Features
Court Watch
Highlights of the latest franchising cases from around the country.
Features
News Briefs
Highlights of the latest franchising news from around the country.
Features
Franchise Litigation: 10 Cases That Changed the Landscape in the Past Decade
The authors conclude their analysis of 10 highly significant decisions in the past decade that affected the franchising industry.
Features
Spring Leasing Seminars and Conferences
2005 ELA Legal Forum: May 15-17, 2005, Loews Miami Beach Hotel, Miami Beach, FL. Sponsor: Equipment Leasing Association of America, 1300 N. 17th Street,…
Features
In The Marketplace
Highlights of the latest equipment leasing news from around the country.
FASB Finalizes Its Decisions on Rerunning Leveraged Leases
As reported last month by Bill Bosco, the Financial Accounting Standards Board planned to, and did in fact, meet on March 2 to finalize its decisions on the issue of recalculating a leveraged lease in the event of changes in timing of tax benefits. The Board affirmed its tentative conclusions that a change in timing of the realization of tax benefits should require a recalculation of the leveraged lease and a re-evaluation of the classification of the leveraged lease.
Features
A Senior Secured Lender's Guide to the Risks Posed By Junior Secured Debt
The author continues her analysis of the elements of the senior-junior-borrower relationship that should be addressed with specificity in an intercreditor agreement.
Come 'Hell or High Water' NorVergence Causing a Stir over Documentation
So-called "hell or high water," "waiver of defense" and lessor favorable "submission to jurisdiction" clauses have long been cornerstones of equipment finance documentation. But, the unfolding debacle over the last year involving a company called NorVergence has cast an unfavorable light on these important provisions and, in doing so, entangled most of the top players in the leasing industry.
Case Briefs
Highlights of the latest insurance cases from around the country.
Features
New York: Moving to a 'Prejudice' Standard for Late Notice?
New York has long been known as a state in which a direct liability insurer need not prove prejudice in order to prevail on a defense that the policyholder provided late notice of an occurrence or a claim. New York ranks among the minority of states following the "no prejudice" rule. According to Ostrager, Barry R. and Newman, Thomas R.: Handbook on Insurance Coverage Disputes, approximately 80% of the states require a liability insurer to prove prejudice to prevail on the late notice defense, while the remainder either follow a straight "no prejudice" rule or adopt different rules for different types of insurance policies.
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- Coverage Issues Stemming from Dry Cleaner Contamination SuitsIn 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.Read More ›
- 'Insurable Interest' and the Scope of First-Party CoverageThis article reviews the fundamental underpinnings of the concept of insurable interest, and certain recent cases that have grappled with the scope of insurable interest and have articulated a more meaningful application of the concept to claims under first-party property policies.Read More ›
- The Flight to Quality and Workplace ExperienceThat the pace of change is "accelerating" is surely an understatement. What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from "office optional," to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.Read More ›
- AI or Not To AI: Observations from Legalweek NY 2023This year at Legalweek, there was little doubt on what the annual takeaway topic would be. As much as I tried to avoid it for fear of beating the proverbial dead horse, it was impossible not to talk about generative AI, ChatGPT, and all that goes with it. Some fascinating discussions were had and many aspects of AI were uncovered.Read More ›
- The Powerful Impact of The Non-Foreclosure Notice of PendencyRPAPL ' 1331 and RPAPL ' 1403 Notices of Pendency are requisite elements for foreclosing a mortgage. <i>See, Chiarelli v. Kotsifos</i>, 5 A.D.3d 345 (a notice of pendency is a prerequisite to obtaining a judgment in a mortgage foreclosure action); <i>Campbell v. Smith</i>, 309 A.D.2d 581, 582 (a notice of pendency is required in a foreclosure action under RPAPL Article 13). In contrast, an ex parte CPLR Article 65 Notice of Pendency (the "Notice") is not required but it is a significant tool in an action claiming title to, or an interest in or the use or enjoyment of, another's land. The filer does not have to make a meritorious showing or post a bond. Article 65 provides mechanisms for the defendant-owner to vacate the Notice that caused an unilaterally imposed restraint on its realty. But, recent case law establishes the near futility of such efforts if the plaintiff has satisfied the minimal statutory requisites for filing the Notice.Read More ›