Enviro Review Standard Tweaks May Clarify Cleanup Liability

A newly revised standard for environmental site assessments is imminent — and should afford new property owners and operators clearer protection from liability for hefty environmental cleanups. The revisions are expected to provide much-needed clarification to the standard currently used by the vast majority of environmental professionals as part of real estate transaction due diligence. Parties in real estate and mergers and acquisitions — including owners, operators, developers, lenders, insurance providers, and bond issuers and underwriters — will be affected.

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