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In the Marketplace
The Equipment Leasing and Finance Association ('ELFA') has filed two separate amicus curiae briefs regarding the use of deductions generated through participation in Lease-In/Lease-Out ('LILO') transactions. In both briefs, the ELFA argues that the correct tax treatment of leaseback transactions ' and commercial leasing transactions in general ' are cast into doubt.
In the first case, the ELFA filed a motion and amicus brief before the Fourth Circuit in support of the appellant, BB&T Corporation, in its appeal of the decision of the U.S. District Court for the Middle District of North Carolina in BBT Corporation v. USA, No. 1:04-cv-00941-NCT (Jan. 4, 2007). The transaction involved the lease and sublease of pulp manufacturing equipment. The plaintiff, BB&T Corporation, had certain tax deductions disallowed by the Internal Revenue Service in connection with BB&T's participation in a LILO transaction with Sodra Cell AB, a Swedish company. As described by the court, the deal consisted of a 'Head Lease' in which BB&T acquired an undivided interest in the equipment for a period of 36 years and an immediate shorter term sublease of the undivided interest in the equipment back to Sodra for a term of 15.5 years.
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.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
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.
When Is a Repair Structural or Nonstructural Under a Commercial Lease?
A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."