Environmental Services
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Introduction
Research
Analysis of the Technical/Financial Components of Potential
Environmental Liabilities
Consulting and Testifying Expert Witness
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Introduction
CARCO provides comprehensive research, investigation, analysis,
and support services to a variety of industry and government
clients, and their counsel, involving the evaluation of
potential environmental liabilities, as a result of:
Cost
Recovery Actions: Comprehensive Environmental Response,
Compensation, and
Liability Act
(CERCLA) and insurance coverage.
Property
Transfer/Environmental Due Diligence/Phase I Assessments:
Ranging
from single to
multiple property transfers associated with complex
corporate
mergers,
acquisitions,
and divestitures.
Negotiation
and Litigation: Consulting and testifying expert
witnesses.
Developing
accurate, factual information is the cornerstone of
CARCO's
success.
CARCO has evaluated numerous complex environmental matters,
involving more than 3,000 industrial and landfill sites located
nationwide, asserted by companies with potential environmental
liabilities exceeding billions of dollars. Common to these
engagements is the need for accurate, detailed information,
received in a timely manner, at a competitive price.
Our team of experienced researchers, investigators, accountants,
analysts, and environmental scientists embrace the wide range of
skills necessary for the prompt and thorough identification of
potential environmental liabilities associated with residential,
commercial, and industrial properties.
Our service philosophy, anchored by the assembly of an
engagement team of insightful and dedicated professionals, is to
respond effectively to issues specific to the needs of our
clients. Each member of the team brings their unique skills and
experience to each project.
CARCO strives to provide historical, technical, and financial
information support in a timely, confidential, cost-effective
and user-friendly manner. Timelines, schedules, flow charts and
link analysis' are provided to reduce the need to generate
volumes of text. Prima facie documentation is included to
support analysis and findings.
Over the past several years, our experienced environmental
scientists and forensic accountants, as well as researchers and
investigators, have continued to develop new services and
capabilities, designed to meet the changing needs of our
clients.
CARCO has combined the ability to conduct the historical,
factual site research and analysis with the capability of
analyzing the technical components of environmental
contamination and remediation as well as projecting cost
allocations for various scenarios.
Our environmental services are broadly comprised of:
Research
- Identification and location of relevant documents (desktop
or field
investigation);
Analysis
- Development of work product to synthesize the historical,
technical, and
financial
aspects of potential liabilities;
Expert
witness - Consulting and/or testifying services
regarding findings and opinions.
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Research
CARCO independently develops information regarding the facts and
circumstances of the alleged environmental contamination,
including the historical context and current status of the
remediation, in order to serve as a basis for the confirmation
estimation of potential environmental liabilities.
CARCO excels in identifying and locating documents and
repositories necessary to develop information on:
Historical
site operations
Waste handling
practices
Potential
sources of contamination
Historical and
current regulatory involvement
Nature and
extent of environmental contamination
Current
remedial status
Former
vendors, property owners, regulators and site employees - it
is estimated that
CARCO investigators have interviewed in
excess of 5,000 potential witnesses in
dozens of
environmental cases.
Information is
used to construct a complete and accurate picture of site
operations and alleged contamination through time. For example,
tasks may include:
Research at
appropriate regulatory agencies (Federal, state and local)
as well as other document repositories including state and
local government agencies, historical societies and
libraries.
Civil review
to identify litigation pertaining to environmental damage,
including insurance recovery.
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Analysis of the Technical/Financial Components of Potential
Environmental Liabilities
In addition to the review and analysis of provided
documentation,
CARCO offers independent analysis of the scientific
and financial elements comprising the alleged damages.
CARCO
identifies non-recoverable costs, defined in conjunction with
the client and counsel, by evaluating technical and financial
components used to develop the estimate of potential
liabilities. For example, tasks may include:
Comparison of
reported remediation expenditures as set forth in various
public records, annual reports, and regulatory documents
(i.e. state/federal environmental regulators and U.S.
Securities and Exchange Commission 10-k filings).
Identification
of other sources of potential recoveries (i.e. other
potentially responsible parties, utility rate recovery
actions).
Audit of
invoices and supporting financial documentation (working in
consultation with investigators and scientists to confirm
the historical and technical context of expenditures).
Evaluation of
the basis for incurred and estimated potential liabilities,
including but not limited to consistency of incurred costs
with the National Contingency Plan (NCP), if appropriate.
Identification
and removal of non-recoverable costs, including compliance
and normal unit closure expenditures and non-remedial
activities.
Identification
and revision of allowances and cost multipliers in estimated
potential remediation costs.
Estimation of
costs associated with the selection of alternative remedies
and length of operation and maintenance (determined in
conjunction with CARCO's technical evaluation of the nature
and extent of contamination).
Evaluation of
present value methodology (including identification of
reviewed inflation and discount rates to reflect "real
world" opportunities).
Preparation of
allocation framework to assist in the successful resolution
of the matter by developing a model to assign estimated
potential liabilities to responsible parties in a fair and
equitable manner.
Development of
allocation modeling for primary, excess, and reinsurance
carriers, understanding that each insurance coverage program
is unique. Experienced insurance and financial
professionals, familiar with coverage issues, can tailor the
allocation model to meet the specific demands of each case
based upon consultation with coverage counsel and the
insurance claim manager.
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Consulting and Testifying Expert Witness
The foundation of our capabilities in analysis and evaluation of
potential environmental liabilities lies in the fact that
CARCO
has retained qualified investigators, environmental scientists,
accountants, and insurance professionals capable of serving as
experts during both negotiation and cost recovery actions.
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