At
NFC Global (NFC),
there is no more important area of consulting and investigative services than
those directed at the protection of the environment and the clean up of existing
contaminants. The very future of our communities and the lives of our families
depend on the ability of governmental agencies and private organizations to
understand what is contaminating our ground and water, how to remove it and whom
to hold responsible for sharing clean up costs.
The Issues
Since the passage of the Resource Conservation and
Recovery Act (RCRA) in 1976 and the subsequent Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA) in 1981, more than 37,000
hazardous waste sites have been identified under the US Environmental Protection
Agency's "Superfund" Program.
Today, 95 percent of all
available drinking water in the US comes from ground water sources. Over 80
percent of all Superfund sites have groundwater that is contaminated to some
degree.
Those sites that have been identified and designated for clean up may only be a
small part of the total land mass that is contaminated by the more than 70,000
chemicals known to be used around the world. Hazardous wastes may be located in
any property that is subject to sale, public use or commercial development.
In today's litigious world, no
business transactions are more likely to result in liability than those
involving land transactions where a complete chain of title and history of use
of the land are not fully know.
Potentially
Responsible Party (PRP) Searches
NFC's PRP investigators review
site documents to identify transporters, generators, owners and operators that
have contributed to the disposal at the site and individuals that have relevant
knowledge of site activities. We devise an investigative plan and interview
guide, and gather evidence according to federal guidelines. NFC's professional
investigators are recognized and approved by the US Environmental Protection
Agency.
Environmental Due
Diligence
The party selling a property
has the responsibility to disclose any deposits of hazardous materials they are
aware of. The Lender and Buyer become liable for any contaminants that are
found on the property after the purchase is concluded. NFC investigators
conduct Due Diligence investigations of:
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Buyers and Sellers |
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Vendors, Suppliers,
Contractors |
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Merger and
Acquisition Targets |
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New and Existing
Customers |
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Potential Business
Partners |
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All Potentially
Responsible Parties |
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Other Litigation
Participants |
Environmental Due
Diligence - Buyer and Seller
Understanding the legal
requirements and key business "drivers" is essential to the risk management
process when buying or selling real estate. NFC consultants approach
buyer/seller environmental due diligence methodically, skillfully and doggedly.
Steps typically include:
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Formulating due diligence
team
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Review relevant documents |
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Research historical
property ownership and use |
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Conduct site visits |
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Identify and interview
those that would have relevant knowledge of site activities |
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Prepare a comprehensive
report of findings of fact
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Gather supporting
evidence
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Recommend further
investigation to confirm or preclude areas of concern |
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Provide expert testimony |
Litigation
Support
NFC assists companies that
have been designated as PRP's at a Superfund site, to identify additional PRP's
that should be sharing Superfund clean up costs. We also assist buyers who are
engaged in litigation regarding unknown or undisclosed hazardous materials at a
site that is subject to a sales agreement.
Asset Investigations
Once PRP's are identified,
asset investigations determine their ability to pay clean up costs. NFC will
also identify assets of PRP's that fraudulently claim insolvency.
Please
contact us for more
information. |
