Lenders Exhale: Qualex overturned on appeal, confirming the application of Redwater

Talia Gordner, Adam Maerov and Ryan Johnson of McMillan note that while the recent Court of Appeal decision in Qualex has curtailed the reach of the super priority claim for the environmental regulator, lenders should still exercise thorough due diligence when taking security in real property and incorporate appropriate environmental representations and warranties in agreements.

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