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Leveraged Lease Gone Bad? Avoid the Courtroom with Mediation
Throughout the 40-year history of U.S. leveraged leasing, deals have occasionally gone bad. Lessees default, markets change, equipment loses value ' sometimes even the best planned and executed deal may turn out to be the biggest problem in a lessor's portfolio.
And historically, when a lease has turned out for the worst, the standard procedure for the lessor (after getting the debt participant on board) has been first to try to work out some sort of resolution directly with the lessee and then, failing that, to call the lawyers; time to go to court. Conventional wisdom, in the most intractable situations, says litigation is the only way to force the lessee to meet at least most of its obligations under the lease, to wind up with sufficient money to satisfy the lender and avoid an equity squeeze, and, it is hoped, to book a little something positive from the deal.
In fact, though, this “standard” procedure too often does not meet any of these objectives. After spending a great deal of money, executive time, and management resources, the result may be simply a substantial write-off, an unhappy lender, and a ruined relationship with a lessee.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.