Bona Fide Prospective Purchaser Defense: Selling Environmentally Contaminated Property in Bankruptcy

A live 90-minute CLE webinar with interactive Q&A


Tuesday, September 19, 2017
1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, August 25, 2017


This CLE webinar will prepare environmental attorneys representing purchasers and sellers of contaminated property to leverage the protections of the bona fide prospective purchaser (BFPP) defense through a bankruptcy sale. The panel will discuss obtaining BFPP protection, creating bankruptcy remote entities to receive property transfers, and proceeding through a bankruptcy plan sale or a Section 363 sale.

Description

Under CERCLA, a purchaser of environmentally contaminated property is strictly liable for clean-up costs. Contaminated properties typically have a significantly reduced market value and may be completely unsellable.

The BFPP defense, however, may shield a purchaser from CERCLA liability stemming from preexisting contamination and may facilitate the sale of the property. A bankruptcy sale is an effective way for a prospective purchaser to obtain BFPP defense protection.

A Section 363 sale may only close after the bankruptcy court authorizes the sale by court order either on motion with 21 days’ notice to all interested parties or under a Chapter 11 plan that requires a slightly longer timeframe but provides other benefits, such as transfer tax exemption for the transaction.

Listen as our authoritative panel of environmental attorneys outlines a strategy that sellers and prospective purchasers may implement to obtain BFPP protection for a prospective purchaser through a bankruptcy sale.

Outline

  1. Overview of CERCLA obligations with respect to contaminated property
  2. Selling contaminated property outside bankruptcy
  3. Selling contaminated property in bankruptcy

Benefits

The panel will review these and other key issues:

  • How can prospective purchasers of contaminated property leverage a bankruptcy sale of property to obtain BFPP status?
  • How does the bankruptcy code allow sale of the contaminated property free from CERCLA liability?
  • What are the mechanisms in the bankruptcy code for a 363 sale or a Chapter 11 plan sale?

Faculty

James P. Rigano
Rigano, Melville, N.Y.

Mr. Rigano concentrates his practice exclusively in environmental law. He served in the Enforcement Division of the United States Environmental Protection Agency, where he was involved in a variety of water pollution control programs and was environmental counsel to the New York Power Authority. He has extensive experience in subsurface contamination and solid waste issues, subsurface soil gas issues, and environmental issues in brownfield development projects. He has negotiated technical and environmental issues and has addressed a host of complex regulatory concerns in the redevelopment of contaminated property. He handles a broad range of cases involving wetlands, open space, and air pollution issues, and has litigated cost recovery actions.

Nicholas C. Rigano
Rigano, Melville, N.Y.

Throughout his practice, Mr. Rigano has represented key constituents in Chapter 7 and 11 bankruptcy cases, including trustees, debtors, committees, secured creditors, factors, landlords, trade creditors and defendants in Chapter 5 bankruptcy actions. His practice also includes the representation of clients with a variety of environmental issues, including subsurface contamination, solid waste, and cost recovery issues. He authored numerous articles published in Bloomberg Bankruptcy Law Reporter, Wall Street Journal Bankruptcy Pro, the American Bankruptcy Institute Law Review and the New York Real Estate Journal. He has lectured extensively on various bankruptcy and litigation topics.


Live Webinar

Live Webinar $247.00

Includes Early Discount Savings of $50.00 (through 08/25/17)

Add a colleague on the same connection in the same room for only $97.00 in the shopping cart or by calling customer service.

This webinar is eligible for at least 1.5 general CLE credits.

CLE credits are not available for PR.

*In KS, OH, PA, for more than 1 attendee on the connection you must contact Strafford CLE via email or call 1-800-926-7926 ext. 35 prior to the program for special instructions.


Recordings

CLE On-Demand - Streaming Video

Includes recorded streaming video of full program plus PDF handouts.

On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.

AK, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN*, KS, KY, LA, ME, MN, MO, MT, NC, ND, NH**, NJ, NM, NV, NY, OH*, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.

CLE On-Demand Video $247.00
Available 48 hours after the live event

Includes Early Discount Savings of $50.00 (through 08/25/17)

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Recorded Event

Includes full event recording plus handouts (available after live webinar).

Strafford is an approved provider and self-study CLE credit is available in most states.

AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NJ, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

Strafford will process CLE credit for one person on each recording.

Additional copies of a recording can be purchased at a discount. Please call Strafford Customer Service toll-free at 1-800-926-7926 ext 10 or email customerservice@straffordpub.com to place your order.

Recorded Webinar Download $247.00
Available 48 hours after the live event

Includes Early Discount Savings of $50.00 (through 08/25/17)

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Recorded Audio Download (MP3) $247.00
Available 24 hours after the live event

Includes Early Discount Savings of $50.00 (through 08/25/17)

How does this work?

DVD (Slide Presentation with Audio) $247.00 plus $9.45 S&H
Available ten business days after the live event

Includes Early Discount Savings of $50.00 (through 08/25/17)

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Registration Plus Recorded Event

Best value!

Live Webinar & Webinar Download $344.00

Includes Special Savings of $250.00 (through 08/25/17)

Live Webinar & Audio Download $344.00

Includes Special Savings of $250.00 (through 08/25/17)

Live Webinar & DVD $344.00 plus $9.45 S&H

Includes Special Savings of $250.00 (through 08/25/17)


Webinar

Strafford webinars offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

Early Registration
Discount Deadline
August 25, 2017
(5 days)

or call 1-800-926-7926

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See CLE State Map >

or call 1-800-926-7926

Customer Reviews

The case study approach was extremely helpful and interesting on this timely topic.

Van Hilderbrand

Sullivan & Worcester

The program was practical and showed both sides of the issue.

Kristina Pasko

Lowenstein Sandler

I appreciated the depth with which the presenters discussed the subject.

Dan Jordanger

Hunton & Williams

The program was very well organized and the speakers were prepared.

Marti Sharp

Kell Alterman & Runstein

I liked the breadth and overview of trends in case law and claims/defenses.

Donald J. Moran

Pedersen & Houpt

or call 1-800-926-7926

Environmental Law Advisory Board

John J. Allen

Partner

Allen Matkins

Albert M. Cohen

Partner

Loeb & Loeb

Aaron Courtney

Partner

Stoel Rives

Andrew N. Davis

Partner

Shipman & Goodwin

David R. Gillay

Partner

Barnes & Thornburg

Brian D. Israel

Partner

Arnold & Porter Kaye Scholer

Thomas J. P. McHenry

Partner

Gibson Dunn & Crutcher

James B. Slaughter

Principal

Beveridge & Diamond

Jeffrey A. Smith

Senior Counsel

Sidley Austin

E. Gail Suchman

Special Counsel

Stroock & Stroock & Lavan

Gregory D. Trimarche

Senior Counsel

Ring Bender

or call 1-800-926-7926

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Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.