We can help. Our environmental and real estate team just closed on the transfer of an underutilized contaminated former industrial property to a properly vetted Brownfield redeveloper who assumed all of the environmental liabilities associated with the site. The assumptions were backed by a collateral stack of (i) an environmental remediation trust; (ii) a corporate parental guaranty; (iii) specialized environmental insurance products including PLL and excess indemnity policies.
Our client was able to off-load this property which had become a burden on its books and was able to layer in environmental coverages for the "sleep at night" factor. A special shout out to the expert brokers at Marsh who interacted with the markets and helped us get this result for our client.
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