Malpractice in the Line of Duty: Who Catches the Bullet?
A traditional requirement in many sophisticated equipment leasing and financing transactions is the closing opinion, in which an attorney or law firm is requested to opine on a variety of relevant topics, ranging from proper corporate or partnership approval of the transaction in question, to the legality, validity and enforceability of one or more material agreements. Oftentimes, there may be multiple closing opinions issued in respect of the closing, with certain opinions being rendered by internal counsel for one or more of the transaction participants, and another set rendered by external counsel.
Equipment Leasing as a Current Financing Strategy for Middle Market Companies
Equipment leasing remains a viable tool for middle market companies in today's environment. The Equipment Leasing Association of America (the "ELA") estimates that of the $668 billion spent by U.S. business on productive assets in 2003, $208 billion, or 31.1%, was acquired through leasing, and for 2004 the ELA projects that leasing activity will grow to $218 billion, or 30.7 cents of every dollar American businesses will invest in equipment.
Weighing Risks and Rewards in Health Care Financing
The United States spends $1.4 trillion on health care annually, translating to the potential for $300 billion in health care financing. Those are numbers that deserve more than a passing glance. However, according to a recent survey of U.S. health care leasing published by R. S. Carmichael & Co. and the Equipment Leasing Association ("ELA"), <i>Healthcare Equipment Leasing, 2003 U.S. Market Dynamics and Outlook</i>, only 10 companies controlled 85% of this sector.
Leasing: The Next Generation
At the launch of its annual sales meeting, a senior executive of an international company remarked that if the payment obligation had a hell or high water payment obligation, his company would try to finance it.
In The Marketplace
Highlights of the latest equipment leasing news from around the country.
Oil Pollution Act of 1990: New Limitations on Liability
The risk of oil pollution liability for financial lessors of vessels operating in U.S. waters under the Oil Pollution Act of 1990 ("OPA 90"), 33 U.S.C. §2701 et seq., has been substantially ameliorated under new U.S. legislation, thereby restoring leasing as a more lessor-friendly financing option for vessels that trade in U.S. waters.
FTC Staff Report on Franchise Rule Attracts Many Comments
In general, commenters were supportive of the proposed rule changes and praised the FTC for its detailed approach. An introductory statement in the comment from the law firm Kaufmann, Feiner, Yamin, Gildin & Robbins LLP (New York) called the Staff Report "a remarkable effort to ascertain, and as prudent, incorporate ... the desires, needs, and policy positions both of franchisors who will be regulated by the forthcoming revised Franchise Rule, and franchisees whose interests are sought to be protected and advanced thereunder."
In The Marketplace
Highlights of the latest equipment leasing news from around the country.
