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Environmental Liability: Equipment Lessor Is Responsible Under CERCLA for Cleanup Costs As the Owner of a 'Facility'
Equipment lessors need to learn a new acronym: CERCLA. It stands for the Comprehensive Environmental Response, Compensation and Liability Act, and it has the potential to expose lessors to millions of dollars in environmental liability. This according to the recent Illinois federal district court case of United States v. Saporito, 210 WL 489703 (N.D.Ill. Feb. 9, 2010). Before discussing the case, some background is in order.
Cleanup of environmentally contaminated real estate is frequently a very expensive proposition. CERCLA (a/k/a Superfund) is the federal law that deals with the nation's most polluted sites. The cost of cleanup at an average CERCLA site is in excess of $30 million. To establish who must pay these costs, the federal law identifies four groups: 1) The current owner and/or operator of a facility; 2) the owner and operator of the facility at the time of the release; 3) anyone who arranges for the disposal of hazardous waste; and 4) a transporter of hazardous waste.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.