Sonford Co.

Superfund liability rulings give lenders cause for optimism. (lenders not liable for environmental cleanup) (Column)
American Banker; 7/13/1993; 1792 words; ...Question The case, Ashland Oil Inc. v. Sonford Products Corp. et al., involved a lawsuit...owners of Auto Specialties Manufacturing Co. and its lender, Manufacturers National...Site Trust v. State Street Bank and Trust Co., a private cost-recovery action was...

Tide may be turning to banks in lender liability lawsuits. (Column)
American Banker; 5/25/1993; 1445 words; ...an environmental cleanup cost estimated at $10 million. According to attorney involved in the case, Ashland Oil Co. v. Sonford Products Corp., the court's decision strongly suggests that a lender is now shielded from liability under Superfund...

Two wins, one loss for banks in environmental debate. (federal court rulings on lender liability for environmental cleanup costs)
ABA Banking Journal; 3/1/1993; 2189 words; ...bankrupt. The lender held title to Sonford's assets for about a month...costs on the land leased by Sonford and others, sued the lender...management of either Park Penta or Sonford or exercise any decisionmaking...Auto Specialties Manufacturing Co., owned by the Tiscornia family...

'Safe harbor' limits lender liability. (Environmental Protection Agency rule)
National Underwriter Property & Casualty-Risk & Benefits Management; 1/25/1993; 1629 words; ...court decision, Ashland Oil Co., the owner of the polluted...Financial Corp. loaned money to Sonford Products Corp., one of...took a security interest in Sonford's assets, including inventory and equipment. When Sonford filed for bankruptcy in 1982...

Lender wins cleanup case. (Industry Financial Corp. released of liability in Ashland Oil Co. cleanup case) (Brief Article)
American Banker; 1/19/1993; 803 words; ...when a borrower went into bankruptcy proceedings. Ashland Oil Co., which owns the Minnesota property and leased it to the borrower...cleanup costs. The Minnesota decision, in Ashland Oil v. Sonford Product Corp., "is good for lenders," said Gregory A...