Emsource Blue Hill LLC - An Emsource Risk Transfer Project
Client: Kerramerican, Inc.
Location: Blue Hill, ME
Cost Range: $8-13 Million
- Cap all management, remediation and long term maintenance costs associated with a former mine site in Blue Hill, ME
- Transfer environmental liability and management responsibility to Emsource, the entity responsible for regulatory compliance
- Cap the financial risk of cost overruns and insure against regulatory uncertainty.
- Obtain a liability release in a consent decree entered in federal court with the Maine DEP
- Pursue cost recovery from other PRPs
- Dissolve Kerramerican knowing that all future environmental obligations will be honored and managed.
RISK TRANSFER PROGRAM
Risk transfer mechanism: Consent Decree entered in Federal District Court governs cleanup of former mine site. Decree releases Client and transfers obligations to Emsource Blue Hill LLC.
Project Insurance Program:Comprehensive Environmental Insurance Program blending Remediation Stop Loss and Pollution Legal Liability Cover.
Emsource Blue Hill Project Team:
- Project manager: Outcome Engineering
- Environmental Engineers: Sevee & Maher
- Geologists: C.A. White & Associates
- Remediation Construction: R.F. Jordan
- Project Surveyor: Herrick & Salsbury
- Environmental Insurance: Chartis Environmental
- Trust Fund Administrator: TD Banknorth Wealth Management
- Legal Advisors: Verrill Dana
- Regulatory Oversight: Maine DEP