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13 Environmental Liability of Lenders

From: Principles of Lender Liability

Parker Hood

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 20 October 2021

Subject(s):
Environmental liability — Criminal liability of lenders — Monetary obligations — Enforcement
13.01 The critical issue for a lender, in environmental matters, is the extent to which it will be liable for the costs of cleaning-up land which is found to be contaminated, where the lender has taken security over that land, and wishes to enforce its security to recover a debt, ie to what extent is the lender (who has not contaminated the land) liable for the actions of a defaulting borrower, or a previous owner, who has contaminated the land and not cleaned it up, or not cleaned up contaminated land. Is the lender, as the last party in the line, liable for the...
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