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Rules for Conducting Environmental Due Diligence Slated for Change

June 27, 2004

By David J. Freeman, Thomas R. Mounteer and Desirée C. Giler

U.S. EPA has proposed a new rule for conducting environmental due diligence for purchasers to qualify for defenses to Superfund liability. The rule is referred to as the “All Appropriate Inquiries” Rule.  Congress directed the EPA to adopt the AAI Rule in 2002 amendments to the Superfund statute, which also created new defenses for purchasers of contaminated properties. Comments on the proposed AAI Rule must be submitted to the EPA on or before November 30, 2004.

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Image: Tom Mounteer
Tom Mounteer
Partner, Real Estate Department