Insolvency Case Study
A large semi-rural development site owned by an ongoing business (in administration) was considered an unattractive investment due to significant uncertainties relating to the sites long industrial past as a fertilizer and miscellaneous process manufacturing facility. Further to this the local authority indicated that it intended to determine that the site was declared contaminated land, further reducing the potential value of the asset under management.
Our Experts Approach
Working with a leading UK Insolvency Practitioner (IP), our expert developed and implemented a strategy offering cost effective certainty regarding the surface areas of the site. This enabled the IP to better understand whether the site was likely to be subject to regulatory action. Further to this the site assessment strategy was developed in collaboration with a potential buyer to ensure that remaining environmental liability uncertainties were also addressed in parallel.
Certainty and confidence developed, demonstrating that the site (in its current undeveloped state) did not pose a level of risk such that it met the legal definition of contaminated land. In the absence of the threat of regulatory enforcement, the IP was free to focus on divesting the asset to interested parties.
Services provided by our experts
- Environmental liability assessment
- Rapid soil contamination assessment
- Human health risk assessment & environmental compliance assessment
- Project management