Status:
CURRENT
ERT was approached by the proposed seller of the stock in a company with seven manufacturing sites, six in the eastern United States and one in Europe. The buyer was unwilling to accept environmental risk for known pre-existing conditions, which included PFAS contamination.
The parties settled on an indemnity structure whereby ERT assumed liability for known conditions at all seven sites for a significant term of years. The buyer was willing to close based on ERT’s indemnity.