Environmental claims and liabilities in insolvency and restructuring

This article was originally published by INSOL International, April 2024 and is reproduced with permission from the publisher.

Environmental regulation and sustainability issues are increasingly a focal point of today’s global economy. Mounting concerns regarding topics such as global warming, climate change, and cleanups have spurred new laws and regulations in both developed and developing economies, and have created new obligations for both companies and individuals.

The interplay between a country’s developing environmental regimes and its insolvency regime – including the importance of environmental protection, maximization of returns for creditors, and the ability to restructure distressed entities – are at the center of INSOL International’s newest publication, Environmental Claims and Liabilities in Insolvency and Restructuring.

In conjunction with INSOL International, DLA Piper and its partner firms from 22 countries contributed chapters specific to each jurisdiction’s environmental and insolvency regimes. Among other topics, each chapter explores the country’s key laws and regulations relating to cleanup and remediation responsibilities, carbon emissions, climate risk management and disclosure, and personal liability for company officers arising from a breach of environmental duties and responsibilities.