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In Grede v. Bank of New York Mellon Corp. (In re Sentinel Management Group, Inc.), 809 F.3d 958 (7th Cir. Jan. 8, 2016), the U.S. Court of Appeals for the Seventh Circuit held that a lender who should have discovered that its borrower lacked authority to pledge assets is not protected by a good-faith defense to a fraudulent transfer action. Without this defense, the lender lost its security. Because the lender was left with an unsecured claim, the court also addressed the question of whether the priority of the lender’s claim should be further reduced through equitable subordination.
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‘Trial of the Century’ Takes on Hell or High Water
By Paul Bent
Will a Rising Tide of Managed Solutions Transactions Sink the Most Venerated of Leasing Provisions?
There is change afoot in the equipment leasing marketplace, and it portends a potentially seismic shift in the perception, usefulness and utility of the well-tested HOHW clause.
How 2018 Tax Changes Will Affect Companies Focused on Truck Acquisition
By Brian Holland
Corporations with private fleets in the U.S., as well as for-hire carriers, have begun ordering faster than before. As the economy continues to strengthen, this trend will continue to grow and so will the need to replace aging equipment.
Recognizing the Signs of Financial Distress
By Steven Strom
Diagnosing financial distress, and the ability to address the relevant issues, is a necessary role of board members and senior executives.
Shipping Insolvencies and Texas Businesses
By Nicole Hay and Thomas Scannell
Texas businesses and their attorneys should be aware of legal and practical issues that may arise in the event of a shipping insolvency. Two particularly murky areas that have been illuminated by recent case law are maritime liens and reclamation rights.
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