Environmental Liability in Bankruptcy
Author: Roy B. True
Publisher: Lrp Publications
Published: 1995
Total Pages: 175
ISBN-13: 9780934753401
DOWNLOAD EBOOK →Author: Roy B. True
Publisher: Lrp Publications
Published: 1995
Total Pages: 175
ISBN-13: 9780934753401
DOWNLOAD EBOOK →Author:
Publisher: Thomson West; Aspatore
Published: 2010
Total Pages: 0
ISBN-13: 9780314268532
DOWNLOAD EBOOK →Managing Environmental Liabilities in Bankruptcy provides an authoritative, insiders perspective on best practices for helping clients minimize their environmental liabilities during bankruptcy proceedings. Featuring partners from some of the nations leading law firms, these experts guide the reader through the process of assessing environmental risk and transferring liabilities. These top lawyers reveal their advice for navigating environmental reporting obligations, developing innovative risk transfer strategies, and understanding the conflicting goals of environmental and bankruptcy law in todays legal landscape. From assisting clients in identifying and understanding environmental risks to offering advice to companies emerging from bankruptcy, these authors give tips on how best to manage risk during all stages of the bankruptcy process. Additionally, these leaders discuss recent trends in bankruptcy strategies, including 363 asset sales and pre-packaged and pre-negotiated bankruptcy plans. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating this rapidly-changing area of law.
Author: Anne Lawton
Publisher:
Published: 2008
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOK →Legal commentators, policy-makers, and the media argue that the current structures of environmental, bankruptcy, and corporate law permit firms to strategically use bankruptcy to inappropriately displace hundreds of millions of dollars of environmental liability onto taxpayers. However, the proposed solution to this supposed problem - reforming bankruptcy, environmental, and/or corporate law - is draconian, and may cause dramatic and uninteded consequences. Moreover, these demands for reform are occurring in a complete absence of data about whether and to what extent inappropriate strategic use of bankruptcy in this manner actually occurs. We conducted an empirical analysis of Chapter 11 bankruptcies filed in 2004 and closed by mid-2006 to try to determine the extent to which environmental liabilities drive bankruptcy filings, with an eye to examining the following questions. First, how many firms in the data set reported environmental violations, liabilities, or other obligations? Second, of these firms, in how many instances did the environmental issues play a role in the bankruptcy filing? Third, of the firms in which environmental matters caused the bankruptcy filing, in how many cases did the debtor end up shifting the cost of the environmental cleanup to the taxpayer? Fourth, even if environmental obligations did not play a role in the decision to file for bankruptcy, did the debtor avoid paying for environmental remediation either by invoking the Bankruptcy Code's abandonment power or its right to discharge? Finally, is there any evidence that parent corporations are using subsidiaries as a mechanism to siphon off assets, thereby leaving a bankrupt subsidiary with environmental liabilities but no assets with which to satisfy them? Our findings suggest that the strategic use of Chapter 11 to avoid environmental obligations is an uncommon phenomenon. We conclude with suggestions about how to improve the reporting of environmental issues in bankruptcy, and also with a cautionary note about reforming bankruptcy, environmental, or corporate law based on anecdotal, rather than empirical, evidence.
Author: John Barrett
Publisher: Springer
Published: 1998
Total Pages: 240
ISBN-13:
DOWNLOAD EBOOK →At the October 1996 meeting of the Section on Business Law of the International Bar Association, Committee J presented a programme on environmental issues in insolvency proceedings. The success of the programme encouraged the participants to expand their papers into this book which offers an up-to-date current analysis of the treatment of environmental issues in bankruptcy and insolvency proceedings in six jurisdictions: Canada, Denmark, Germany, Spain, the United Kingdom and the United States. Each of the contributors outline the environmental concerns and legal issues within their jurisdiction, address the insolvency issues that arise and the impact of environmental concerns. The book also includes useful insights from a major international bank - Bank of Nova Scotia - into the handling of international credits where environmental concerns are raised in insolvency proceedings.
Author: John B. Stephenson
Publisher: DIANE Publishing
Published: 2005-11
Total Pages: 92
ISBN-13: 9781422302675
DOWNLOAD EBOOK →The burden of cleaning up Superfund & other haz. waste sites is increasingly shifting to taxpayers, part'y. since bus. handling haz. sub. are no longer taxed under Superfund & the backlog of sites needing cleanup is growing. While environ. laws rely on the polluter paysÓ principle, the extent to which liable parties cease oper. or restructure can directly affect the cleanup costs faced by taxpayers. This report: determines how many bus. with liab. under fed. law for environ. cleanups have declared bankruptcy, & how many such cases the gov't. has pursued in court; identifies challenges the EPA faces in holding bankrupt & other financially distressed bus. resp. for their cleanup oblig.; & identifies actions that EPA could take to ensure that bus. pay for their cleanups.
Author: Alan S. Tenenbaum
Publisher: American Bar Associaton
Published: 2023
Total Pages: 0
ISBN-13: 9781639052868
DOWNLOAD EBOOK →"This Practice Guide tells the story of the conflict between environmental law and bankruptcy law. These complex bodies of law have dramatically different purposes and have often come into conflict over the last four decades. I hope that this book will help government and private environmental and bankruptcy attorneys navigate the difficult complexities at the intersection of environmental and bankruptcy law by providing in one place a fulsome summary of the law in this area"--
Author: United States. Government Accountability Office
Publisher:
Published: 2005
Total Pages: 92
ISBN-13:
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