Environmental Protection Producer Insolvency and Lender Liability
AbstractThe present paper deals with some legal issues surrounding environmental protection, namely those issues concerning the liability of the different firms and individuals directly or indirectly involved in the generation of environment damaging accidents. We consider in particular the potential effects of extending a firm's liability in case of an environmental disaster to its lenders and financiers when the cost of this liability is too large in relation to the firm's assets. Such extended liability regimes exist or are considered in many countries. The most important case is the 1980/85 Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) in the USA that led to an extensive jurisprudence over the last fifteen years. Nous traitons ici du cadre lÃ©gal de la responsabilitÃ© directe des entreprises lors de dÃ©sastres environnementaux et de l'extension de cette responsabilitÃ© aux prÃªteurs en cas de faillite de l'entreprise. De tels rÃ©gimes existent ou sont Ã l'Ã©tude dans plusieurs pays. Le cas le plus connu est le Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) de 1980/85 aux Ãtats-Unis et nous analysons les principaux cas de jurisprudence auxquels cette loi a donnÃ© lieu depuis 15 ans.
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Bibliographic InfoPaper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 9557.
Date of creation: 1995
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- Marcel Boyer & Jean-Jacques Laffont, 1995. "Environmental Protection, Producer Insolvency and Lender Liability," CIRANO Working Papers 95s-50, CIRANO.
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