In the Marketplace
July 31, 2007
Highlights of the latest equipment leasing news from around the country.
The Case for Expert Testimony
July 31, 2007
In equipment leasing industry court cases, one of the challenges lawyers and judges face is simply understanding the nuances and contractual language of the business. That makes credible expert testimony in such legal matters especially critical to winning a case, whether it involves a bank, captive finance company, or independent leasing firm.
Corporate President May Avoid a Personal Guaranty
July 31, 2007
In a recent decision, <i>Cummings Properties, Inc. v. Aspeon Solutions, Inc., et al.</i> (Lawyers Weekly No. 13-019-07), the Massachusetts District Court/Boston Municipal Court Appellate Division affirmed the District Court judge's findings at trial that a defendant could not be held personally liable on a guaranty contained in a commercial real estate lease that the defendant quickly signed in two places before rushing off to the airport to make a flight. This decision was affirmed by the appellate division based on the defense of fraud in the factum.
Lease Financing of Solar Power
July 31, 2007
Hardly a day goes by without major media attention to global warming and the need to develop and invest in sources of alternative energy. Legislation to encourage investment in renewable energy has bipartisan support. Tax legislation passed in 2005 and 2006 extended the renewable energy production tax credit and the energy investment tax credit to facilities placed in service before Jan. 1, 2009. Further extension and expansion of these credits is expected from the current Congress. The extension of the tax credits, the adoption of minimum alternative energy requirements by many states, and greater public and political support for alternative energy resources have increased interest in the development and financing of wind, biomass, geothermal, and solar facilities. An active financing market has developed.
In the Marketplace
June 28, 2007
Highlights of the latest equipment leasing news from around the country.
FTC and Texas AG File Suit Against IFC Credit
June 28, 2007
In yet another round of lawsuits stemming from the NorVergence telecommunications fraud, the Federal Trade Commission and the Attorney General of Texas filed simultaneous complaints in the U.S. District Court for the Northern District of Illinois and Harris County, TX, against Illinois-based commercial finance company IFC Credit for violating federal law by helping to finance the scheme and continuing to seek payment from defrauded NorVergence customers.
Toll Road Leasing Programs: Ready to Roll?
June 28, 2007
Part One of this series discussed precedent transactions and standard terms and conditions in the toll road leasing market. The conclusion continues the discussion of terms and conditions and addresses legislative developments.
Is Your (Non-True) Lease a Sale?
June 28, 2007
Just in case the transaction you've just documented using your standard lease forms is not a 'lease,' you've included a granting clause in the form and filed UCC 'notice' filings. So, you've protected the lessor from a re-characterization risk (<i>i.e.,</i> that the transaction is deemed not to create a 'lease' under commercial law) — right? Well, maybe not.
