Legal

A Little Something About Proof of Insurance (This Article Confers No Rights Upon the Reader)

Although maintaining insurance on equipment is usually a mandatory provision of financing agreements, the disclaimer language used on proof of insurance forms seems to render the certificates worthless. To help lenders protect their interests, Ken Weinberg discusses the different types of insurance certificate forms and specific items to monitor on each certificate.... read more

Stipulate — and Lose? The Danger of Relying on Casualty Values

A recent Bankruptcy Court oral decision has cast doubt on using casualty values in a default context. Stephen Whelan provides background on this turn of events and offers an improved solution for lessors to calculate damages and stipulated loss values.... read more

What is the State of California Up To? Proposed Amendments Harmful to Business

One of the purposes of the California Financial Law is to ensure an adequate supply of credit to borrowers in the state, but Andrew Alper argues the law — and proposed amendments — are harmful to business. He dissects newly-introduced legislation, which could significantly affect lenders and brokers.... read more

Blockchain: The Next Big Thing for Equipment Finance?

Blockchain technology, an esoteric topic a few years ago, has worked its way into the mainstream. Blank Rome’s Keith Letourneau and Stephen Whelan provide an overview of this distributed ledger technology and discuss how it could be used in equipment, commercial and trade finance transactions.... read more

Six Ways From Sunday: How to Handle Conflicting Liens

Sometimes a UCC search will reveal a conflicting lien on equipment to be financed. Ken Weinberg reviews several approaches to address this common issue while preserving lenders’ rights.... read more

A Good Road is Paved with Fixed Intentions: What Do Your Documents Say About Fixtures?

Which types of equipment can be considered fixtures? Ken Weinberg says there are many ways to answer that question and discusses the importance of establishing intention about the fixture status of a piece of equipment in a lease or finance agreement.... read more

Hardwick v. Wilcox: Release Ineffective for Usury Claims

Andrew Alper examines usury and discusses paths to exemption available for lenders using the Hardwick case as an example to demonstrate that having a borrower sign a general release may not always release the borrower’s right to file a usury claim against a lender.... read more

The B-B-Billion Dollar Mistake: Remember to Take a Deep B-B-Breath Before Touching Financing Statements

Gather around the campfire as Ken Weinberg tells the tale of the billion dollar mistake, a cautionary truelife horror story that reinforces the importance of financing statements. These documents often do not receive the attention they deserve, which can lead to disastrous consequences.... read more

Choice of Law Clauses: Not Enough to Avoid Jury Trial?

Although many commercial contracts contain pre-dispute choice of law clauses, they are not always enforced due to conflicts with public policy. Attorney Andrew Alper reviews several cases with different outcomes which address this issue.... read more

Don’t Be an April Fool: How to Avoid the Hague Hangover

Stephen Whalen examines how the Hague Convention will affect the equipment finance industry. He urges those who use securities accounts for securitization transactions, portfolio sales or security deposits to familiarize themselves with the new rules before they go into effect on April 1.... read more

Is Your Chattel Paper All Wet? An Even Deeper Dive Into the Super-Priority of Possession

In the second installment of a series on chattel paper, Attorney Ken Weinberg scuba dives into the two distinct super-priority rules relating to proceeds interest and non-proceeds interest.... read more

Is Your Chattel Paper All Wet? A Deep Dive Into the Super-Priority Rule

In the first installment of a two-part series, Ken Weinberg dissects the super-priority rule as it relates to possessors and filers of chattel paper, examining the key requirements of new value and possession.... read more

Automatic Stay in Bankruptcy: What Chicora Life Means for Lenders

The recent Chicora Life case has provided additional law for debtors and guarantors to cite as authority when attempting to stay the lender from proceeding against a guarantor. Attorney Andrew Alper examines this case and the history of the automatic stay in bankruptcy proceedings.... read more

California Finance Lenders Law Licensing Compliance for Equipment Leasing Companies

If you are doing business in equipment leasing and finance in California, there are some additional requirements you must meet under the California Finance Lenders Law. Attorney Alan Abergel explains the complexities. ... read more

Chasing Crooks: Successor Liability and Transfers of Trust

Attorney Ken Weinberg teaches equipment lessors how to protect their companies from crooks, particularly those who enter into a legitimate transaction only to later attempt to defraud creditors by transferring assets from an original lessor to another entity.... read more

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Terry Mulreany
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