Morgan Gilhuly Spoke At CLE Webinar: Environmental Indemnity in Real Estate Transactions
By R. Morgan Gilhuly
June 10, 2014
Barg Coffin Partner R. Morgan Gilhuly participated in a panel discussion during an upcoming Strafford live CLE webinar, Environmental Indemnity in Real Estate Transactions: Allocating Risks of Potential Cleanup Costs, on Tuesday, June 10, 10am-11:30am Pacific.
This webinar was originally presented on April 23, 2014 -- due to popular demand, an encore presentation with live Q&A was scheduled for June 10, 2014.
This CLE webinar will provide guidance to counsel for buyers, sellers and lenders in real estate transactions on structuring environmental indemnity agreements to ensure coverage for environmental liabilities. The panel will examine key provisions and lessons from recent court treatment of such agreements.
Risk allocation of environmental liabilities in real estate transactions is often essential to a successful deal. Counsel must guide clients and companies through a number of decisions when negotiating and structuring an environmental indemnity agreement.
While indemnity agreements are a flexible tool for risk allocation, counsel must navigate complications and pitfalls presented by sub-indemnity clauses and clauses that limit indemnity for one item but provide complete indemnity for another aspect.
The First Circuit Court of Appeals' decision in VFC Partners 26 v. Cadlerocks Centennial Drive reinforces that specific language in environmental indemnity agreements is critical in real estate transactions. Counsel to buyers, sellers and lenders in real estate and other commercial transactions must carefully draft indemnity agreements to ensure coverage for potential environmental liabilities and cleanup costs.
Panelists will provide perspective and guidance on these and other critical questions:
- When is an environmental indemnity agreement necessary and when is it not useful?
- What are the key provisions of an effective environmental indemnity agreement?
- How do environmental indemnity provisions complement other provisions in real estate purchase and sale agreements?
- What are the critical lessons from recent court decisions for structuring environmental indemnity agreements?
- What are best practices for allocating environmental risk in real property transactions?
Following the presentation, the panelists will engaged in a live question and answer session with participants.
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Call 1-800-926-7926 ext. 10
Ask for Environmental Indemnity Agreements on 6/10/2014
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