Environmental Due Diligence for Corporate Transactions: The Bona Fide Purchaser and the All Appropriate Inquiry Rule

A few months ago we posted our first blog on environmental due diligence, and as promised, we will continue to post on this important subject. This week we will focus on the popular, yet oft-mistaken, bona fide purchaser exception and the all appropriate inquiries rule (AAI rule) under CERCLA. In purchasing property, a buyer will conduct an assessment to determine whether a parcel (or property connected to an entity being acquired) has potential environmental contamination concerns and whether any issues may necessitate remedial action in …

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