Posted on Oct 23, 2015 in
Energy/Environmental,
Investigations,
Litigation |
Comments Off on Importance Of Conditions Precedent To Indemnification Demands Highlighted In Pipeline Case
In 1994, an oil and gas company (Company A) sold a pipeline to Company B, which has owned and operated it since. During the sale, the companies entered into a Purchase and Sale of Assets Agreement whereby the parties agreed that any contamination occurring before the agreement’s closing date would be Company A’s responsibility and any contamination after the closing date...