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In the Marketplace
AP Equipment Financing of Walnut Creek, CA, has named Nick Gibbens senior vice president of vendor finance. His primary objective in this new role is the establishment of vendor finance relationships and programs in newly targeted industry verticals. Gibbens previously held management positions at Bank of the West, Trinity Capital Corporation and United States Leasing Corporation.
The Greenbrier Companies, Inc. of Lake Oswego, OR, and Tokyo-based Mitsubishi UFJ Lease & Finance Company Limited (MUL) are substantially expanding the parties' existing commercial relationship in North America. Pursuant to a Memorandum of Understanding, MUL will grow its portfolio from 5,000 railcars to a total of 25,000 railcars over the next four years. The parties' agreement includes a multi-year purchase commitment by MUL for 6,000 newly manufactured railcars from Greenbrier through 2020. Further, MUL has committed to obtain all its newly manufactured railcars exclusively from Greenbrier through 2023. In addition, MUL will supplement its portfolio growth through a combination of lease syndications and used equipment owned and originated by Greenbrier. The combined value of the transaction exceeds $1 billion and follows a successful 2014 railcar lease syndication and asset management partnership between the parties.
International aircraft leasing company Avolon Holdings Limited, has completed the acquisition of the aircraft leasing business of CIT Group Inc., making Avolon the world's third largest aircraft leasing company with a combined fleet of 868 aircraft valued at over US$43 billion (as of Dec. 31, 2016). Avolon's financial advisers for the transaction were UBS Investment Bank and Morgan Stanley & Co. LLC. Weil, Gotshal & Manges LLP, Clifford Chance LLP and Maples and Calder acted as Avolon's legal advisers.
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.
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.
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.
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?