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In the Marketplace
CIT Group, Inc. of New York has named Nelson J. Chai as the company's president. He previously served as executive vice president, chief administrative officer and head of strategy. In his new role, Chai will maintain his current responsibilities while also assuming oversight of CIT's Corporate Finance and Vendor Finance operating segments. He will continue to oversee CIT's global infrastructure and operating architecture, including its technology platforms. He will also continue to lead the company's strategic planning and business development, as well as oversee the insurance and corporate services functions. Chai will continue to report directly to chairman and chief executive officer John A. Thain.
GE Capital has acquired the UK accounts receivable financing subsidiary of Eurofactor S.A. (part of Credit Agricole Leasing and Factoring) for an undisclosed amount. The acquisition will build GE Capital's UK commercial and corporate lending business, and the company's strategic focus on providing financial solutions to the UK's SME community. Credit Agricole Commercial Finance UK, formerly known as Eurofactor (UK) Limited, is a provider of accounts receivable finance in the UK and provided approximately '3 billion of finance to UK companies in volume terms in 2010.
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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.