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Brican Equipment Lease Litigation
A federal district court's recent summary judgment decision in In re: Brican America, LLC Equipment Lease Litigation, 2013 WL 3967920 (S.D. Fla. Aug. 1, 2013), appears to be a mixed bag for vendor finance companies. In Brican, a high-profile multi-district litigation arising out of alleged equipment lease fraud, the court both granted in part and denied in part, a lessor's motion for summary judgment on what the court termed the “jugular” issue in the case. Those issues involved the interplay between standard “hell or high water” provisions contained in the applicable lease agreements and “Cancellation” clauses inserted into contemporaneous “Marketing Agreements” between the vendor and its customers. The court's decision provides a learning opportunity for vendor finance companies.
Factual Background
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.