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In <i>Charnay v. Cobert</i> '- Cal.Rptr.3d '', 2006 WL 3410818 (Cal.App. 2 Dist., 11/28/06) (Perluss, P.J.), the trial court erred by sustaining a demurrer to a former client's suit against the law firm that represented her as she adequately alleged, inter alia, legal malpractice and breach of fiduciary duty.
Features
Properly administered impact fee programs can operate to streamline California Environmental Quality Act (CEQA) review of later development projects. At the same time, impact fee programs that are not implemented in accordance with the original expectations, or that are founded upon unrealistic assumptions, may offer the lead agency and affected applicant little or no real legal relief, and may be a trap for the unwary.
Features
In a recent development that will likely be of interest to companies conducting business in Europe, the American Bar Association has recently urged the U.S. government to sign, ratify and implement the Hague Convention on Choice of Court Agreements (the 'Choice of Court Convention'). The Choice of Court Convention accomplishes many goals that have long been sought by the United States. Most importantly, it provides a mechanism for the recognition of certain judgments rendered by U.S. courts, namely judgments resolving a dispute arising out of a commercial agreement that was submitted pursuant to an exclusive choice of court agreement. (See American Bar Association, Recommendation adopted by the House of Delegates (Aug. 7-8, 2006), at www.abanet.org/intlaw/policy/investment/hcca0806.pdf.)
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For the past three years, our law firm, Fulbright & Jaworski LLP, has conducted its Litigation Trends Survey, based on responses from senior-level in-house lawyers at companies in a variety of industries and at various revenue levels. In the first year, we surveyed only United States companies. Last year, we expanded our survey to encompass companies in the United Kingdom as well. This year's edition of the Litigation Trends Survey ' in recognition of the increasing globalization of the world economy and our own firm's rapid international expansion ' drew on responses from companies around the world. The survey results generally confirmed what prompted us to expand the scope of the Survey to begin with ' that companies are increasingly operating more globally and therefore face greater and more frequent challenges in protecting their interests in areas far from home.
Features
In recent years, debtors in large corporate bankruptcies have sometimes sought and obtained, in varying degrees, authority at the outset of bankruptcy cases for severe restrictions on trading in claims against the debtors by substantial claimholders. In practice, however, these debt-trading orders have chilled the market for trading in debt securities and served to entrench existing management by effectively precluding substantial investors from acquiring meaningful positions in the debtor's debt securities.
Features
Better ingredients, it is said, make for a better pizza, and, as <i>Emfore Corp. v. Blimpie Associates, Ltd.</i> (N.Y. Sup. Ct. Sept. 18, 2006) suggests, better documents make for better decisions, at least if you are the franchisor.
Features
Highlights of the latest equipment leasing news from around the country.
Features
Part One of this series discussed how the federal government is stepping up its aggressive enforcement of anti-money laundering/combating the financing of terrorism ('AML/CFT'). This second installment addresses action steps for leasing and financing businesses affected by the AML/CFT program.
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Any equipment leasing or finance company desiring to access the debt capital markets must quickly become adept at dealing with a unique feature of that world: the credit rating and its gatekeeper, the credit rating agency. Entering this realm can be a jolt for finance officers used to the relationship-friendly, competitive environment of commercial banks. Dominated by two monoliths, Standard & Poor's and Moody's, the rating agency process is steeped in the clinical analytics of credit modeling. Rating agencies are viewed by many as academic in perspective and, to some, remote and obscure in their approach.
Features
In August 2006 the U.S. Bankruptcy Appellate Panel of the Ninth Circuit rendered a decision in a case titled <i>In Re: Commercial Money Center, Inc.</i> (<i>Netbank, FSB v. Kipperman</i>), U.S. Bankruptcy Appellate Panel of the Ninth Circuit, BAP No. SC-05-1238-MoTB; Bk.No. 02-09721-H7; Adv. No. 03-90331-H7, holding that payment streams stripped from equipment leases are payment intangibles, not chattel paper, and thereby overturning the bankruptcy court decision. Accordingly, the assignment of the payment streams could be automatically perfected under '9-309(3) of Revised Article 9. Additionally, the court agreed with the bankruptcy court and held that the transactions in this case were loans, not sales, so there was no automatic perfection. Finally, the court held that there were unresolved factual and legal issues as to whether the lender had perfected its security interest in the leases by taking possession through a third-party agent, and therefore remanded the case for further proceedings.
