Texas Legislature Passes Certificate of Title Bill Negating Effect of Clark Contracting Decision
August 26, 2009
On June 19 of this year, Texas Governor Rick Perry signed into law Senate Bill 1592, S.B.1592, 81st Leg., Reg. Sess. (Tex. 2009) ("SB1592"), bringing an end to an intensive five-month effort to negate the broader effects of a decision handed down by a bankruptcy court in the Western District of Texas in late 2008 relating to the perfected status of a lender on a loan purportedly secured by six equipment trucks.
In the Marketplace
July 28, 2009
Highlights of the latest equipment leasing news from around the country.
Construction Equipment and Machine Tool Repossessions
July 28, 2009
The most recent results of Nassau Asset Management's NasTrac Quarterly Index show that the company's level of repossession and liquidation activity for the first quarter has risen significantly over the past year in the construction equipment and machine tool categories, while also showing continued high activity in trucking.
Secured Lenders' Right to Full Payment
July 28, 2009
The U.S. Court of Appeals for the Seventh Circuit held on May 5, 2009, that two secured lenders were fully secured, "entitled to a full recovery" from the debtor despite the bankruptcy court's improper valuation of the collateral (improved airport terminal space) securing the lenders' underlying $60 million loan. <i>In re United Air Lines, Inc.</i>
Secured Transactions: The Transfer of Security Interests
July 28, 2009
This article discusses the procedures for assigning Article 9 security interests, the issues highlighted in <i>Clark Contracting Services Inc. v. Wells Fargo Equipment Finance</i>, and the reaction to that decision.
In the Marketplace
June 30, 2009
Highlights of the latest equipment leasing news from around the country.
The Era of 'Busted Deals'?
May 29, 2009
As the demand for exit and acquisition financing continues to exceed the supply, it is safe to assume we will continue to see a number of "busted deals.