Industrial Property Closure and Divestiture
We advise companies on the environmental cleanup, investigations and permitting requirements related to plant closings. Our lawyers provide valuable, efficient guidance to help clients effectively address immediate and long-term environmental issues and to ensure compliance with applicable federal, state and municipal laws during plant shutdowns. By handling the full range of environmental issues, we help clients focus on other critical pre-closure business decisions.
Our Environmental practice group assists clients in cost-effectively mitigating risk associated with the transfer of brownfield properties (i.e., properties that are or may be contaminated). The risks related to transferring such properties can include environmental issues stemming from past property uses that may be discovered during the buyer’s due diligence (which make contract negotiations more complex) or after the sale (which may lead to indemnity, cost recovery or toxic tort claims).
We assist clients in understanding the various options and their respective costs and benefits. One size does not fit all. Good decisions are based on a thorough evaluation of the unique facts and circumstances for each property and consideration of the company’s objectives, with input from the company’s environmental and real estate managers, environmental consultants and experienced environmental counsel.
We have helped businesses of all sizes across the country – from small family-owned enterprises to international companies – close, decommission, remediate and sell former industrial properties. Our experience encompasses addressing issues related to unique state laws, such as the Connecticut Transfer Act, New Jersey Industrial Site Recover Act and Ohio Cessation of Regulated Operations law. We also assist companies with developing and implementing corporate programs for closing, decommissioning, remediating and selling former industrial facilitates.