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Equipment lenders often consider an out-of-court foreclosure as a fast and efficient way to recover collateral from a defaulting borrower. The Second Circuit Court of Appeals has thrown a monkey wrench into the attractiveness of the foreclosure option, especially for those equipment lenders who foreclose on collateral with the goal of preserving value by operating the business until a strategic buyer can be located.

Some outside counsel historically have felt that their clients' duty to preserve evidence rests primarily with those clients. The all-too-common practice was to fire off a memo to the client with some general guidance and then check it off the "to do" list. It was left up to the client to make sure proper steps were taken from there. If that was ever a safe or defensible process, those days are long gone.

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The precise line of where ordinary negligence ends and professional negligence begins has remained rather murky. Here's why this makes a difference.

Subsequent to publication of last month's lease accounting update article, the FASB/IASB Boards conducted a meeting on May 19, 2011 at which they unexpectedly reversed some of their tentative decisions favorable to the industry.

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Studies that have attempted to quantify the costs of defensive medicine by looking at the impact that tort reform has had on health care savings have obtained inconsistent results.

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Recent case law has made New York an extremely beneficial place for a creditor seeking to enforce a judgment against a debtor's foreign assets.

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A look at recent key cases.

The authors hypothesize that if attorneys, judges, and psychologists were asked to rate the usefulness of data from psychological tests administered in the context of family law matters, attorneys and judges would assign higher ratings than would psychologists.