Lesley Anne Hawes dissects two Chapter 7 bankruptcy-related cases centered on temporary administrative freezes on debtor funds in bank accounts and their dramatically different outcomes.... read more

March/April 2015

In part two of this two-part series, Kenneth P. Weinberg and Jennifer L. Howard continue their discussion of collateral descriptions in security agreements. Touching on limiting verbiage, timing considerations and collateral type changes, they recommend careful review to make sure you come up smelling like a rose when your lien is challenged.... read more

Jan/Feb 2015

Anthony Lamm continues his discussion on issues that arise from the Dodd-Frank Act and how local, state and federal laws apply to different lease transactions. Of particular importance is determining the nature of the lease as an entity and which state statutes apply to the transaction to help govern the transaction’s characterization as either commercial or consumer.... read more

Jan/Feb 2015

In January, JPMorgan Chase lost a court battle with General Motors’ creditors’ committee regarding the accidental termination of JPMorgan’s UCC securing a $1.5 billion loan. Ruskin Moscou Faltischek attorney Jeffrey A. Wurst dissects the resulting court cases surrounding the notorious GM bankruptcy and resulting fallout from JPMorgan’s costly mistake.... read more

2015

Christian A. Klein, vice president of Government Affairs at Associated Equipment Distributors, says 2014 was a busy year, and we can expect more of the same in 2015. With the federal highway program, tax code reform and regulatory bureaucracy still topping the priority list, Klein stresses industry-wide engagement as a key component to getting the job done in Washington.... read more

Nov/Dec 2014

The Lamm Group Managing Partner Anthony L. Lamm explains how the Dodd-Frank Wall Street and Consumer Protection Act not only defines commercial transactions, but how it also may change what was considered a commercial transaction to a consumer transaction.... read more

Sep/Oct 2014

Since a guaranty is nothing more than a contract, standard logic would dictate applying the concept of consideration to guaranties. However, because a guaranty involves multiple parties (guarantor, borrower and lender), the analysis can be more complex.... read more

July/August 2012

In late July 2011, the U.S. District Court for the Eastern District of Pennsylvania published a 37-page long decision granting summary judgment for an equipment lessor on various defenses and counterclaims raised by three business lessees of telephone equipment. De Lage Landen Fin. Services, Inc. v. Rasa Floors stands as a thorough and recent analysis of the maturing law on the general enforceability of finance leases, as promoted by UCC Article 2A.... read more

January/February 2012

A PMSI is a useful arrow in the quiver of many equipment finance companies. Still, no legal weapons or tools are 100% effective. It is crucial, therefore, for a PMSI lender to have a good understanding of the requirements of a purchase money security interest and to maintain adequate records evidencing that those requirements have been met. Carefully drafted documents are a must.... read more

November/December 2011

In this edition of Tipping the Scales, Andrew Alper discusses a recent case involving a forum selection clause where the court held the clause was enforceable, and parties that litigate a case extensively cannot attempt to move the case to a different forum at a later date. The article also explores arbitration clauses and the importance of either using them or losing them.... read more

November/December 2011

Among the challenges we face in selling leasing to business executives who are unfamiliar with sophisticated equipment financings is the task of explaining how our equipment leases differ from a vendor lease or a vendor-financed installment sale financing. This article will touch on some of the aspects of third-party equipment financings and the explanations and arguments that might be presented to the uninitiated and his or her lawyers. ... read more

October 2011

In the Matter of Lothian Oil Inc., the Fifth Circuit concluded that the power to determine claims in bankruptcy under §502 of the U.S. Bankruptcy Code is not limited to merely allowing or disallowing the claim, but can include the power to determine the proper treatment of the claim, including recharacterization of the claim as debt or equity. More important for creditors, the Fifth Circuit rejected as a matter of law the claimant’s contention, and the ruling of the district court, that recharacterization of a debt as equity is only available as a matter of law with respect to a claim held by an insider.... read more

October 2011

A lessor contemplating a finance transaction in Indian country should exercise due diligence by consulting with counsel familiar with tribes and tribal law, waivers of sovereign immunity, and their effect on the finance transaction. Ultimately, it is a business decision whether to lease or finance equipment to a tribe, tribal entity or tribal member where the equipment will be on a reservation. Understanding the issues surrounding such a decision is the first step toward a successful transaction.... read more

October 2011

The filing of an involuntary bankruptcy petition by a creditor can be a very useful tool for a creditor to collect money from its recalcitrant debtor. But given some new cases, maybe a creditor should give the filing of an involuntary bankruptcy proceeding a second thought. ... read more

September/October 2011

The last edition of Dispatches From the Trenches discussed the Article 9 concept of attachment. In this edition, Ken Weinberg discusses the four primary ways in which an attached security interest may be perfected — filing, possession, control and automatic perfection.... read more

July/August 2011