Reducing Environmental Risk

Environmental Due Diligence For Real Estate Investors And Developers

Environmental due diligence is an integral part of a business’s general due diligence in major corporate transactions such as mergers, acquisitions and real estate buy-sell agreements. In addition to the likely inquiries as to a company’s general success, cash flow and tax burden, due diligence should also bring to light any environmental liability exposures presented by a major transaction. Evaluating environmental exposure, limiting the environmental and thus financial risks, and securing a “no further action” letter are part of that process.

“No Further Action” Letter

It is often crucial to a deal to obtain a “no further action” letter from the relevant government agency. That letter is a “signoff” by the government that the cleanup you’ve done (or succeeded in getting the other party to carry out) satisfies the agency sufficiently so that it will legally “close” the open file (often a petroleum spill number) on that property. The open file often blocks financing of the property, by posing uncertainties as to the extent of liabilities to be assumed or as to the value of the property. To mitigate future risks, it is crucial to have skilled legal representation to oversee this process. For a consultation with a New York environmental due diligence attorney regarding any of the following or other legal issues, contact Periconi, LLC.

Providing Environmental Risk Assessment

Periconi, LLC, provides experienced counsel in matters of environmental risk assessment and risk minimization in New York and beyond. The firm evaluates environmental risks, allowing clients to make informed business decisions. The attorneys of Periconi, LLC, skillfully undertake the drafting of contractual documents, putting protective measures in place should the acquisition of potentially contaminated properties go wrong. Taking into account pollution levels, permit limits, the handling of hazardous materials and any risk of environmental contamination, the firm will guide any due diligence process to a thorough completion.

The firm is prepared to serve as special counsel to real estate litigators for clients involved in real estate law cases that involve matters of environmental law. When a property for sale has soil or groundwater contaminant levels that exceed regulatory thresholds or guidance values, or if a business has improperly disposed of materials at an off-site location, lawyers at Periconi, LLC, can offer experienced insight, allowing business clients to make cost-effective decisions in their real estate transactions.

For attorney review letters or experienced representation in any matter of environmental due diligence, contact the Manhattan-based environmental law firm Periconi, LLC, by calling 646-733-4487. You can also reach us online.