Contractual Jury Waivers: New Case Before California Supreme Court Presents a Challenge
A closely watched case now before the California Supreme Court will impact the way equipment lessors do business. In <i>Grafton Partners L.P. v. Superior Court,</i> 9 Cal.Rptr.3d 511 (2004), the California Court of Appeal held that predispute contractual jury waivers are unenforceable under the California Constitution. The case has been accepted for review by the California Supreme Court, and a decision is expected next year.
Features
From Cradle to Grave: Using Bankruptcy Skills to Advise Clients on New Deals
Last month, we discussed the fact that of the many hats worn by leasing attorneys, one is of the bankruptcy practitioner. It is a skill set that usually comes into play at the end of a transaction gone bad. This article continues outlining the case for ending this practice and having bankruptcy counsel get involved in lease deals from the outset.
New Leasing Rules under the American Jobs Creation Act of 2004
On Oct. 22, 2004, the President signed the American Jobs Creation Act of 2004 (AJCA), one of the most significant pieces of tax legislation in recent years. AJCA makes a number of major changes to the tax rules applicable to capital-intensive businesses in general and to the leasing industry in particular. AJCA's major provisions include: 1) limitations on tax-exempt leasing structures; 2) improvement to the rules relating to offshore aircraft leasing and incentives for domestic manufacturing and production activities; 3) the application of "bonus" depreciation to non-commercial aircraft and syndicated lease transactions; 4) increased "Section 179" expensing; and 5) limitations on the depreciation of sport utility vehicles.
Features
In The Marketplace
Highlights of the latest equipment leasing news from around the country.
Features
Landlord & Tenant
The latest rulings for you to review.
Features
Title Insurance for the Mezzanine Lender
Present-day real estate financing is significantly more complex than traditional financing. Sobered by borrower bankruptcies and compelled by rating agency requirements in the modern day era of mortgage securitizations, lenders are now looking to "mezzanine loans" to bridge the gap between senior debt and borrower equity. A mezzanine loan will often cover 50% to 90% of the equity required to acquire a property. In order to secure the repayment of a mezzanine loan, a lender customarily requires a pledge of the partnership or membership interests of the property owning entity.
Development
Recent rulings of interest to you and your practice.
Need Help?
- Prefer an IP authenticated environment? Request a transition or call 800-756-8993.
- Need other assistance? email Customer Service or call 1-877-256-2472.
MOST POPULAR STORIES
- The Availability of Self-Help Evictions to Commercial LandlordsA landlord may re-enter leased commercial premises peaceably, without resorting to court process, in those states where it is permitted, if the right to do so is expressly reserved in a commercial lease, either a) upon the tenant's defaulting on the payment of rent or other lease terms, or b) upon termination of the lease or the tenant's abandoning the premises.Read More ›
- Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of LicenseeMission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."Read More ›
- Bankruptcy Court Cannot Surcharge Credit Bidding Asset Buyer with Expenses of SaleExplaining that the "bankruptcy court had no jurisdiction to take such action," the Fifth Circuit also vacated the district's court's improper ruling that the bankruptcy judge could enter a personal judgment against the asset buyer.Read More ›
- Second Circuit Rejects Arbitration of Debtor's Asserted Discharge ViolationA bankruptcy court properly denied a bank's motion to compel arbitration of a debtor's asserted violation of the court's discharge injunction, the U.S. Court of Appeals for the Second Circuit held.Read More ›
- The DOJ's Corporate Enforcement Policy: One Year LaterThe DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.Read More ›