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Over the last year, it has become obvious that there must be a fundamental shift in the way large-ticket leasing companies look at their tax shelter businesses. This article will examine what has brought about this shift and how lessors will find ways to cope with it.
In the 70s, 80s and early 90s, the large-ticket equipment leasing business consisted mainly of investments in equipment transactions wherein lessors bought and then leased equipment to corporate lessees. This business was fairly basic wherein corporations, which for one reason or another could not use tax benefits, would sell a piece of equipment to a lessor and lease it back, in essence trading tax benefits for a lower after-tax cost of financing. As companies became profitable in the mid- to late-90s, corporate users of equipment required less of the aforementioned financings. Companies discovered that they could make more efficient use of the tax benefits themselves than by trading them through leases. This led to lessors looking for new types of transactions where they could still generate tax benefits from equipment financings, and lessors found a new market in tax-exempt entities. While the corporate transactions of the earlier era relied on the credit of the lessee directly, transactions to the tax-exempt entities generally involved some form of credit enhancement in addition to the credit of the lessee. Although the lessee was always primarily liable, credit committees of investors required support for the credit of the lessee.
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.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.