Environmental Due Diligence In The Wake Of Atlantic Richfield

Highlights

• The U.S. Supreme Court's recently issued decision in Atlantic Richfield Co. v. Christian confirmed the broad statutory definition of "Potentially Responsible Party" (PRP) under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).
• The decision underscores the importance of environmental due diligence prior to purchasing, leasing or financing a property, including conducting "All Appropriate Inquiries" under 40 C.F.R. § 312, not only to establish a landowner liability defense but also to understand continuing obligations with respect to a contaminated property.
• This Holland & Knight alert provides a timely refresher on the key components of All Appropriate Inquiries.