Garfield & Hecht, P.C. Attorney Published in Colorado Lawyer ~ Phase I Environmental Site Assessments
Ron Garfield, Managing Shareholder of Garfield & Hecht, P.C. published an article titled Phase I Environmental Site Assessments – Are they Enough, in The Colorado Lawyer April 2018 (Vol. 47 No. 4). Transactional attorney and lenders often rely exclusively on a Phase I Environmental Site Assessment (ESA) as part of their due diligence. However, this reliance may be misguided, depending on the anticipated future use of the property and the lenders’, tenants’, or purchasers’ expectations. For this reason, it is imperative to ensure that clients understand the scope of the ESA so they can evaluate whether additional due diligence is necessary. Arguably, there is no such thing as foolproof environmental due diligence. Rather, these investigations are about risk management. For more information about this important topic or in regards to any specific transaction where our assistance might be helpful please contact Ron Garfield ().