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In the Marketplace
The PNC Financial Services Group, Inc. of Pittsburgh has named Vincent Rinaldi, chief executive officer of National City Commercial Capital Company (“NC4″), to head the combined PNC Equipment Finance and NC4 organizations, which will also include PNC Aviation Finance. The appointment is part of the ongoing integration of the PNC Financial Services Group, Inc. and National City Corporation, which was finalized on Dec. 31, 2008. The company has indicated that National City branches will continue normal operations, and customers will continue to use National City's services as usual. The conversion of National City branches to PNC, however, will begin in the second half of 2009.
Wells Fargo & Company of Des Moines, IA, has purchased approximately $730 million in loan and lease receivables from GE Healthcare Financial Services ' Equipment Finance, a unit of GE Capital. The acquired receivables from the business formerly known as HPSC, Inc. are primarily related to the financing of dental and eye care practices and equipment. Wells Fargo Financial, a unit of Wells Fargo & Company, will manage the receivables through its operating unit Matsco, which serves the financial needs of health care professionals in dentistry, veterinary medicine, optometry, and ophthalmology. The transaction closed Dec. 31. The sale involved receivables and customer relationships only; no facilities or employees were a part of the transaction.
Sonnenschein Nath & Rosenthal LLP has added approximately 100 lawyers, including 40 partners from Thacher Proffitt & Wood LLP. Among these individuals are all members of the Structured Finance and Corporate & Financial Institutions groups.
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.
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?
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.