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In The Marketplace
Nassau Asset Management of Westbury, NY has announced that Edward Castagna has been named president and that Peter Castagna, the company's founder, will continue his duties as Nassau's active chief executive officer. As president, Castagna will continue to manage daily operations for the company, which provides asset recovery, collections, remarketing, full plant liquidations, and appraisal services to the equipment leasing and finance industry. He recently chaired the Equipment Leasing Association's Service Providers Business Council and is active on its Membership Committee, as well as the 2004 and 2005 Industry Future Councils of the Equipment Leasing and Finance Foundation.
Aviation Capital Group of Newport Beach, CA has signed a stock purchase agreement to acquire Seattle-based Boullioun Aviation Services from WestLB AG. Included in the agreement are 102 owned or managed commercial aircraft, 11 Airbus airplanes currently on order, employees, and other assets of Boullioun Aviation Services. Deutsche Bank Securities acted as the financial adviser to ACG. Deutsche Bank, UBS and HSH Nordbank will provide funding for the acquisition. Additional terms of the transaction were not disclosed and it is expected to be finalized within the second quarter. Aviation Capital is a subsidiary of Pacific LifeCorp, the parent company of Pacific Life Insurance Company.
Bancorp Rhode Island, Inc. of Providence has announced that its subsidiary, Bank Rhode Island, has acquired the business of Macrolease International Corporation, a full-service, national equipment leasing company based in Plainview, NY. The business will be operated by Macrolease Corporation, a newly formed, wholly owned subsidiary of the Bank. Macrolease International was founded in 1969 by CEO Daniel W. West and provides lease financing in a variety of markets. West was named president of the new subsidiary, and his staff will remain based in Plainview.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.