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Non-Tech : Bank of America

BAC 55.88

+1.1%

Dec 22 4:00 PM EST

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To: Qualified Opinion who wrote (3663)	6/6/2012 9:08:09 PM
From: Sr K	of 4366

Read the history of the Love Canal. arts.envirolink.org Occidental Petroleum bought Hooker Chemical which had sold the land for $1 to a school board. In 1953, after filling the canal and covering it with dirt, Hooker sold the land to the Niagara Falls Board of Education for one dollar. Included in the deed was a "warning" about the chemical wastes buried on the property and a disclaimer absolving Hooker of any future liability. There are loads of precedents for an acquirer to be responsible for the liabilities of the entity it bought, or it's predecessors. Or even an entity bought and sold a few times before the one who had to pay or file Chapter 11. Look into W.R. Grace, and asbestos liabilities.

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