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Understanding the New ASTM E 1527-05 standard.

Although an innocent landowner defense was added to CERCLA when it was amended in 1986, that defense was only available to property owners with no knowledge of the presence of hazardous substances when they bought the land. Also, the EPA could always argue that even if the owner [...]

If there is one matter that may subject a lender to nearly unlimited liability, it is the handling of hazardous substances. If a lender takes an active role in decisions relating to the disposition of hazardous wastes, or if the lender tells management that it cannot take certain actions with regard to environmental compliance, that lender may lose its exemption from liability. [...]