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In the Marketplace
GE Capital of Norwalk, CT, and Element Financial of Toronto have entered into an asset purchase agreement for Element to acquire GE Capital's Canadian fleet portfolio and for the two companies to form a strategic alliance to deliver comprehensive vehicle fleet financing and management services to cross-border customers in Canada and the United States. Under the terms of the agreement, Element will acquire GE Capital's existing Canadian fleet portfolio for C$570 million, along with the GE Capital Canada fleet operational resources required to service this portfolio. These Canadian operations will be combined with Element's existing fleet management business, TLS Fleet Management. In addition to serving the domestic Canadian fleet industry, the combined entity operating under the Element Fleet Management brand will serve Canadian customers under a Strategic Alliance Agreement between Element and GE Capital Fleet Services.
HNA Group Company Limited of China has agreed to acquire GE Capital's TIP Trailer Services, a European provider of transport equipment leasing, rental and service solutions. Following the acquisition completion TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. TIP has a transport equipment fleet in excess of 45,000 units. HNA Group, a diversified services and integrated operations company, is advised by Bravia Capital of Hong Kong, with whom it has historically partnered on other transactions.
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.