsel for the zombie corporation defend?
Faculty
Robert M. Horkovich
Managing Shareholder
Anderson Kill
Mr. Horkovich focuses his practice on the area of insurance recovery. He has obtained over $5 billion in... | Read More
Mr. Horkovich focuses his practice on the area of insurance recovery. He has obtained over $5 billion in settlements and judgments from insurance companies for his clients over the past decade. He is a trial lawyer with substantial experience in trying complex insurance coverage actions on behalf of corporate policyholders and governmental entities.
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Lawrence P. (Larry) Schnapf
Principal
Schnapf LLC
Mr. Schnapf primarily concentrates on environmental risks associated with corporate, real estate and brownfield... | Read More
Mr. Schnapf primarily concentrates on environmental risks associated with corporate, real estate and brownfield transactions; commercial financing including asset-based lending, syndicated loans, mezzanine loans and distressed debt; and bankruptcy, workouts and corporate restructuring. He has extensive experience with brownfield redevelopment and financing, including representing affordable housing developers and assisting local development corporations or not-for-profit organizations with their brownfield planning programs. Mr. Schnapf also counsels clients on environmental, represents clients in federal and state environmental litigation, enforcement actions, administrative proceedings and private cost recovery actions. He is a past Chair of the Environmental Law Section of the NYSBA, Co-Chair of the NYSBA brownfield task force, and former Co-Chair of the NYSBA Hazardous Site Remediation Committee. Mr. Schnapf is a past Chair of the ABA Section of Business Law Committee on Environmental, Energy and Natural Resources Law and a Vice Chair of the ABA Section of Environment, Energy and Resources. He has also served on a number of ASTM Task Groups, including Chair of the legal subcommittee for the ASTM E1527 task force responsible for the 2013 and 2021 revisions to ASTM E1527 phase 1 standard and was Co-Chair of the legal sub-committee for the ASTM Vapor Intrusion Task Group.
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