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Financing Accessions: A Real-World Analysis in Question and Answer Format
Consider how you would address this familiar situation: Your borrower wants to finance a crane that will be attached to and used on a motorized piece of construction equipment, but does not need you to finance the construction equipment itself, only the crane attachment. On its face, this all sounds simple enough, but as many lenders and lessors have discovered, financing a unit that will be attached to equipment financed by another lender can be more challenging than it appears. Especially if the other item is a titled motor vehicle.
When financing an item of equipment (an “Accession”) that may become physically attached to other equipment (the “Other Equipment” and together with the Accession, the “Whole”), lenders (we will call them “Accession Lenders”) or lessors (“Accession Lessors”) should approach these situations with caution. The holder of an interest in the Other Equipment (we will call it the “Other Equipment Lender”) can take priority over the Accession Lender's security interest in the Accession or even the ownership interest of an Accession Lessor.
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.
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.
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.