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Advanced Transactional Due Diligence With ASTM Environmental Assessment Standards

OnDemand Webinar (92 minutes)

ASTM International, a leading standards development organization, publishes numerous guides and practices that can facilitate environmental due diligence for corporate and real estate transactions. Due diligence is often complicated by inconsistent understandings and expectations among stakeholders including buyers, sellers, lenders, insurers and environmental professionals. Because ASTM standards are developed through a consensus process that synthesizes just such diverse viewpoints. They provide due diligence participants with a common frame of reference, clear terminology, and orderly methods. Perhaps best known is ASTM Standard Practice E1527-05 for Phase I environmental site assessment. In addition, however, Standard Practice E1903-11 for Phase II assessments is referenced in EPA brownfield grant guidelines, and other ASTM standards address issues such as post-purchase continuing obligations, vapor encroachment screening and the performance of streamlined "transaction screens." This OnDemand Webinar will explore ASTM standards useful in the due diligence context, provide a unique inside perspective on the standards development process, and highlight recent developments and current initiatives in standards revision.

Authors

Christopher P. McCormack, Esq., Pullman & Comley LLC

Agenda

ASTM Environmental Site Assessment Standards: Overview

  • The ASTM Consensus Process for Standard Development
  • Using ASTM Standards for Site Assessment and Other Due Diligence Tasks
  • 'All Appropriate Inquiry' and Other Benefits for Buyers, Sellers, Lenders and Insurers

Case Study: Phase II Environmental Site Assessment

  • E1903-11 Revision and Republication: Process, Issues and Synthesis
  • Using the Standard
  • Lessons for Getting the Most From Phase II Investigation

Current Developments in ASTM Environmental Assessment Standards

  • E1527-05 Revision: Issues, Resolutions and Status
  • Newer Standards: Continuing Obligations, Vapor Screening
  • E1528 Transaction Screen