Circular Lien Priorities: Tackling Three-Party Subordination
May 20, 2013
This article discusses the priority issues that can arise where three or more creditors claim a security interest in the same collateral and a recent Seventh Circuit case, <i>Caterpillar Financial Services v. Peoples National Bank,</i> that addresses this infrequently adjudicated problem.
In the Marketplace
April 30, 2013
Highlights of the latest equipment leasing news from around the country.
Recovery of Make-Whole Premiums
April 30, 2013
A lender's right to recover a make-whole premium as part of its allowed claim in a bankruptcy case has been the subject of considerable judicial debate over the past number of years, with some courts allowing recovery and others denying it. Earlier this year, the U.S. Bankruptcy Court for the Southern District of New York added to the debate by denying bondholders the right to payment of a make-whole premium in connection with the debtor's refinancing of the bond debt.
Regulation and Innovation in Leasing
April 29, 2013
Are the imperatives of innovation and compliance always mutually exclusive? This article explores these very different but perhaps not always incompatible concerns.
The Scope of Indemnification in DIP Financing Agreements
March 28, 2013
This article examines the typical DIP financing indemnification provision and the less frequently seen pre-petition indemnification provision, and examines the effect of pre-petition indemnifications on the bankruptcy estate.
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.
Rembrandt/Not Rembrandt: Finding the Win-Win in Your Firm's Technology Leases
March 28, 2013
Many law firm decision makers in the AmLaw 100/200 and more turn to leasing equipment and technology for their firm as a competitively advantageous way of performing in the new business model landscape. Just make sure when you are reviewing your Master Lease Agreement, that you are, in fact, looking at a "Rembrandt.