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James J. Periconi, Esq. | April 16, 2008
Seldom is a knowledgeable buyer with experienced counsel willing to accept property “as is.” Nonetheless, if that is the agreed term of the transaction, then special care must be taken to make that provision effective. It will be construed against the seller.
James J. Periconi, Esq. | April 13, 2008
It may be appropriate to add specific representations on individual contaminants or areas of concern to buyer or lender. In addition to those listed, formaldehyde and radon may be of concern to the buyer.
James J. Periconi, Esq. | April 10, 2008
1. Disclosure of outstanding notices or basis for notices is important to a continuing business: “Seller has not received written or oral notification that any of its current or past operations or a by–product thereof is related to
James J. Periconi, Esq. | April 8, 2008
This most common of representations and warranties is most often abused. Buyer or tender may initially want a flat representation that there are not now and never have been any Hazardous Materials on the premises or any operations that generate, use, treat, store, or dispose of Hazardous Materials. Difficulties that immediately arise include
James J. Periconi, Esq. | April 6, 2008
Although the possession of and compliance with all necessary permits is important information for a buyer expecting to continue a business or a lender depending on the viability of a business, representations regarding permits do not necessarily cover potential liabilities for remediation or third party damages.
James J. Periconi, Esq. | April 1, 2008
A typical provision states: “Except as set forth in schedule x.x and except for violations which would not have a Material Adverse Effect, seller is not and has not been in violation of any Environmental Requirements.
James J. Periconi, Esq. | March 30, 2008
Typically the preamble for the representations and warranties will state that they are made to induce the buyer to purchase or the lender to make the loan contemplated. 1. Although buyer prefers seller’s representations and warranties to be absolute, seller will want to make them
James J. Periconi, Esq. | March 27, 2008
Material Adverse Effect: In a sale of any ongoing business, one way to address the difficulty of being absolute in the representations and warranties when in fact the parties are not concerned about
James J. Periconi, Esq. | March 25, 2008
Environmental Damages: This definition is a convenient place to collect all the possible liabilities and damages arising from the presence of hazardous materials on the property in violation of, or requiring remediation under,
James J. Periconi, Esq. | March 10, 2008
Environmental Requirements: Traditionally the term used is “Environmental Law,” but “Requirements” is more accurate as the definition goes beyond statutes and regulations.
Conservation Buffer Sufficient to Defeat Petitioners’ Standing to Challenge Proposed Development Court Allows Town’s Trespass and Strict Liability Claims against Neighboring Company to Go Forward Under CERCLA, Responsible Parties Liable for Future Clean-Up Costs Revised Standards for Phase II Environmental Site Assessments So, You’re Interested in Purchasing a Contaminated Property (or a Parcel Next to a Contaminated Property): An Overview of Phase I Environmental Site Assessments How to Insure You Get the Landowner Liability Protections under Superfund Environmental Groups Denied Intervention in Suit Regarding RCRA Consent Decree James J. Periconi Named 2011 Environmental SuperLawyer DEC Did Not Act Outside of Its Authority in Promulgating Regulations that Required Cleanup of Contaminated Properties to “Pre-Disposal Conditions” under the State Inactive Hazardous Waste Disposal Site Act 