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In the Marketplace
State Bank of Long Island, NY, has signed an agreement with Main Street Bank of Kingwood, TX, for the sale of substantially all of the assets of State Bank's leasing subsidiary, Studebaker-Worthington Leasing Corp. Studebaker will operate as a division of Main Street Bank and continue its national equipment leasing business from its present office in Jericho, NY. Studebaker's senior management, including Kenneth Paston, its Chief Executive Officer, will continue with the company. The sale is scheduled to close in the second quarter of 2008. State Bancorp, Inc. is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered on Long Island.
Aquiline Capital Partners of New York announced that Laird M. Boulden has joined the firm as a senior adviser. Boulden, a long-time member of the commercial finance industry, served most recently as president and Chief Executive Officer of RBS Asset Finance, a subsidiary of Citizens Financial Group. Prior to joining RBS Asset Finance, Boulden was founder and president of RBS Lombard, where he was responsible for the consolidation and integration of the U.S.-based RBS equipment finance businesses within Citizens Financial Group. At Aquiline, a private equity firm investing in financial services, Boulden will be responsible assisting in the evaluation of future opportunities in the commercial and specialty finance sectors.
RVI Group of Stamford, CT, announced that John O'Bryan has been promoted to senior vice president, commercial equipment. He will be leading the company's efforts insuring general aviation and commercial aircraft residual values. O'Bryan joined RVI in 2001 after four years at CIT Group as vice president structured finance. Prior to CIT, O'Bryan was with Deutsche Bank in Dublin, Ireland and Sydney, Australia.
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.
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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?