United States v. Fleet Factors Corp.

Fleet Factors Corporation (Fleet) (defendant) served as secured creditor for Swainsboro Print Works (SPW) under a factoring agreement. After SPW went out of business and Fleet stopped advancing funds, Fleet foreclosed on some of SPW's inventory and hired outside contractors to auction and remove SPW's remaining equipment. The EPA later discovered hundreds of drums and truckloads of hazardous material at the facility and sued SPW's officers and Fleet for cleanup costs. Fleet sought summary judgment based on CERCLA's exemption for secured creditors who do not participate in managing the debtor's facility, but evidence showed Fleet had set prices for excess inventory, processed SPW's employment and tax paperwork, and controlled who could access the facility.