Financing a property or business with substantial environmental issues may present formidable challenges, whether they be concerns with contaminated collateral or regulatory compliance. We have worked with lenders and borrowers to craft creative solutions to these challenges.
Lender Liability Protections: MGKF attorneys have assisted lenders in developing and implementing lending and foreclosure policies that enable them to secure the liability defenses available under both state and federal cleanup laws. These defenses generally shield lenders from cleanup liability, provided their activities are limited to those that fall within the scope of traditional lending practices and the taking of measures to protect their security interests pursuant to applicable safe harbor requirements.
Lender Loan Policies: Lenders have also enlisted our help in crafting lending policies to minimize the likelihood that the lender will have to clean up a property to protect the value of its collateral (regardless of whether it qualifies for a lender liability defense), and in evaluating potential loans consistent with these policies. Such policies typically include the performance of appropriate environmental due diligence, which we have overseen for lender clients, and securing environmental insurance.
Borrower Issues: On the other side of the loan transaction, we represent borrowers in addressing lender concerns with contaminated collateral, negotiating indemnification and escrow documents, obtaining lender insurance policies and, where appropriate, working with the borrower to craft internal operating procedures satisfying the lender that the borrower is operating so as to avoid government enforcement exposure that could jeopardize the loan.
Governmental Redevelopment Financing: Many brownfields projects secure financing for investigation and cleanup activities through the assistance of local and county redevelopment authorities. We have represented private clients in securing such financing and agencies with programs that provide or facilitate the financing. Our attorneys have also served as board members for several agencies, including the Montgomery County Redevelopment Authority and the Pennsylvania Infrastructure Investment Authority (PENNVEST), a statewide agency that provides low-interest infrastructure loans.
- New Jersey Court Holds Property Buyer’s Consent to Institutional Controls is Binding on Subsequent BuyerDecember 15, 2021MGKF Litigation Blog
- Manko, Gold, Katcher & Fox Included in 2022 U.S. News – Best Lawyers® “Best Law Firms” National RankingsNovember 4, 2021
- August 19, 202117 Manko, Gold, Katcher & Fox Attorneys Listed in 2022 Best Lawyers and Ones to Watch
- June 14, 2021
- May 24, 2021
- Manko, Gold, Katcher & Fox to Receive the 2021 H. Robert Fiebach Award for the Promotion of Women in the LawMay 4, 2021
- May 3, 2021
- Manko, Gold, Katcher & Fox Included in 2021 U.S. News – Best Lawyers® “Best Law Firms” National RankingsNovember 5, 2020
- October 23, 2020
- Bruce Katcher Named the Best Lawyers® 2021 Environmental Law “Lawyer of the Year” in Cherry Hill, NJAugust 20, 202016 Manko, Gold, Katcher & Fox Attorneys Included in Best Lawyers 2021 and Four Named to Inaugural Ones to Watch List
- June 8, 2020Gotanda, McCabe, Moshang and Schiller Included in Top 50 Women Pennsylvania Listing
- April 30, 2020
- January 6, 2020
- Manko, Gold, Katcher & Fox Included in 2020 U.S. News – Best Lawyers® “Best Law Firms” National RankingsNovember 4, 2019
- September 26, 2019
- October 1, 2022Pennsylvania State ChapterPublished semi-annually by Matthew Bender