Average Lateness Methodology
February 28, 2015
Two recent decisions from the United States Bankruptcy Court for the Southern District of New York, affirmed the use of "average lateness" methodology to examine both the subjective and the objective components of the ordinary course of business defense to preference actions. This article explains the those decisions.
Cramdown Interest Rates in Chapter 11
February 28, 2015
Recently, the United States Bankruptcy Court for the Southern District of New York held, among other things, that debtors could cram down their plan of reorganization on their secured lenders under section 1129(b)(2)(A)(i) of the Bankruptcy Code by providing them with replacement notes paying a below-market interest rate using a formula approach to calculate the applicable interest rate. This article analysis this decision.
Why Social Media Should Not Be Ignored
January 31, 2015
At the annual Equipment Leasing and Finance Association's (ELFA) Convention this past October, the social media panel discussion was surprisingly well attended. Such interest was unexpected because there are many industry executives who still don't see the value of including social media in their business communications mix. But, they should not ignore it, and this article will explain why.
Intercreditor Agreements
January 31, 2015
This is the sixth (and final) article in a series covering various aspects of intercreditor agreements.
LinkedIn: Your To-Do List
January 31, 2015
"I'm a creature of routine," a successful law firm partner told the author. "If I only had a list of things to do on LinkedIn, I know I could get those tasks completed on a daily basis. I just don't know what to do." Here is a list of things to do.
More of the New Normal?
December 31, 2014
As a result of the decrease in spending during the Recession, there is considerable cash sitting on the sidelines. Yet every year, there has been uncertainty hovering over the markets, preventing prudent companies from opening the cash spigot. So how does it look for 2015?
Security Interests In Railcars
December 31, 2014
The railcar leasing industry in Canada and throughout North America has seen remarkable growth in recent years. The aging and gradual failure of current fleets of railcars, the desire to implement newer technology and the introduction of regulations that require the replacement of tank cars or retrofitting means that railcar leasing activities will continue to increase in coming years. This article provides an overview of the process for registering security interests over railcars in Canada, which is similar in many respects to the process for registering railcar security interests with the Surface Transportation Board in the United States. We also outline several considerations of which to be mindful when registering security interests over railcars in Canada.
UCC-3 Termination Statements
December 31, 2014
In a recent case, two large law firms and a major corporation failed to scrutinize a UCC-3 termination statement and may have inadvertently allowed $1.5 billion in indebtedness to become unsecured.