"The story of the bank's near miss at being taken to the cleaners is just one example of Jones Walker's multi-tiered approach to assisting clients with complex issues related to contaminated property."

Groundbreaking on an exciting new project revealed a potentially devastating discovery for a national bank. After receiving a clean Phase I environmental site evaluation, the bank purchased prime commercial property from four siblings who had inherited the tract and proceeded with plans to build a flagship bank branch and office. Much to the surprise of the bank, when site preparation began the bank discovered extensive Perc contamination resulting from 30 years of dry cleaning operations on the site. The bank faced a potentially large dry cleaning bill on this project.

The bank called Jones Walker to help unravel the mess, including the bank's exposure to environmental response costs based on its ownership of contaminated property. Jones Walker's environmental attorneys reached an agreement with the bank's Phase I contractor to have it help clean up the property to the satisfaction of the State of Louisiana. Jones Walker helped the bank reach an agreement with the State under Louisiana's new Voluntary Remediation Program (Brownfield Program) that allowed, for the first time ever, a "partial" cleanup, with use restrictions. After completion of the approved remedial work, the State provided the bank, and its future owner, with a release of liability for the property. The bank was then able to sell the property at a favorable price.

At the same time, Jones Walker initiated a CERCLA cost recovery action on behalf of the bank against the former property owners and dry cleaning operators. Because the former owners had inherited the property, the CERCLA action touched on novel issues of CERCLA estate liability. In the end, to the bank's satisfaction, all parties settled.