Environmental Liability Transfers Used to Solve Multiple Problems for Client

Hodgson Russ has represented major industrial manufacturers in transferring environmental liabilities and related legal exposures and obligations to financially sound third parties for a fixed sum. In such cases, the client has monetized the large and uncertain risks arising from the need to remediate legacy contamination and the associated tort, reuse, and redevelopment risks. Each transfer involved the use of sophisticated environmental insurance products and other risk transfer assessments, allowed the client to remove the reserves established for those liabilities and exposures, and ultimately resulted in the successful redevelopment of the contaminated property.