United States First Circuit

Judgment in favor of plaintiff-lender in a dispute between defendant-borrower and a plaintiff-lender over various expenses associated with a foreclosure on a parcel of real estate following a loan default, is reversed in part as to the costs associated with environmental testing, where: 1) the cost of the tests that plaintiff-lender conducted prior to March 23, 2011, falls outside of the scope of the Indemnity Agreement because they were not liabilities "sought from or asserted against" plaintiff-lender by a third party; and 2) the Receiver's expenses related to environmental testing fall outside of the scope of the Agreement because they were not costs "required to take necessary precautions to protect against the release of any Hazardous Materials."

Appellate Information

• Decided 11/12/2013
• Published 11/12/2013

Judges

• STAHL

Court

• United States First Circuit

Counsel