Transferring cleanups facilitates planning; a public company can now transfer the potential risk of CERCLA liability to a third party
Article Abstract:
Environmental liability risk transfers (ELRTs) provide companies with environmental contingent liabilities a way of selling property in need of remediation to companies whose business is cleanup. The remediation will then take place when feasible and profitable and be done by a company specializing in remediation. The corporation will no longer need to maintain large reserves for remediation purposes. Many companies in this situation are Fortune 500 oil, chemical, gas and transportation businesses, and environmental outsourcing provides a good solution to their problems.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Parent companies face increased risk of liability; in employment, CERCLA cases, courts impose liability without piercing the corporate veil
Article Abstract:
Parent corporations may find the corporate veil pierced more easily in lawsuits under the federal CERCLA environmental act, or regarding employment discrimination under Title VII. Courts have adopted similar standards for imposing liability on parent companies that exert too much control over an at-fault subsidiary. In Title VII cases a four-part test looks for centralized control of labor relations, while in CERCLA cases the parent's degree of authority and control over the polluting facility is at issue.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Amendment to CERCLA, RCRA affects lenders; a new law helps protect lenders from Superfund liability, but some uncertainties remain
Article Abstract:
The Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996 amends CERCLA and the Resource Conservation and Recovery Act, amplifying the secured lender exclusion, increasing protection fiduciaries have under CERCLA and giving lenders and fiduciaries similar protection under the Resource Conservation and Recovery Act. Observers say it provides major relief for real estate lenders, but uncertainties remain.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Protecting nuclear facilities from military attack: prospects after the Gulf War. The Protocol on "Blinding Laser Weapons": a new direction for international humanitarian law
- Abstracts: Reporting legal misconduct in law firms. Desperately seeking daycare; the secret lives of women lawyers
- Abstracts: Shoring up malpractice insurance; the importance of prior acts coverage and extended reporting endorsements. The right amount of coverage: taking inventory of risks helps determine malpractice insurance limits
- Abstracts: Circuits split on color trademarks; the courts' inability to settle this issue makes litigants see red. Global colorblindness to trademarks is dying: the laws of the world are all over the spectrum, but the prospects for colors as marks are brighter
- Abstracts: States take up 'speedy' uniform adoption law; critics say model act restricts the rights of biological parents