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The Second Circuit Limits Corporate Successor Liability Under Superfund
Under the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA" or Superfund),1 any "person" who is the present or past owner or operator of a contaminated facility or a generator of hazardous substances that are polluting a facility, is liable for the costs of cleaning up...
Read MoreWorldCom, MCI And The Second Circuit's Substantive Consolidation Doctrine: Asserting Creditors' Rights In The Largest Bankruptcy Case In History - Part II
Editor: Would you recap for our readers the events leading up to the fight over substantive consolidation in WorldCom? Mayer: The accounting fraud perpetrated by WorldCom prior to its bankruptcy is well known. Less well known is the drama that unfolded following the bankruptcy filing - a multi-...
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