Drafting a choice of law provision is not as easy as it seems if you assume the Uniform Universal Code (UCC) is ‘universal’ in all states. But it isn’t. Therefore, one needs to be extra vigilant in writing these provisions to ensure the outcome isn’t different from what was intended.... read more

March/April 2008

The last installment discussed the possibility of a lessor of vehicles being unable to rely on a lien notation on the Certificate of Title for purposes of perfection. This article continues this theme by discussing other issues related to inventory financing.... read more

January/February 2008

The influential Second Circuit Court of Appeals has become the latest federal circuit court to add its voice to the interpretation of a key provision upon which creditors can seek a determination that a debt is non-dischargeable in bankruptcy.... read more

January/February 2008

Capping a drama that reads more like a Hollywood script than a case of white-collar crime, federal agents in California closed a months-long undercover operation in November, pulling the lid off what prosecutors say was a nationwide lease-fraud racket.... read more

January/February 2008

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November/December 2007

This installment discusses liquidated damages under true leases. Ken Weinberg provides three cases: In re Baldwin Rental Centers, Inc., Carter v. Tokai Financial Services, and In re Montgomery Ward Holding Corp. as examples of the complexity of liquidated damages clauses.... read more

November/December 2007

Monitor columnist Andrew Alper discusses §105 of the Bankruptcy Code and how the courts determine if it is possible to use a stay to prohibit litigation of a nondebtor’s claims. Whether the court decides to extend a bankruptcy case depends on the facts. Alper provides examples to explain why this is a common occurrence.... read more

November/December 2007

The United States Supreme Court yet again reversed a decision of the Ninth Circuit Court of Appeals and resolved a conflict among the circuit courts regarding the allowance of attorneys’ fees in bankruptcy litigation. Columnist Lesley Hawes discusses the court’s process in the case of Travelers Casualty & Surety Co. v. Pacific Gas & Electric Co., and how this decision will affect future litigation.... read more

October 2007

Lessors of over-the-road trucks may find themselves becoming inventory lessors. This installment warns lessors to keep a close eye on certificates of title when another party is subleasing leased trucks. To sublease, Weinberg says, requires more due diligence than simply noting your interest on a certificate of title.... read more

October 2007

In August, a federal grand jury filed numerous charges including money laundering, bankruptcy fraud and obstruction of justice against Alan B. Fabian, the founder of Strategic Partners International and a former co-chair to Republican presidential hopeful Mitt Romney’s election committee, in the latest fraud scandal to hit the news.... read more

October 2007

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October 2007

Are assignee’s rights limited in a bankruptcy case? By looking into the recent case of In re Boyajian, 367 B.R. 138 (B.A.P. 9th Cir.), filed on March 30, 2007, we can now determine whether an assignee can submit nondischargeability claims against dishonest debtors, lessees or guarantors.... read more

September/October 2007

Identity theft has become quite common — but what can creditors do when it strikes? This installment focuses on two areas: The first discusses fraud prevention methods and red flags, which can help creditors from funding transactions tainted by identity theft. The second discusses creditor rights when contacted by legal counsel with a claim that an individual obligor’s identity has been stolen.... read more

September/October 2007

When Pennsylvania’s Sterling Financial Corporation announced on April 30 that it would restate its earnings for the past two years and was postponing its 2007 annual shareholder meeting, there was little to suggest the magnitude of what would follow.... read more

July/August 2007

Ask not for whom the clarion bells ring. If you’re a careful lender or lessor, they ring for thee. Careful lenders need to know what is “new” about eDiscovery and why it is important to prepare for it now, even for a lawsuit that has not yet been filed. Chapman and Cutler’s Jeffrey Close takes a closer look at the requirements needed for a well-prepared ESI inventory.... read more

July/August 2007