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In the Marketplace
The global law firm of Vedder Price has announced that Tom Zimmer has joined the firm's Global Transportation Finance Team as a shareholder in the San Francisco office. Zimmer was formerly a partner at Pillsbury Winthrop Shaw Pittman and co-head of their Transportation Finance Group.
Wells Fargo & Company has completed its purchase of the North American portions of GE Capital's Commercial Distribution Finance and Vendor Finance businesses as well as a portion of its Corporate Finance business, totaling $27.4 billion of assets, including approximately $24 billion of loans. The remaining international segment of the transaction is expected to close later this year. The total acquisition includes assets of approximately $31 billion as well as businesses employing approximately 2,800 team members. Effective March 1, GE Capital's Commercial Distribution Finance (CDF) business adopted the tradename Wells Fargo Commercial Distribution Finance. GE Capital's Vendor Finance will adopt the tradename Wells Fargo Vendor Financial Services. GE Capital's Corporate Finance business provides senior secured asset-based loans as well as equipment leases and loans to middle-market customers. Wells Fargo purchased a portion of this business, which is being integrated into its existing Capital Finance and Equipment Finance businesses.
Key Equipment Finance of Superior, CO has named Steve Licardi as leasing manager for its industrial division, where he will be responsible for growing new and existing vendor relationships in the industrial market. Prior to joining Key, Licardi was a senior vice president with First Financial Equipment Finance .
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.
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.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?