Lee Hoffman Quoted on Lenders’ Influence Under Connecticut’s New Environmental Cleanup System

Pullman & Comley Chair and Energy & Environmental attorney Lee D. Hoffman was quoted in the Hartford Business Journal article “Banks Emerge as Key Gatekeepers Under CT’s New Environmental Cleanup System,” discussing how lenders are expected to continue playing a major role in environmental due diligence under Connecticut’s newly implemented release-based cleanup system. The article examines how the repeal of the state’s decades-old Transfer Act is expected to affect commercial real estate transactions, redevelopment opportunities and lender oversight of environmental risk.

The article explains that while Connecticut’s new cleanup framework is designed to streamline redevelopment and encourage investment, banks are still expected to require extensive environmental reviews before financing transactions, noting that Lee emphasized the continued influence of lenders in shaping environmental due diligence practices while speaking at a panel hosted by the Connecticut and Western Massachusetts chapter of the Society of Industrial and Office Realtors.

To read the full article, please visit the Hartford Business Journal website.