The intricacies of pursuing environmental claims against financially distressed parties
In a prolonged financial downturn, it is an even more difficult burden for many companies to shoulder their own environmental remediation requirements.Pollock’s article examines the steps to consider if a co-liable potentially responsible party (PRP) is either showing signs of economic distress or has already filed in bankruptcy.
Summary
In a 5 page decision signed May 4, 2011, Judge Walsh of the Delaware Bankruptcy Court held that a proceeding initiated by a Debtor, seeking contribution relating to environmental claims is non-core. Judge Walsh’s opinion is available here (the “Opinion”).
Background
The Hogan Lovells’ Corporate Insurance Newsletter for January 2020 has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue, amongst other items, we cover:
Decoding the code - China's new General Civil Law Rules: the first step towards a comprehensive civil code June 2017 Decoding the code - China's new General Civil Law Rules: the first step towards a comprehensive civil code June 2017 1 Overview and background On 15 March 2017, the People's Republic of China General Civil Law Rules (中华人民共和国 民法总则) (hereinafter referred to as the "GCLR") were formally adopted at the Fifth Session of the Twelfth National People's Congress. The GCLR will enter into force on 1 October 2017.
PARLIB01/ZZZPARP/1030762.3 Hogan Lovells French Legal and Regulatory Update – May 2016 The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for May 2016. Please note that French legal concepts are translated into English for information only and not as legal advice. The concepts expressed in English may not exactly reflect or correspond to similar concepts existing under the laws of the jurisdictions of the readers.
Summary of miscellaneous French draft legislation
• Draft law granting amnesty for acts committed in the course of social movements and trade unions' protesting activities – Filed on
November 28, 2012 – Adopted in first reading by the Senate on February 27, 2013 – A vote for a referral to commission was adopted
during the first session on May 16, 2013.
• Draft law relating to social and solidarity-based economy, n°805 – filed on July 24, 2013 – adopted in first reading by the Senate on
November 7, 2013.
Directors and officers beware. Former directors and officers of bankrupt companies can now be found liable to pay clean-up costs for contaminated sites in Ontario, even if the contamination occurred before their tenure.
Introduction
Bill 68 – An Act to promote Ontario as open for business by amending or repealing
certain Acts (the “Open for Business Act”)1 received Royal Assent on October 25,
2010. It is an omnibus Act which contains more than 100 amendments to existing
legislation spread out across 10 ministries.
On December 10, 2016, Ontario’s Forfeited Corporate Property Act, 2015 (the FCPA), comes into force,1 along with related amendments to the Ontario Business Corporations Act (the OBCA).