International Risk Group, LLC (IRG) Acquired a 37-acre Property that was Previously Operated by General Chemical Corporation in Denver, Colorado. IRG will be Responsible for the Clean-up of Environmental Impacts and will Support the City and County of Denver in Developing the Property.

Littleton, Colorado – IRG Bayaud, LLC, a wholly-owned subsidiary of IRG, has acquired a 37-acre parcel of land located at 1271 West Bayaud Street in Denver, Colorado. IRG provided environmental insurance, environmental indemnities, and environmental clean-up services for the City and County of Denver (CCOD) to complete this transaction. As CCOD and the former property owner (General Chemical) were unable to come to terms on sale, primarily due to the existing environmental conditions of the site, IRG stepped in to take title to the property along with cleanup obligations for the cotamination. The property was historically the location of ore processing and chemical manufacturing activities since the early 1900’s. As such, soil and groundwater at the site are impacted by low pH conditions and high concentrations of metals. Clean-up of the property includes a soil cap, and groundwater monitoring is required.

IRG was engaged by CCOD to perform the following tasks:

1. Assist General Chemical with development and approval of a Voluntary Clean-up Plan (VCUP) to address soil and groundwater issues in a manner that was acceptable to the Colorado Department of Public Health and the Environment (CDPHE);
2. Obtain environmental insurance, including a Remediation Cost Containment policy, to cover the cost of implementing the approved VCUP and a Premises Pollution Liability policy to address any unknown contamination that may be encountered in the futuere at the site;
3. Acquire the property from General Chemical, including providing the needed indemnities to General Chemical, with the ultimate intention of transferring ownership of the property to CCOD once the VCUP remedy is approved;
4. Implement the approved VCUP and obtain closure from the CDPHE for the soil and groundwater issues; and
5. Integrate the CCOD’s proposed light industrial land use, with the implementation of the approved VCUP remedies to assist CCOD with a rapid redevelopment of the property.

IRG was successful in modifying General Chemical’s approach to the clean-up thus receiving an approved VCUP in May of 2007. On August 24, 2007, IRG took ownership of the property. Throughout the process, IRG has worked closely with CCOD to integrate their development needs with the approved voluntary clean up plan to expedite the development for future use.

International Risk Group, LLC, is an impaired asset investment banking and environmental risk management firm headquartered in Denver, Colorado. The firm specializes in acquisitions, divestitures, mergers, liability assumptions, public to private transfers, valuations and impaired asset advisory services for assets with valuations between $1 million and $1 billion and with liabilities between $1 million and $300 million.

International Risk Group, LLC is located at 7991 Shaffer Parkway, Suite 300, Littleton, CO 80127. Phone: 303.972.6633 Fax: 303.948.4155

Contact Joe Aiken at jaiken@irgco.com for more information.