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In the Marketplace
The Alta Group of Reno, NV has announced the completion of one of the equipment finance industry's largest merger and acquisition transactions in years. The Alta Group represented City National Bank of Los Angeles in the 100% cash purchase of First American Equipment Finance of Rochester, NY. Alta was instrumental in helping the bank identify acquisition prospects, performing due diligence, and providing financial advisory services and support in arranging and closing the deal. First American is a privately owned, full-service mid-ticket equipment leasing company that owns and services approximately $325 million in assets with business and municipal lease portfolios totaling $418 million. Its clients include educational institutions, hospitals and health systems, large law firms, insurance underwriters, enterprise businesses, professional service businesses and nonprofit organizations. First American employs approximately 100 people, and its lease transactions typically range between $250,000 and $3 million. According to the leader of Alta's M&A practice, Bruce Kropschot, this transaction breaks the virtual barrier to mergers and acquisitions that was in place since the financial crisis. He anticipates more such deals this year because many corporations and banks have substantial liquidity and a number of attractive independent leasing companies withstood the recession soundly.
Mayer Brown LLP has announced that Barbara M. Goodstein has joined the firm's New York office as a partner in the Banking & Finance practice. Previously, she was a partner with Dewey & LeBoeuf in New York. Goodstein, a member of this newsletter's Board of Editors, has a wide range of transactional and restructuring experience in such structured financings as CDOs, including CDOs of ABS and CLOs, as well as structured and general commercial financings of assets, including auto, trade, health care, timeshare and lease receivables, sports franchises, intellectual property, transportation equipment (including aircraft, aircraft engines, railcars and vessels), technology equipment, medical equipment, communications and office equipment, construction equipment, and marine and inter-modal containers. She also has extensive debt workout and restructuring experience primarily representing senior creditors and syndicate groups, bondholders, and secured creditors both in and out of bankruptcy; foreclosures, DIP and exit financing; contested and consensual bankruptcy matters; and other financial and legal restructurings.
The Alta Group of Reno, NV has announced the completion of one of the equipment finance industry's largest merger and acquisition transactions in years. The Alta Group represented City National Bank of Los Angeles in the 100% cash purchase of
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.