Con Ed Reversal Ends LILO/SILO Saga ' And Then Some
March 28, 2013
In January, the U.S. Court of Appeals for the Federal Circuit handed down its decision in <i>Consolidated Edison Company of New York, Inc. v. United States.</i> The decision reverses the only lower court case that had decided a LILO or SILO transaction in favor of the taxpayer, and likely ends the decade-long litigation of these contentious leveraged lease cases.
When the Tenant Files for Bankruptcy
March 27, 2013
The timing of the filing of a shopping center tenant's bankruptcy filing may be affected by many factors, including, among others, the tenant's liquidity, down turns in sales and secured creditor issues. What happens to the landlord?
Modernizing Lease Forms
March 27, 2013
This article discusses certain simple methods of improving the visual layout and organization of lease forms to produce a stronger template for future leases.
In the Spotlight: Bankruptcy Stays and Guarantors
March 27, 2013
New York's intermediate appellate court in Brooklyn decided a case bringing to New York law the principle that unless guarantors file for their own independent bankruptcy protection, the protections that bankruptcy brings to a primary debtor do not automatically protect the guarantors. '
In the Marketplace
February 26, 2013
Highlights of the latest equipment leasing news from around the country.
Enforcement of Article 9 Security Interests: The Commercially Reasonable Sale
February 26, 2013
This is the third installment of a three-part article designed to provide secured parties with an overview of their enforcement rights and remedies as set forth in Article 9 of the UCC. This installment focuses on the details of a commercially reasonable sale under Article 9, including the terms of sale of collateral, debtor's redemption rights, deficiencies and surpluses, and foreclosures by a junior secured party.
What's New in the Law
February 26, 2013
Highlights of the latest equipment leasing cases from around the country.
Hav-A-Kar Leasing: Accelerated Payments in Canada ' Close But Not Quite Right
February 26, 2013
An Ontario Court of Appeal case, <i>Hav-A-Kar Leasing Ltd. v. Vekselshtein</i>, enforced an acceleration clause and did not discount payments for early receipt. The decision to enforce this type of clause is problematic, as it gives the lessor more funds than it would have received had the agreement been fulfilled.
