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Managing Risk in Transactions: An Era of Changing Environmental Due Diligence Standards


Tuesday, October 29, 2013
1:00 PM. - 2:30 PM ET
Product Code - EHAU03
Speaker(s): Amy Edwards, Holland & Knight, and Christopher M. Roe, Fox Rothschild LLP, and Edward L. Strohbehn, Jr.,Bingham McCutchen
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ASTM International is poised to issue this year an updated version of its Phase I environmental site assessment standard -- E 1527-13. In anticipation of the revision, in August the Environmental Protection Agency issued a notice of a direct final rule that listed E 1527-13, in addition to the existing E 1527-05 standard, as a means to satisfy the statutory requirements for “all appropriate inquiries” (AAI) under the Comprehensive Environmental Response, Compensation, and Liability Act. Pre-acquisition compliance with AAI is a necessary element for achieving statutory liability protections under CERCLA. Adverse comment was received. Based on the EPA’s Federal Register notice, the agency will withdraw the direct final rule and address all public comments through a formal rulemaking process. The EPA’s decision will affect actions parties take in seeking liability protections under CERCLA.

The webinar panel will evaluate legal and practical implications of these developments in the context of environmental due diligence fundamentals and contractual risk management, focusing on practical considerations and real world examples.

Bloomberg BNA’s webinar is designed to:
•Analyze due diligence issues under the current and revised versions of the ASTM E 1527 Phase I standard
•Provide a status update on the EPA’s proposed AAI rule and discuss its potential effect on CERCLA liability protection and business risks
•Discuss the strategic considerations of partnering with a technical consultant in performing Phase I assessments
•Address contractual considerations in a real estate transaction such as representations and warranties and other key contract provisions.
•Provide examples of successful real estate deals in which significant environmental challenges were surmounted

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Follow-up materials. You need no materials upfront to follow along to our live conference. But BNA always issues a follow-up e-mail with contact information for our speakers as well as other materials related to the topic.
CLE credits will be available for this EHS Webinar.

Amy Edwards, Holland & Knight, and Christopher M. Roe, Fox Rothschild LLP, and Edward L. Strohbehn, Jr.,Bingham McCutchen

amyEdwards 
Amy Edwards
is a partner in Holland & Knight's Public Policy & Regulation Group, where she serves as co-chair for the firm's national Environment Team, as well as its Military Installation Redevelopment Team. Amy has been practicing environmental and energy law for more than 25 years. She routinely counsels developers, lenders, and corporations about effective strategies for structuring real estate and corporate transactions to minimize environmental and financial risk. Amy represents local governments, developers, and financial institutions on base closure and privatization of military housing issues. She also represents companies in litigation and enforcement proceedings. Amy has represented her clients on environmental issues associated with real estate, including environmental site assessments, environmental insurance, energy benchmarking, carbon offsets, guaranteed fixed price remediation options, environmental indemnification agreements, cleanup requirements, renewable energy power purchase agreements, vapor intrusion, and cost recovery issues. Amy was an observer/advisor to the National Conference of Commissioners on Uniform State Laws while it developed a model Uniform Environmental Covenants Act. She is licensed to practice law in the District of Columbia, Maryland and Virginia.

ChrisRoe 
Christopher M. Roe is co-chair of the environmental practice group of Fox Rothschild LLP. He has helped clients manage and resolve environmental issues in the disposition of more than $700 million worth of former industrial facilities, including such issues as ongoing clean-up obligations, the suspected presence of hazardous substances in structures and the environment, and the need for environmental covenants and use restrictions. Chris has also assisted clients in acquiring interests in historically industrial sites, as well as in leasing property for uses such as manufacturing, laboratory space and nanotechnology. For the last five years, Chris has been active within ASTM’s Environmental Assessment, Risk Management and Corrective Action Committee, advocating the replacement of ASTM’s E 2600-08, Vapor Intrusion Standard Practice and leading a focus group that revised the definition of recognized environmental condition in the latest revision of ASTM’s Phase I standard practice. Chris is a member of the Cleanup Standards Science Advisory Board committee advising Pennsylvania on revision of its vapor intrusion guidance; he and his colleagues formally petitioned the U.S. Environmental Protection Agency in December 2012 for a public comment process on its draft vapor intrusion guidance and recently submitted comments on the guidance to the agency. Chris’ practice focuses on the environment, chemical handling and exposure, compliance, transactions and litigation, including cost recovery and mass tort defense. He is a graduate, cum laude, of Temple University School of Law and a graduate of the George Washington University. Chris is licensed to practice law in New Jersey and Pennsylvania.

EdStrohbehn 
Edward L. Strohbehn, Jr. is counsel at Bingham McCutchen, San Francisco where he advises clients regarding regulatory compliance and environmental risk issues associated with the redevelopment of contaminated sites, including those with vapor intrusion issues. He works with clients in developing strategies for addressing vapor intrusion issues. He assists clients in conducting environmental due diligence, negotiating transactions, and drafting commercial contract provisions for corporate asset and stock acquisitions. He was a member of the ASTM Vapor Intrusion Task Group that developed the ASTM E2600-10 Guide for Vapor Encroachment Screening. Edward is licensed in California and the District of Columbia.
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