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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.
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 Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.