Online: Find Product Liability Articles on the Web
December 02, 2005
If you're looking for articles pertaining to product liability litigation, the Rand Institute for Civil Justice ("ICJ") has a Web site that lists and summarizes a variety of articles that are available for purchase or for free. Go to <i>www.rand.org/icj/pubs</i> and click on "Product Liability."
Supreme Court Hands Partial Victory to Supporters of Federal Pre-emption
December 02, 2005
On April 27, 2005, the U.S. Supreme Court, in a 7-to-2 decision, handed supporters of federal pre-emption a narrow victory in <i>Bates v. Dow Agrosciences LLC</i>, __U.S.__, 125 S.Ct. 1788, __L.Ed.2d__ (2005). In <i>Bates</i>, the majority's decision endorsed the principal that state law fraud and failure-to-warn claims may be pre-empted in appropriate circumstances under the Federal Insecticide, Fungicide, and Rodenticide Act ("FIFRA" or "Act"), 7 U.S.C. §136 <i>et seq</i>. The <i>Bates</i> majority held that where such state law claims impose requirements on an insecticide manufacturer that are "in addition to or different from" labeling or packaging requirements under FIFRA, the claims will be barred by FIFRA's pre-emption provision, 7 U.S.C. §136v(b).
Form vs. Function: When Is a Lease a 'True Lease'? The Seventh Circuit Applies Substance over Form in United Airlines v. HSBC Bank
December 02, 2005
Financing deals have become increasingly complicated as parties attempt to raise capital and take advantage of accounting and tax incentives. These transactions often face scrutiny when one party files for bankruptcy. During a Chapter 11 reorganization, a debtor must use all tools at its disposal to best restructure its obligations. In contrast, a creditor must work to ensure it receives the best possible return. The term "lease" is not defined in the Bankruptcy Code. Due to this lack of a clear definition, creditors and debtors will often attempt to recharacterize agreements between the parties. In this context, a secured creditor or debtor may argue that a "lease" is actually a disguised secured financing. In the converse, a party could also argue a secured financing is actually a "true lease." This is due to the Bankruptcy Code's different treatment of secured debt and leases. Depending on the factual scenario, this differing treatment could significantly change the parties' obligations.
Revised Article 9's Assignment Provisions: An Analysis
December 02, 2005
Chapter 4 of Revised Article 9, titled "Rights of Third Parties," deals with several issues affecting the assignment of accounts, leases, and other contract rights. See, in particular, Sections 9-403 to 9-409. These sections replace former Sections 9-206 and 9-318 and part of Section 2A-303. This article summarizes some of the key provisions of Chapter 4 of Revised Article 9, compares these provisions to former Article 9, and describes a few recent cases under this Chapter. Note that different rules apply in a consumer transaction or if the account debtor is an individual who incurred the obligation primarily for personal, family or household purposes; this article does not address these issues. In addition, this article does not address the assignment of a health care insurance receivable.
In the Marketplace
December 02, 2005
Highlights of the latest equipment leasing news from around the country.
A Primer on Terrorism Insurance
December 02, 2005
The Terrorism Risk Insurance Act ("TRIA"), 15 USC §6701 <i>et. seq.</i>, designed to make terrorism insurance readily available to property owners, is scheduled to sunset on Dec. 31, 2005. If the Act is not extended and the cost of terrorism insurance becomes prohibitive, lenders and borrowers may once again find themselves embroiled in controversy over the question of whether governing loan documents require such insurance.
The Leasing Hotline
December 02, 2005
Highlights of the latest commercial cases from around the country.
Is Your Company in Compliance with the Anti-Terrorism Laws?
December 02, 2005
The fourth anniversary of the tragedy in New York has come and gone, and our country remains on alert in an effort to prevent another terrorist attack. While we see frequent warnings published in the news and through industry groups, the heightened awareness those warnings generate does not put our companies in compliance with the laws requiring our participation in the fight against terrorism. This article examines the anti-terrorism laws that affect our industry and outlines best practices for compliance with those laws. It also provides information on enforcement activities that have occurred. It provides a basis for evaluating whether or not your company is in compliance with the anti-terrorism laws.
