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Financing Accessions: A Real-World Analysis in Question and Answer Format
Consider how you would address this familiar situation: Your borrower wants to finance a crane that will be attached to and used on a motorized piece of construction equipment, but does not need you to finance the construction equipment itself, only the crane attachment. On its face, this all sounds simple enough, but as many lenders and lessors have discovered, financing a unit that will be attached to equipment financed by another lender can be more challenging than it appears. Especially if the other item is a titled motor vehicle.
When financing an item of equipment (an “Accession”) that may become physically attached to other equipment (the “Other Equipment” and together with the Accession, the “Whole”), lenders (we will call them “Accession Lenders”) or lessors (“Accession Lessors”) should approach these situations with caution. The holder of an interest in the Other Equipment (we will call it the “Other Equipment Lender”) can take priority over the Accession Lender's security interest in the Accession or even the ownership interest of an Accession Lessor.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.