Confidential Consulting Engagement - An Emsource Consulting Engagement

 

PROJECT PROFILE

Client: Confidential
Location: Chicago, Illinois
Cost Range: $25MM

Client Objectives:

  • 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