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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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
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.