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ASTM PS6

1994 Edition, November 15, 1994

Complete Document

Provisional Standard Practice for Establishing Secured Creditor Exemption under CERCLA



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Product Details:

  • Revision: 1994 Edition, November 15, 1994
  • Published Date: November 15, 1994
  • Status: Not Active, See comments below
  • Document Language: English
  • Published By: ASTM International (ASTM)
  • Page Count: 6
  • ANSI Approved: No
  • DoD Adopted: No

Description / Abstract:



1. Scope

1.1 Purpose - The purpose of this provisional practice is to establish and document a practice for obtaining the secured creditor exemption under Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). A person who maintains indicia of ownership primarily to protect a security interest in a vessel or facility, and who does not participate in the management of the vessel or facility, is not an "owner or operator" of such vessel or facility under CERCLA Section 107(a)(1) or Section 107(a)(2). The plaintiff bears the burden of establishing that the defendant is liable as an owner or operator.

1.2 Other Federal, State, and Local Environmental Laws - This provisional practice does not address requirements of any state or local laws or of any federal laws other than the provisions of CERCLA's secured creditor exemption. Users are cautioned that other federal, state, and local laws may impose environmental assessment obligations that are beyond the scope of this practice. Users should also be aware that there are likely to be other legal obligations with regard to hazardous substances or petroleum products discovered on property that are not addressed in this practice and that may pose risks of civil or criminal sanctions, or both, or liability for noncompliance.

1.3 Objectives - Objectives guiding the development of this provisional practice are (1) to synthesize and put in writing a good commercial and customary practice for establishing entitlement to the secured creditor exemption, (2) to facilitate high-quality, standardized documentation, (3) to ensure that the standard is practical and reasonable, and (4) to clarify an industry standard for participation in management in an effort to guide legal interpretation of CERCLA's secured creditor exemption.

1.4 Limitations - The use of this provisional practice is strictly limited to the scope set forth in this section.

1.5 Provisional Standards achieve limited consensus through approval of the sponsoring subcommittee.