Zombie Corporations and CERCLA Liability: Identifying and Pursuing Zombie PRPs

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Thursday, April 15, 2021

Recorded event now available

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Program Materials

This CLE webinar will guide counsel on identifying and pursuing defunct or "zombie" corporations and their insurance assets as a source of funding cleanup of contamination sites. The panel will discuss what to do after identifying zombie candidates, claims evaluation due diligence, litigation trends in these PRP and insurance cost recovery cases, the states where these claims are more likely to succeed, and how to manage and overcome impediments to successful recoveries.

Description

As contamination site cleanup costs continue to rise, attorneys have looked to additional ways to tap into insurance coverage to pay for cleanup, including pursuing zombie corporations to reach their undistributed assets.

These dissolved corporations may have undistributed insurance assets that, with the right strategy, can be triggered and monetized to help defray cleanup costs and reduce potential CERCLA liability of other parties.

Counsel face hurdles when reviving these corporations to pursue insurance claims such as understanding what the undistributed assets are and the laws that apply, identifying whether corporations are "dead and buried" and not subject to lawsuits, triggering the insurance coverage, representing the zombie, and managing the costs of PRP and insurance claims.

Listen as our authoritative panel discusses the pursuit of zombie corporations and their insurance assets and how to manage the claims for success.

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Outline

  1. Identifying zombie corporations
  2. How courts are treating zombie corporations in CERCLA litigation
  3. Hurdles companies and their counsel face when pursuing zombie corporations

Benefits

The panel will review these and other key issues:

  • Does a zombie corporation have the capacity to be sued?
  • Can a party that is not an additional insured tap into the insurance policy?
  • How have the courts treated the issue of suing zombies for insurance assets?
  • What are best practices for discovering insurance assets?
  • How can counsel for the zombie corporation defend?"

Faculty

McGrath, Peter
Peter J. McGrath, Jr.

Member
Moore & Van Allen

A frequent lecturer and author on diverse environmental issues, Mr. McGrath brings to his wide-ranging clients...  |  Read More

Riesel, Daniel
Daniel Riesel

Principal
Sive Paget & Riesel

Mr. Riesel has litigated a wide variety of cases which include numerous environmental matters, white collar defense,...  |  Read More

Gracer, Jeffrey
Jeffrey B. Gracer

Principal
Sive Paget & Riesel

Mr. Gracer's extensive experience includes hazardous substance and toxic tort litigation; environmental permitting...  |  Read More

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