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Perfection and Priority of a Security Interest in Internationally Mobile Goods
Assume an international bank, with branch offices in New York and the Cayman Islands, makes a secured loan to a newly organized special purpose entity, organized as a Bermuda exempted company, secured by all of the borrower's assets. Borrower's assets consist of marine cargo containers and the leases of such containers. Most of the container leases qualify as operating leases under U.S. generally accepted accounting principles (“GAAP”), with the balance of them qualifying as direct financing or sales type leases under GAAP. The loan and security agreements entered into by borrower and the bank stipulate New York law as their chosen law. There are numerous lessees of the containers owned by borrower: Such leases generally, but not universally, stipulate English law as their chosen law (others, at the insistence of the lessee, stipulate lessee's choice of law as the chosen law of the lease, such as Singapore law).
Lender requests your assistance in perfecting its security interest in borrower's assets as a first priority security interest in such assets.
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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.