Financial Assurance for contaminated sites
It should no longer be a surprise for a CPU, based on active risk management measures, to include at least a modest amount of financial assurance.
View the post titled Financial Assurance for contaminated sitesFinancial Assurance after business closes
An MOE order for financial assurance can be enforced even after the business has closed and been evicted from its premises, and even without a full hearing by the Environmental Review Tribunal. The ERT had enough evidence to know that the cleanup would cost much more than the existing financ…
View the post titled Financial Assurance after business closesHungarian sludge spill and our tailings ponds
The Hungarian sludge spill disaster is just another reminder of the large scale havoc and devastation that industrial sludge impoundments can create. Every few years we read about another one. On April 25, 1998, a tailings dam failure of the Los Frailes lead-zinc mine at Aznalcóllar near Sev…
View the post titled Hungarian sludge spill and our tailings pondsMaking parent companies pay: a sting in the tail of approval reform
This should add some surprising complications to a wide variety of transactions.
View the post titled Making parent companies pay: a sting in the tail of approval reformFinancial assurance: what counts?
Detox appealed the Ministry demand for $100,000 in financial assurance for transportation accidents relating to PCBs. As Detox pointed out, it holds $5 million of vehicle insurance, to cover precisely the same sort of accidents, and the MOE's amount, $100,000, was almost certainly inadequ…
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