Bank Not Liable for Failing To Disclose Environmental Issues At Foreclosure Sale

Disclosure of Environmental Liabilities, Environmental Due Diligence, Lender Liability /

In Rhima v JPMorgan Chase Bank, 2012 U.S. Dist.LEXIS 70492 (N.D.Tx. 5/18/02), plaintiff was the successful bidder at a foreclosure auction for a warehouse property. The advertised terms and conditions of the foreclosure sale offer indicated that bidders would be provided with environmental reports and access to the property for inspection but the sale was […]

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Ct Grants Summary Judgment in Maryland Square Vapor Intrusion Case

CERCLA, vapor intrusion /

We have been periodically posting updates on the progress of the landmark Voggenthaler v Maryland Square, LLC vapor intrusion case from Las Vegas, Nevada.  In the most recent ruling, the court granted the motion for summary judgment filed by the Nevada Department of Environmental Protection (NDEP) seeking cost recovery under CERCLA.  2012 U.S. Dist. LEXIS

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Non-Reliance Clause Bars Walk-Away Bidder From Recouping Diligence Costs

Corporate and Real Estate Transactions, Disclosure of Environmental Liabilities, Environmental Due Diligence /

The Delaware Supreme Court ruled that a bidder that declined to proceed with a $170 million could not recover recoup $1.2 million in due diligence and negotiation costs. In RAA Management, LLC v. Savage Sports Holdings, Inc., 2012 Del. LEXIS 271 (Del. 5/18/12) , investment fund RAA Management (RAA) was invited by an investor bank

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11th Circuit Affirms No Liability For Developer In Florida Bombing Range Case

Disclosure of Environmental Liabilities, Environmental Due Diligence /

The latest installment of our “Home on the Bombing Range” series takes us to Florida at the site of what is now known as the former World War 2 Pinecastle Bombing Range (PBR). Virgilio v. Ryland Group, Inc., 2012 U.S. App. LEXIS 10094 (11th Cir. 5/18/12) is a class action lawsuit brought by purchasers of

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Consultant Not Liable to Residents of Housing Complex For Not Identifying Vapor Risks

Brownfields, consultant malpractice, Disclosure of Environmental Liabilities, Environmental Due Diligence, vapor intrusion /

A California state court dismissed a negligence claim brought against an environmental consultant by residents of the infamous Ujima Village low income housing complex for failing to identify health risks associated with a former oil storage facility. The 300-unit Ujima Village complex had been constructed on a portion of the former 122-acre Athens Tank Farm

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Bank Not Liable For Auction Sale of Contaminated Property

Environmental Due Diligence, Lender Liability /

In Lusk v First Century Bank, 2012 W. Va. LEXIS 241 (Sup. Ct. 4/27/12), the plaintiff/petitioners purchased a commercial property at an auction foreclosure sale. The Notice of Trustee’s Sale and Regency’s advertising notice stated that the sale was subject to “environmental regulations” and that the property was being sold in an “as is” condition.

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Freddie Mac Changes Radon and ACM Requirements for Multi-Family Phase 1 Reports

Environmental Due Diligence /

Earlier this year, Freddie Mac recently clarified its environmental requirements for phase 1 reports issued for multi-family loans. The two key changes involve radon and asbestos. Excerpts for these two issues are below. The full text of the revisions are available from the link at the bottom of this post. Radon- Freddie Mac now requires

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Demystifying Environmental Investigations To Clients

Environmental Due Diligence, New York Brownfield Cleanup Program /

One of the more daunting tasks of environmental consultants and lawyers is to explain the environmental investigation and remediation process to clients and the public. Part of the problem is that many business people do not have a strong science foundation and may not understand some of the issues associated with environmental contamination. In addition,

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