CASE LAW DEVELOPMENTS - This survey covers several 2022 cases involving disputes among parties to equipment leases or other personal property financings and cases involving third parties claiming to have related rights or...more
THE 2022 AMENDMENTS TO THE UNIFORM COMMERCIAL CODE (THE “2022 AMENDMENTS”) constitute a sweeping expansion and revision of the UCC. Among other things, the new rules greatly facilitate financing of chattel paper leases and...more
In Northeast Farm Sales and Service, Inc. v. Krone NA, Inc., a farm equipment dealer, Northeast Farm Sales and Service, Inc. (Northeast Farm), sued Krone NA, Inc. (Krone), a supplier of farm equipment, in the dealer’s home...more
On November 25, 2022 the Federal Communications Commission issued a sweeping Report & Order, Order, and Further Notice of Proposed Rulemaking banning issuance of equipment authorizations to companies that have been identified...more
CASE LAW DEVELOPMENTS - This survey covers several 2021 cases involving disputes among parties to equipment leases or other personal property financings and cases involving third parties claiming to have related rights or...more
Whether in sales, syndications or securitization of equipment leases and loans, it is important—and often essential—that the assets be transferred from the seller to the buyer in a so-called “true sale.” That colloquialism is...more
The Anti-Kickback Statute (AKS) protects healthcare beneficiaries from the influence of money in their medical decision-making. Overall, the AKS criminalizes renumeration “intended to induce patient referrals or influence the...more
Case Law Developments - This survey covers several 2020 cases involving disputes among parties to equipment leases or other personal property financings, or involving third parties claiming to have related rights or...more
Key Points - - Populating a template lease summary is an effective way to confirm significant commercial, legal and technical provisions in lease due diligence. - Comprehensive seller and lessee representations may be...more
In its first significant Stark Law rulemaking since 2015, the Centers for Medicare and Medicaid Services (CMS) recently issued a new final rule (Final Rule) intending to provide physicians and designated health services (DHS)...more
The British Columbia government recently proposed to introduce the B.C. PST Rebate on Select Machinery and Equipment (Rebate), which allows incorporated businesses to apply for a 100 per cent rebate of PST paid between...more
Many equipment finance companies work with third-party sales organizations or originators. But what happens if one of those third parties is accused of fraud? Stephen Whelan examines two cases that may cause equipment finance...more
In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more
Seyfarth Synopsis: While most of the country is subject to shutdown orders, federal and local leaders are contemplating when and how to bring people back to work. ...more
On Monday, March 16, 2020, Boston Mayor Martin J. Walsh announced that all active construction sites in Boston are halted. The Mayor told companies to maintain skeletal crews to make sure sites remain “safe and secure” and...more
In this, the first of a four part series focussing on engine leasing and financing, BCLP’s global aviation finance team considers the appeal of engine leasing to investors (as lessor owners and financiers) and the economic...more
The Equipment Leasing and Finance Association (ELFA) saw its highest attendance by women at its annual convention in Washington, D.C., this past October: women comprised a record-breaking 18 percent of attendees. The ELFA is...more
On November 7, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced in an Enforcement Information that Apollo Aviation Group, LLC (Apollo), a Florida-based commercial aviation...more
From a conceptual standpoint, one might think there is a difference between selling an item and charging for a leased item that was never returned. However, a recent decision from the ITC held that charging fees for...more
Lenders often finance items that are installed in and/or affixed to their customers’ other leased or financed assets. When these items, known as “accessions,” are part of the transaction, they are usually “perfected” by the...more
The Court of Appeals of Texas (Dallas) addressed in an August 19th opinion an issue related to the Texas Tax Code’s exemption for solar and wind-powered energy devices. See Sunnova AP5 Conduit LLC v. Hunt County Appraisal...more
In a related update, we called attention to risks and pitfalls to lenders and lessors when seeking prepayment premiums and other charges upon the occurrence of an event of default: Lenders Beware: Acceleration May Defeat...more
A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most often used in acquisition...more
On February 15, 2019, the Internal Revenue Service (the “IRS”) released PLR 201907001 (the “Ruling”), a private letter ruling addressing whether certain income related to the leasing of an oil and gas platform, selling of...more
Under a bill just passed by the Florida Legislature, owners of "special mobile equipment," such as cranes and loaders, are no longer subject to strict vicarious liability under the dangerous instrumentality doctrine for the...more