You Sold Your Business and You’re in the Clear…..Not So Fast

Written by Steve Henshaw, P.G., President & CEO, EnviroForensics.
As seen in the September 2011 issue of Cleaner & Launderer.

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You worked hard to grow your business and you had the good fortune to sell it for a profit.  You had your lawyer look over the sale contract and you even had the buyer indemnify you for future environmental claims, should they ever arise.  You did everything right and now it’s time to relax and enjoy the fruits of your labor.

Several years pass and one day you get a letter in the mail.  The letter is sent “certified” and you have to sign for it.  You open the letter, it’s from the state environmental regulatory department informing you that as a past owner and/or operator of the sold business, you are responsible for groundwater contamination. Continue reading “You Sold Your Business and You’re in the Clear…..Not So Fast”