Confidential Consulting Engagement - An Emsource Consulting Engagement
Location: Chicago, Illinois
Cost Range: $25MM
- Cap total financial exposure to remediation, long-term care, and real estate carrying costs. Extinguish balance sheet liability as part of financial restructuring and initial public offering. Unwind an over-funded reserve.
- Transfer responsibility for remediation to a third party that would execute the remedial work plan and implement the long term management obligations.
- Reduce corporate tension with regulators and re-focus internal resources on regulatory compliance at operating facilities.
- Realize latent real estate value of the property in post-remediation condition.
RISK TRANSFER PROGRAM
Category: Petroleum Refining
Project Insurance Limits:
- Remediation Stop-Loss Limits: $25 million; 10-year term
- Pollution Legal Liability Limits: $15 million; 10-year term
Emsource Partners & Contractors:
- Remediation Contractors: URS Corporation
- Insurance Broker: Aon, Inc.
- Environmental Insurance: Liberty International
- Regulatory Agency: Illinois EPA