Managing Risk in Transactions: An Era of Changing Environmental Due Diligence Standards

October 29, 2013
Bloomberg BNA

1 to 2:30 p.m. ET

The American Society for Testing and Materials International (ASTM) is poised to issue an updated version of its Phase I environmental site assessment standard -- E 1527-13 – this year.

In anticipation of the revision, the EPA issued a notice of a direct final rule that listed E 1527-13, in addition to the existing E 1527-05 standard, as a means to satisfy the statutory requirements for "all appropriate inquiries" (AAI) under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).

Pre-acquisition compliance with AAI is a necessary element for achieving statutory liability protections under CERCLA. Based on EPA's Federal Register notice, the agency will withdraw the direct final rule and address all public comments through a formal rulemaking process. The EPA's decision will affect actions parties take in seeking liability protections under CERCLA.

The webinar will evaluate legal and practical implications of these developments in the context of environmental due diligence fundamentals and contractual risk management, focusing on practical considerations and real world examples.

Our panelists will:

  • Analyze due diligence issues under the current and revised versions of the ASTM E 1527 Phase I standard
  • Provide a status update on the EPA's proposed AAI rule and discuss its potential effect on CERCLA liability protection and business risks
  • Discuss the strategic considerations of partnering with a technical consultant in performing Phase I assessments
  • Address contractual considerations in a real estate transaction such as representations and warranties and other key contract provisions.
  • Provide examples of successful real estate deals in which significant environmental challenges were surmounted


Christopher M. Roe , Co-chair of Environmental Practice, Fox Rothschild LLP

Amy Edwards, Holland & Knight

Edward L. Strohbehn, Jr., Bingham McCutchen

Click here to register for this event.