Managing Risk in Structured Equipment Finance... Both an Art and a Science
By Robert Wille, Executive Vice President, RBS Asset Finance
The reality is that every deal is different. In the end, asset financiers need to look at what works for their risk appetite and what is reasonable for the company. Mitigating risk clearly is both an art and a science that can be mastered by industry knowledge, asset knowledge and experience. (Ref # STF002)

Understanding Some of the Finer Points of Canadian Aircraft Finance
By Merie-Anne Beavis and Robert Borduas, Partners, Ogilvy Renault LLP
The body of Canadian law applying to aircraft financing differs in many respects from its U.S. equivalent. This article focuses on three areas of the law that play an important role in determining the structure of aircraft financing in Canada: Canadian Aviation Regulations, personal and movable property legislation, and taxation.

A New Strategic Option:
Growing Liquidity in Secondary Market Improves Profitability
By Kingsley Greenland, CEO, DebtX
Over the past several years, a rapid increase in the liquidity of lease financings has turned these once-illiquid instruments into tradable commodities that can now be bought and sold in an efficient market. (Ref # CMRK004)

Fitch Ratings: 2004 Review & 2005 Outlook
for U.S. Commercial Finance & Leasing Companies (Part II)
By Philip S. Walker, Jr, Senior Director, Fitch Ratings Financial Institutions Group
For 2005, Fitch Ratings' overall outlook for the commercial finance and leasing company is stable. The most notable change has been the virtual disappearance of the diversified commercial finance company business model with only CIT and GE Capital remaining in the industry. (Ref # CRD071)

COLUMNS


PROFILE OF SUCCESS
DLL's Approach to Risk Management... Teamwork Is the Key to Success
By Lou Maslowe, SVP-Risk Management, De Lage Landen
Risk management can be defined as the process of identifying, assessing and controlling risks arising from credit and operational factors, and making decisions that balance risk cost with mission benefits. From a leasing industry perspective, risk management is key to successful business operations and provides a clear outlook towards potential opportunities. (Ref # PRP002)

DOING IT RIGHT... THE FIRST TIME
Preparation, Preparation, Preparation...
The Keys to Effective End-of-Lease Negotiations
By Steve Harwood, President, Cypress Financial Corporation
When you buy a house, everyone says it's about three things - location, location, location. Similarly, when it comes to end-of-lease negotiations, the three most important things to consider are preparation, preparation, preparation. (Ref # LPR007)

LEGAL WATCH
Ninth Circuit Limits Powers of Assignees for Benefit of Creditors
By Lesley Anne Hawes, Partner, Frandzel Robins Bloom & Csato, L.C.
The impact of the recent Sherwood Partners decision — a recent case before the Ninth Circuit — may extend to other California statutes and to other states to the extent other states have enacted statutory preference avoidance laws. On the other hand, courts of other jurisdictions may adopt the dissent's position that the two preference avoidance schemes can "peaceably coexist." (Ref # LGL1044)

ALTERNATE PERSPECTIVES
The “Other” Credit Crunch —
Imparting Training & Experience to the New Kids on the Block
By Michael A. Toglia, Senior Vice President, Molloy Associates
"Experience without theory is blind, but theory without experience is mere intellectual play." This quote seems to capture what many hiring managers experience daily in the hiring process, the search for the perfect candidate, one with both extensive training and relevant work experience. (Ref # HUM009)

DISPATCHES FROM THE TRENCHES
Leasing & the Law: Case Law Offers Important Lessons for Leasing Companies
By Kenneth P. Weinberg, Esq., Baker, Donelson, Bearman, Caldwell & Berkowitz
This issue of Dispatches from the Trenches examines some intriguing court cases to ask: (1) Can a contract disclaim the facts that form the basis of another party's fraudulent inducement claim? (2) What happens to lenders that repossess the wrong collateral? (Ref # LGL1045)