Environment & Climate Change, Austria updates

Environmental Liability: A Hot Topic in M&A Transactions
  • Austria
  • 10 September 2007

In 2004 the European Commission adopted the EU Environmental Liability Directive, which promoted the establishment within the European Union of a uniform legal liability system for environmental damage. As a result, environmental liability issues should attract greater significance, and thus a broader environmental due diligence process with respect to acquisition targets.

Environmental Pitfalls in the Transfer of Industrial Property
  • Austria
  • 03 April 2006

When industrial property is sold and transferred, the parties usually agree on what environmental liabilities are assumed by which party. However, under mandatory public laws the seller remains liable for certain environmental obligations and the buyer becomes liable for other environmental obligations, irrespective of contractual provisions to the contrary.

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