First Environment was retained as an expert witness on a litigation case involving the failure of an acquiring company to adequately fund an environmental indemnity agreement related to the purchase of basic/specialty chemical manufacturing company located in Newark, New Jersey. The indemnity called for the reimbursement of liabilities and defense costs relating to a site where dioxin had contaminated a chemical production facility as well as a large tract of the Passaic River. The overall site consisted of more than 17 miles of study area within the river and eight miles of bank to bank remediation. First Environment developed expert opinions regarding the obligations of the parties under the stock purchase agreement, indemnity agreement, contribution agreement and subsequent buy-out agreement to properly and accurately value the scope and cost of the cleanup work at the Site and the river and the valuation of Natural Resource Damages related to loss of use and restoration. First Environment reviewed the due diligence and valuation techniques employed by the purchaser and compared them to standards that should have been employed at the time of the transactions. First Environment also opined on a series of asset transfers that were designed to side step current environmental laws and divert funds away from the environmental liabilities.