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Ever concerned with minimizing risk, most banks routinely scrutinize the commercial real estate (CRE) they accept as collateral. Within the past 15 years, strict federal, state and local environmental liability laws have sprung up, ensuring that environmental due diligence is now a typical component of the commercial-mortgage origination process. Recent calls from regulators for stricter risk-management practices in CRE underwriting, coupled with the EPA's new "All Appropriate Inquiry (AAI)" environmental rule, which took effect Nov 2005, have put the spotlight firmly on banks' risk-management practices, particularly environmental due diligence. Around one-third of commercial loan originations today undergo a Phase I environmental site assessment. In lending circles, awareness about the...
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... issues prior to closing, allocating liability in the terms of the deal, and using statutory prog...Environmental risk assessment takes many forms, often driven by the level of inq...
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Contaminated property that secures loan transactions can pose numerous problems for buyers and lenders, which is why most banks routinely screen properties for environmental risk as part of the underwriting process. What many banks may not know is that environmental due diligence takes on even greater importance during foreclosure, because, as an owner, the bank can be held liable for cleanup unless it takes steps to protect itself. That protection comes in the form of a Phase I environmental site assessment prepared in accordance with the US Environmental Protection Agency's All Appropriate Inquiry rule or its equivalent, ASTM standard E 1527-05. As most lenders are aware, Comprehensive Environmental Response, Compensation, and Liability Act contains a secured-creditor exemption that g...
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...Comprehensive Environmental Response, Compensation, and Liability. Act (CERCLA...Threshold Planning Quantities.''. A risk assessment, performed at the manufacturer expense,...
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Corporate environmental performance has long been driven by outside influences such as regulatory requirements and market pressures. In fact, has been a critical business consideration since 1986, when the innocent purchaser defense was added to the Comprehensive Environmental Response, Compensation and Liability Act. The primary purpose of is to assess the impact of potential environmental risk on collateral value. There are several tools available to help corporations assess their environmental risk. One commonly used tool, the Phase I environmental site assessment, is prepared by an environmental professional. Corporate managers can also pre-screen properties for environmental issues from their desktop. Corporate managers can us...
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... William Reilly who led the Environmental Protection Agency under President George H. W. Bus... policies going forward to reduce the risks of such a spill ever happening again. And we zero... had concerns about their own potential liability, and BP had concerns about conflicts of interest a... operational expertise." What's our assessment of the scientific and operational expertise of the...
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... services that are associated with financial risk and want to be reassured that the company can be t...RQ3: Is the assessment of the effectiveness of communication strategies c... be an asset of the company and not a liability" (Dash & Creswell, 2008). . Excerpt 2 . In late su... of the economic, social and environmental impacts attributed to that industry over time." An...
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...Comprehensive Environmental Response, Compensation, and. Liability Act (CERCLA...Their Threshold Planning Quantities''. A risk assessment, performed at manufacturer expense, may...
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...(6) The Indian government's assessment of the legal framework to manage environmental and... such as waste management, siting, and liability. Without a comprehensive and cohesive internationa... as long-term waste disposal, fuel cycle, and risk of proliferation, nuclear energy remains an expens...