Author: Eugenio VACCARI, David EHMKE
The paper discusses the treatment of environmental liabilities in insolvency and restructuring frameworks. It compares the German and British approaches – and particularly the rules on disclaimers of environmental liabilities – with the rules and case law from other selected jurisdictions (USA, Canada, New Zealand and Scotland). The paper also refers to alternative mechanisms to avoid the externalization of environmental liabilities on the collectivity.
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