Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Marketplace
GE of Fairfield, CT has agreed to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). GE Capital, Transportation Finance provides wholesale and commercial end-user financing to OEMs, dealers and end users for heavy and medium duty commercial trucks and trailers. BMO will retain the Transportation Finance management team and employees. This sale is part of an announced strategy by GE to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its industrial businesses. GE will retain the financing businesses that relate directly to GE's industrial businesses.
The FASB and IASB have announced the availability of new lease capitalization calculators. The two boards have created two new worksheets to calculate the estimated impact of applying the proposed new lease accounting rules for lessees. One is an FASB version and the other is an IASB version. These revised worksheets reflect the FASB's decision to use a two-lease model. The FASB worksheet is available at http://tinyurl.com/nntf4ml and the IASB worksheet is available at http://tinyurl.com/nn3f4x5.
FASB Chair Russell G. Golden has announced the appointments of Paul A. Beswick and Robert B. Malhotra to the FASB's Emerging Issues Task Force (EITF). Beswick is a partner within Ernst & Young LLP's assurance services practice, where he is involved in accounting and regulatory matters, audit quality initiatives, interactions with standard setters, and process improvement initiatives. Prior to joining Ernst & Young LLP, he served as the chief accountant for the SEC. He will serve a five-year, renewable term beginning Nov. 12, 2015, replacing Jackson Day of Ernst & Young LLP. Malhotra is co-partner in charge of KPMG LLP's Practice Advisory & SEC Group in its Department of Professional Practice, which is responsible for providing accounting, financial reporting and SEC practice support. He will serve a five-year, renewable term that began Sept. 17, 2015, replacing Mark Bielstein of KPMG LLP.
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.