Contamination/Asset Purchase Agreement: Federal Appellate Court Interprets Indemnification Provision | Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.
The United States Court of Appeals for the Seventh Circuit (“Court”) addressed in a March 31st Opinion the indemnification provision of an Asset Purchase Agreement (“APA”) involving contamination that was identified subsequent to closing. See Wisconsin Central Ltd. v. Soo Line Railroad Co., No. 19-3129. One of the questions involved whether a claim had occurred within the meaning of the APA triggering indemnification. In 1987 Wisconsin Central, Ltd. (“Wisconsin Central”) entered int...
United States United States Court Soo Line Railroad Co Wisconsin Department Of Natural Resources United States District Court District Court
Source: jdsupra.com