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Exposure Draft Accounting
It is not news that the proposed new lessor and lessee accounting rules as laid out in the recent exposure draft present a variety of challenges to equipment lessors and lessees. In our experience so far, the bulk of attention has been paid to the implications of the new rules on financial reporting, capital requirements and market acceptance of equipment leasing as a product. This emphasis is understandable ' both lessors and lessees want to know what their books are going to look like, and what effect that new look will have on their need for and ability to raise capital. Further, especially among equipment lessors, there are varying degrees of anxiety over the degree to which equipment leasing will continue to be viable.
Since August, the large lessors with whom we work have concluded that the proposed reporting requirements and the resulting capital issues are not, for the most part, intolerable, and that leasing will remain a viable product. While the proposed rules will exact a price in increased operating costs and marketing uncertainty as lessees reassess their equipment financing decisions, business will not cease, the sky will not fall. On the lessee side, the new rules add some economic friction costs to leasing. Whether such costs are sufficient to drive business away from leasing as a finance option to borrowing or cash remains to be seen, but the emerging consensus among large equipment lessors is that leasing will remain a viable product.
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.
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.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.