Environmental Exposures and Lender Concerns

CERCLA Liability Strict, Joint and Retroactive Liability Classes of Liable Parties Relevant to Lender Liability Past and Current Owners Past and Current Operators Defenses Third Party Defense (requires due care) Bona Fide Prospective Purchaser, Contiguous Property Owner, Innocent Landowner all appropriate inquiry ■ Post-acquisition "appropriate care" Secured Creditor Exemption ■ Indicia of ownership without participating in management of facility. ■Foreclose but take commercially reasonable steps to sell property 50 リ

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