Over the years I have had many opportunities to represent equipment leasing finance companies negotiating leases and other related documentation with argumentative lessees. Equipment leasing falls under the body of law for, and standard practice among practitioners of, a financing... read more
July 2023
In the wake of the COVID-19 pandemic, hearing delays and backlogs are still a large, lingering issue in the courts. Despite the advent of new legal technology (legaltech), a significant portion of the legal community continues to use outdated methods... read more
July 2023
Connecticut is, by all accounts, about to become the latest state to jump on the disclosure bandwagon. The law would take effect on January 1, 2024. There have been a few mistaken reports that the law has already been enacted... read more
June 2023
On April 10, 2023, Georgia’s new commercial financing disclosure law approached the finish line as Senate Bill 90 hit Governor Brian Kemp’s desk with strong bi-partisan support, a mere two months after it was proposed. If the bill passes, as... read more
May 2023
Commercial transaction brokers, as a general rule, have minimal obligations under the relatively new California disclosure laws (CDL) . As we know, funders (referred to in the CDL as financers or providers) have many. There are numerous and complex disclosure... read more
May 2022
A recent U.S. Supreme Court decision affirmed that debtors cannot discharge debts obtained through fraudulent actions in bankruptcy, even if they did not personally commit the fraud. The ruling is a win for both fraud victims and creditors, as it... read more
April 2023
As discussed in my last article on this subject, the New York State Department of Financial Services (“DFS”) has finalized the regulations elucidating its new Commercial Finance Disclosure Law (CFDL). The complete text of the CFDL can be found in... read more
March 2023
My hometown. What’s not to love? The Met. Babe Ruth. The Brooklyn Bridge. Joe Namath. Times Square. The perfect slice (orange and greasy, the reason New Yorkers wear black). The best bagels (with a shmear). Killer pastrami (probably literally). Then... read more
March 2023
As society pushes toward an “endemic” stage of Covid-19 that can’t come quickly enough, many lenders are seeking updated instructions on handling default accounts in the post-pandemic era. In 2022 and beyond, lenders should (1) be prepared for anything- there... read more
March 2022
In certain segments of our industry, the interest rate charged for the advance of loan proceeds may exceed the rates allowed under the usury laws of the state where the borrower or lessee may be located. It is important to... read more
August 2019
It happened again. This time, not simply via an oral ruling by a judge from the bench, but in a written opinion, for all the world to see. And even though the litigants settled their differences after the decision was... read more
June 2019
Clarity in drafting loan documents and understanding what your loan documents say are vital to a lender’s success in enforcing its rights and remedies both in and out of bankruptcy. In June, the United States Supreme Court denied review of... read more
January 2019
Periodically in the equipment leasing industry, cases crop up involving schemes in which equipment is marketed as being essentially “free,” because the lessee will supposedly receive payments for advertising on the equipment, in an amount roughly the same as the... read more
March 2015
Nearly 2,500 years ago Greek poet Sophocles quipped that he would “rather fail with honor than succeed by fraud.” It seems that some people disagree with Sophocles — they fail without honor while trying to cheat the system. To the... read more
Jan 2015
Lessors and lenders engaged in equipment leasing and finance should remember that a usury savings clause is not a “get out of jail free card.” Historically, equipment lessors have been less concerned with usury issues than their straight-loan brethren. The... read more
Jan 2015