Fixed-Price Cleanups: Using Captives and Other Cost Cap Alternatives
Lessons From Accomplished FPCs, When and Why to Use CCAs, and the Mechanics of Using a CCA
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will review the legal mechanics and technical prerequisites of entering fixed-price cleanups (FPCs) in the wake of Commercial Insurers' 2011 exit from the cost cap insurance market. It is designed for counsel for property owners and prospective owners (including brownfield developers), remediation contractors, cost recovery litigators, PRP groups, governments, and bankruptcy debtors and creditors, all of whom share an interest in quantifying cleanup costs in a manner that is accurate, efficient, and will hold over time. The panel will examine the use of cost cap alternatives (CCAs) using FPCs and other insurance products approved and used to support FPCs since the 2011 demise of the commercial cost cap market.
Outline
- Use of CCAs to support FPCs
- Why use
- When to use
- How to use
- Advantages and disadvantages
- Mechanics of CCAs
- Lessons learned from completed FPCs
- Guidance for using CCAs in FPCs
Benefits
The panel will review these and other key issues:
- What are the lessons from completed FCPs?
- What are the challenges and pitfalls of using CCAs in FPCs?
- What are best practices for leveraging CCAs in FPCs?
Faculty
Daniel A. Cantor
Partner
Arnold & Porter Kaye Scholer
Mr. Cantor has combined his dual training and experience as an environmental lawyer and a litigator into a broad-based... | Read More
Mr. Cantor has combined his dual training and experience as an environmental lawyer and a litigator into a broad-based practice focused on resolving disputes concerning environmental liabilities, as well as proactively managing and reducing potential liabilities. Mr. Cantor has significant experience in environmental risk transfer transactions, including the drafting and negotiating of risk transfer agreements and related environmental insurance products.
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Daniele Cervino
Member
Beattie Padovano
Ms. Cervino represents her clients in a variety of environmental regulatory and transaction issues. She has represented... | Read More
Ms. Cervino represents her clients in a variety of environmental regulatory and transaction issues. She has represented private equity firms and developers in environmental due diligence and environmental aspects of transactions, risk mitigation and insurance coverage. She has counseled many companies on environmental compliance and cost recovery matters. Ms. Cervino has served as Senior Vice President and General Counsel for Environmental Waste Management Associates (Parsippany, N.J.), an environmental consulting and remediation firm and its related companies. She has negotiated dozens of insured fixed price remediation contracts and environmental insurance policies and associated claims.
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Gordon C. Duus
Partner; Co-chair of the Environmental Law Practice Group
Mandelbaum Salsburg
Mr. Duus’ practice includes handling the environmental aspects of the firm’s numerous real estate and... | Read More
Mr. Duus’ practice includes handling the environmental aspects of the firm’s numerous real estate and commercial transactions. This includes representing clients who are buying, selling, leasing and financing real estate, with an emphasis on managing the issues arising from properties contaminated by, or potentially contaminated by, hazardous substances. He also has extensive experience assisting clients who are involved in the purchase or sale of stock or assets, including mergers and acquisitions. Mr. Duus has assisted numerous clients with obtaining and negotiating environmental insurance, handling site cleanup, obtaining development permits, complying with environmental regulations, advising on alternative energy projects, and providing expert witness testimony.
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