Richards Layton & Finger
 

Tank Trap? Lender Liability Reform and Expanded Scope of Underground Storage Tank Liability for Owners and Operators

Summer 2014

In the 2013 legislative session, Delaware adopted environmental lien legislation authorizing the Delaware Department of Natural Resources and Environmental Control (“DNREC”) to impose environmental liens on real property to recover its cleanup costs. Left unresolved in 2013, but addressed in the recently concluded legislative session, is the broader topic of lender liability for environmental conditions at sites that have been impacted by hazardous or regulated substances.

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