Navigating Lender Liability for Environmental Cleanup and Remediation Costs
Indemnification Agreements, Insurance, Reps and Warranties, Covenants, Loan Defaults, Workouts and Foreclosure
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss lender liability in real estate loan transactions for environmental cleanup and remediation and how the lender can minimize direct liability and diminution of the collateral's value due to environmental damages. The program will discuss risk mitigation in loan origination and during the life of the loan, including loan workouts and foreclosures.
- Theories of liability
- Indemnification agreements
- Insurance, reps and warranties, loan covenants, inspection rights
- Lender's due diligence at the time of loan default, workout, foreclosure
The panel will review these and other key issues:
- What pitfalls do lenders face that may result in lender liability for environmental cleanup and remediation liability?
- What are the critical elements of environmental indemnity agreements?
- What are best practices for lenders to evaluate and manage environmental risks in real property loan transactions?
David H. Quigley
Akin Gump Strauss Hauer & Feld
Mr. Quigley advises lenders, sellers and buyers on evaluating the environmental liabilities associated with commercial,... | Read More
Mr. Quigley advises lenders, sellers and buyers on evaluating the environmental liabilities associated with commercial, multifamily and industrial transactions. He develops solutions that are cost-effective and realistic for clients (whether lenders, buyers or sellers) relative to the value of the property or portfolio. Mr. Quigley solves problems so that clients can cost-effectively and beneficially use their assets. He has established a strong profile in this space, having developed an environmental due diligence model for use in the foreclosure of commercial properties. Mr. Quigley works closely with clients and other firm practitioners to anticipate changes to the environmental regulatory landscape and assists clients in complying with those changes. He manages the defense of enforcement actions, having done so most recently in the Clean Air Act and Toxic Substances Control Act contexts. Mr. Quigley also resolves, through mutually agreeable settlements where possible and litigation where necessary, Comprehensive Environmental Response, Compensation and Liability Act cost recovery and allocation suitsClose
Bryan C. Williamson
Akin Gump Strauss Hauer & Feld
Mr. Williamson is an environmental and natural resources lawyer, advising and representing clients on a range of... | Read More
Mr. Williamson is an environmental and natural resources lawyer, advising and representing clients on a range of environmental regulatory, transactional and litigation matters. His experience extends to issues involving federal and state environmental protection laws, including the Comprehensive Environmental Response, Compensation and Liability Act, Toxic Substances Control Act, National Environmental Policy Act, Clean Air Act, Clean Water Act, Endangered Species Act, Resources Conservation and Recovery Act, California Global Warming Solutions Act (including the Low Carbon Fuel Standard). Mr. Williamson is also a member of the firm’s environmental, social and governance (ESG) practice through which he helps clients understand the business and legal risks associated with ESG and sustainability initiatives.Close