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In The Marketplace
Orion First Financial, LLC of Gig Harbor, WA and Alliance Funding Group, Inc. of Anaheim, CA have announced the formation of a new joint venture, Alliance Financial, LLC. The joint venture has established a revolving line of credit with PFF Bank and Trust to warehouse leases originated by Alliance Funding Group, Inc. The new venture bundles the warehoused leases into portfolios and the lease receivables are sold to Union Safe Deposit Bank under a permanent funding facility. Orion First Financial, LLC will provide lease servicing and administrative services to Alliance Financial, LLC and Union Safe Deposit Bank.
Equilease Financial Services, Inc. of South Norwalk, CT has announced the acquisition of a transportation lease portfolio comprised substantially of over-the-road car carriers from a regional bank leasing company. The portfolio consists of 62 schedules aggregating $6.9 million of gross receivables and total original equipment cost of $9.9 million. The average remaining term and seasoning was 32 and 25 months, respectively. The purchase was the fifth portfolio purchase by Equilease since September 2003. The total amount of receivables purchased since September by Equilease was $52.2 million comprised of 589 lease/loan schedules having an aggregate original equipment cost or original balance of $139.5 million.
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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.