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- W110372357 abstract "in 1980, the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA or Superfiind) discouraged parties from acquiring, financing, and developing contaminated properties (so-called brownfields), by dramatically changing the scope of liability and corresponding risks for parties dealing with such properties. In the 2002 Small Business Liability Relief and Brownfields Revitalization Act (Brownfields Amendments), Congress encouraged brownfields development by, among other things, providing relief to small businesses and funding for development of contaminated properties. More significantly, however, the Brownfields Amendments added defenses for prospective purchasers of brownfields and directed EPA to promulgate new standards for the type of environmental due diligence or all appropriate inquiries (AAI) required to obtain those types of defenses. On November 1, 2005, the agency promulgated its final AAI rule. Although the AAI rule likely will significantly affect how environmental due diligence is performed, the scope of AAI may not correspond to what is appropriate or prudent from a business perspective. This article briefly identifies potential environmental liabilities, provides background on CERCLA, analyzes the changes made by the Brownfields Amendments, discusses the scope and limitations of the Brownfields Amendments' AAI standard, and makes some practical recommendations regarding environmental due diligence. To understand what diligence is due, it is important to understand the types of environmental liabilities that may arise under environmental statutes and the common law." @default.
- W110372357 created "2016-06-24" @default.
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- W110372357 date "2016-01-01" @default.
- W110372357 modified "2023-09-27" @default.
- W110372357 title "Transactional Environmental Due Diligence: What Diligence Is Due?" @default.
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