Environmental issues are important considerations in all real estate transactions. Our attorneys regularly assist clients in acquiring and selling properties impacted by historic contamination. We work hand in hand with clients and their environmental consultants to assess the impact of existing contamination and the need for remediation, monitoring or other agency directive.
A variety of private and public sector organizations may play a role in the course of cleaning up and redeveloping brownfield sites. Our attorneys have worked with on transactions involving all of the key players - state environmental agencies, federal environmental agencies,state economic development and planning agencies, citizen and community groups, commercial lenders, technical consultants, and remediation contractors.
Numerous clients utilize environmental insurance to bridge the risk inherent in redeveloping brownfield sites. Insurance can help address the risk presented in a brownfield transaction, thereby facilitating cleanup and redevelopment. Insurance can be used to reduce the risk of potential liability related to contamination. Insurance products vary based on the particular need, but we are familiar with all of the following: cleanup cost cap insurance, environmental impairment insurance and secured creditor insurance.
We regularly review and negotiate environmental insurance policies and work with our client’s insurance brokers to obtain the most advantageous coverage possible. We also have extensive experience with insurance claims and disputes, including litigation on behalf of policyholders.