Kmart Bankruptcy: Lessons for Lessors and Secured Parties

One of the most fundamental and critical principles that enables the equipment leasing industry to function on a day-to-day basis is commercial certainty ' certainty in expectations regarding financing; certainty in the meaning of documentation; and reliance on the certainty of the application of legal principles that will be brought to bear in the event of a lease default or bankruptcy.

9 minute read September 10, 2003 at 01:23 AM
By
Michael A. Reisner
Kmart Bankruptcy: Lessons for Lessors and Secured Parties

One of the most fundamental and critical principles that enables the equipment leasing industry to function on a day-to-day basis is commercial certainty ' certainty in expectations regarding financing; certainty in the meaning of documentation; and reliance on the certainty of the application of legal principles that will be brought to bear in the event of a lease default or bankruptcy.

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