August 2012

Banks Growing Concerned Over Liability Concerns in Brazil

Lender Liability /

Brazil has a robust economy but some foreign lenders are growing concerned about participating in this expanding market because of potential liability for environmental issues associated with projects they finance. This anxiety follows a 2009 decision by the Superior Court of Justice,Brazil’s highest federal court of appeals, that suggested a lender could be liable for […]

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Settlement Reached in Securities Class Action Suit For Inadequate Environmental Disclosure

bankruptcy, Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities /

The 2009 bankruptcy filing of Tronox, Inc. has spawned some interesting litigation. A trial commenced in May in the bankruptcy court for the Southern District of New York where a Litigation Trust formed as part of the Tronox reorganization plan is seeking $25B in damages from Kerr-McGee, a subsidiary of Anadarko Petroleum. Tronox, a manufacturer

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7th Circuit Declines To Apply Third Restatement of Torts in Apportionment Case

CERCLA, Corporate and Real Estate Transactions /

In U.S. v. NCR Corp., 2012 U.S. App. LEXIS 16097 (7th Cir. 8/3/12) the United States Court of Appeals for the Seventh Circuit declined to adopt the Third Restatement of Torts reflecting a national trend away from joint liability. This ruling seems to fly in the face of the legislative history of the Comprehensive Environmental

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NYC Launches Initiative To Reduce Grease Discharges To Sewer System

Water Pollution /

Fats, oil and grease (FOG) found in food ingredients can build up in sewer systems and constrict flow, causing sewer back-ups and interfere with sewage treatment processes.  According to the federal EPA, 40% of sewer backups are caused by grease clogging the sewers Many buildings in NYC have executive dining rooms, employee cafeterias and restaurants

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