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IN THE MARKETPLACE
The Federal Deposit Insurance Corporation has announced that it is selling the remaining $4.2 million performing lease portfolio of Southern Pacific Bank. The leases were originated by Southern Pacific BanCapital, a division of Southern Pacific Bank, which was closed by the California Commissioner of Financial Institutions on February 7, 2003. The portfolio consists of 18 performing middle market leases in two pools: One of lease loans secured by the leased equipment subject to the leases with the lessee; the second consists of direct finance leases. A third non-performing pool comprised of one workout agreement and one defaulted lease in bankruptcy with a combined book value of $4.1 million will also be offered. For more information, visit http://www.fdic.gov/.
Nassau Asset Management of Rosyln Heights, NY, has released a newly enhanced asset tracking system. NASTRAC is a Web-based program that keeps users informed about the status of repossessions, bids, and sales of equipment placements in real time. This newly refined online asset-tracking system, accessed with a password at Nassau's Web site, already has some 2,100 accounts, serving such commercial lenders as banks, leasing companies, credit unions and bankruptcy trustees. For more information, visit http://www.nasset.com/.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.