The following Environment practice note provides comprehensive and up to date legal information covering:
This Practice Note is part of the Environmental transactions asset purchase toolkit. It has been produced in partnership with ELM Law.
If there are known or suspected non-compliance or land contamination concerns, the buyer or ideally its lawyers might instruct an environmental consultancy firm to undertake a phase 1 EHS compliance audit or intrusive phase 2 testing to assess the liability and financial risks.
The table below summarises the different types of environmental audits:
For more information, see Practice Note: Environmental investigations—types of searches and investigations.
The Law Society advises solicitors to carry out desktop searches in all transactions involving property to investigate contaminated land and flooding risks. This includes asset purchase transactions where the target owns or occupies
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