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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.
Bankruptcy Sales: Finding a Diamond In the Rough
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
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 So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
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 Domains: New Developments for Brand Owners
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.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
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.