CERCLA and Tenants as Bona Fide Prospective Purchasers: Obtaining and Maintaining BFPP Status
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
Environmental
- event Date
Tuesday, August 29, 2017
- schedule Time
1:00 PM E.T.
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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This CLE course will provide guidance to environmental counsel on the steps lessees should take, before and after executing a lease, to qualify for and maintain eligibility for protection as a bona fide prospective purchaser (BFPP) under the EPA’s latest enforcement guidance and actions.
The EPA issued revised enforcement guidance on how tenants leasing contaminated or formerly contaminated properties can utilize the BFPP defense against liability under CERCLA.
Tenants may be held responsible for preexisting contamination under certain conditions. However, the EPA will exercise enforcement discretion on a site-specific basis and treat certain tenants as BFPPs even when the owners of the contaminated property do not themselves qualify for or maintain a BFPP status.
Counsel must understand the necessary requirements and conditions for tenants to obtain or “derive” BFPP status from owners who qualify as BFPPs, even if an owner ceases to qualify as a BFPP.
Listen as our panel of experienced environmental attorneys explains the EPA enforcement guidance and analyzes the steps for lessees to qualify for and maintain eligibility for protection as a BFPP—both before and after executing a lease.
- Liability under CERCLA for tenants
- Overview of the BFPP defense
- Derivative BFPP status for tenants
- Direct BFPP status for tenants
- Comfort/status letters
- Best practices for tenants to obtain or maintain BFPP status
The panel will review these and other key issues:
- How can tenants become responsible for preexisting on-site contamination?
- How can tenants obtain direct BFPP status?
- How can tenants obtain derivative BFPP status?
- How can tenants obtain a comfort/status letter from the EPA?
